Retail TouchPoints

MARCH 3, 2023

Target Invests in Price and Speed to Attract Shoppers Target ended Q4 with inventory 3% lower than in 2021, a sign that the retailer has managed to overcome the excesses it struggled with through the first half of 2022. during Q4, but they were up 0.6% at its flagship banner and up 5.8% during Q4, but they were up 0.6%

Markdowns 309

Markdowns Operating Expenses Department Stores Planning 309

Inside Retail

JANUARY 30, 2024

These technologies are helping retailers achieve efficiencies in operational functions including staff deployment and management, customer service, shrinkage reduction and lifecycle pricing. And that’s where your Workforce Management systems come into play,” says Bretherton. They also need clarity around what they need to do.

Loss Prevention 147

Loss Prevention Shrinkage Inventory Management Markdowns 147

Retalon

NOVEMBER 20, 2020

Price optimization and price management are terms that often are used interchangeably, but they are not the same thing. When used properly, both price management and price optimization can substantially affect a retailer’s profitability. You cannot optimize prices without managing them, however.

Management 41

Management Markdowns Accounting Retailing Pricing 41

Retalon

FEBRUARY 10, 2022

Managing inventory becomes exponentially more complicated as a retailer grows; and often becomes an overwhelming challenge. Indicators you’re managing bad inventory. Drastic Markdowns. Last minute markdowns that offload stock at a loss. A high cost of overstock management. Siloed inventory management.

Inventory Turnover 41

Inventory Turnover Management Inventory Management Dead-Stock 41

Retail TouchPoints

SEPTEMBER 15, 2020

As a result, consumer behavior has become harder to predict across multiple locations, which makes zone pricing a must for retailers. Savvy retailers are focusing more heavily on determining demand by geographic zones, using local data to inform prices, promotions and markdowns based on real-time consumer behavior.

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Markdowns Technical Support Promotions Wholesale 232

Retail Focus

DECEMBER 8, 2021

By intelligently optimising pricing, markdowns and promotions, based on demand triggers, retailers can make the granular decisions needed at each store location to increase sell-through and protect margins, whilst meeting consumers expectations on prices and discounts.”.

Markdowns 147

Markdowns Promotions Consumer Fashion 147

Retail Smart Guys

DECEMBER 11, 2023

Our experts provide a tailored and structured approach to inventory management, allowing you to focus on what you do best – delighting your customers. Subsequently, we furnish a meticulously detailed monthly open-to-buy plan for each category, with a specific focus on individual locations for multi-store retailers.

Markdowns 52

Markdowns Inventory Management Planning Location 52

Retail TouchPoints

FEBRUARY 2, 2022

Many of your retail peers found themselves with the dilemma of missing data — from the lack of customer data, transaction history for certain items or timeframes or sales broken out by sales type (regular/base, promotion and markdown). If not, you don’t have to collect every SKU, every day for every competitor location or web page.

Retailing Pricing 246

Retailing Pricing Markdowns Accounting Outdoor 246

Retalon

JANUARY 5, 2021

Simply put, inventory balancing is the process of moving excess inventory from one retail location to a retail location where that inventory is in demand. Today’s big retailers operate multiple store formats, from big-box flagship stores to minimal-assortment express locations. What is inventory balancing?

Location 41

Location Inventory Management Markdowns Fulfillment 41

Inside Retail

MARCH 15, 2022

Store grading – retail stores all come in different sizes and locations with varying customer demands: fashionability, location and price for example. This is all managed by the store grading. Reduce markdown activity through planning width (number of options) and depth (units per option) of range. More on this later.

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Planning Store Layout Markdowns Location 130

Retail TouchPoints

SEPTEMBER 8, 2023

Today’s promise engines have gotten smarter about transit time, carrier rates, inventory location and other factors. Ecommerce merchant teams invest significant time in analyzing factors such as free shipping thresholds, promotions, pricing and markdowns. The real complexity comes when we are looking at thousands of SKUs.

Merchant Services 251

Merchant Services Shipping Fulfillment Markdowns 251

Retail TouchPoints

AUGUST 19, 2021

Ecommerce has been growing 10% to 15% every year and that was exacerbated during COVID-19,” said Natalie Kotlyar, National Managing Partner; Industry Groups, Retail & Consumer Products Industry National Leader, at BDO in an interview with Retail TouchPoints. That means communication with the consumer, not markdowns.

ATS 299

ATS Markdowns Consumer Social Commerce 299

365 Retail

FEBRUARY 17, 2022

“Pacsun wanted to proactively manage the costs created by the increase in our online sales,” said Mike Relich, Co-CEO of Pacsun. “By By adding more intelligence to our allocation processes with antuit.ai, we allocated inventory for the omnichannel demand and minimised split shipments.”

Markdowns 52

Markdowns Fulfillment Shipping Fashion 52

Retalon

JANUARY 7, 2021

With seasonal product life-cycles becoming ever shorter, retailers need more strategic and granular ways to plan their seasonal assortments so they can maximize revenue while minimizing markdowns. Retailers often forget that seasonality does not apply to every SKU at every location in the exact same way. .

Markdowns 41

Markdowns Promotions Accounting Planning 41

Retail Smart Guys

SEPTEMBER 2, 2022

Particularly in your inventory, which is the biggest expense every retail store has, establishing the correct level of inventory, on a department by department basis, and a location by location basis, is the most important job in retail. Proper inventory levels in all classes, at all locations, are ensured. Ace the list now!

Planning 40

Planning Markdowns Inventory Management Location 40

Retail TouchPoints

DECEMBER 12, 2023

Add it all up and it’s clear that the timing duration, and location of holiday shopping is not like the old days. In this kind of shopping environment, how should retailers align their promotions and markdowns for the greatest impact? Ending the Tradition of Blanket Markdowns Enter this year’s holiday shopper.

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Markdowns Retailing Pricing Promotions Fulfillment 278

Retalon

FEBRUARY 15, 2022

Price elasticity of demand, meaning the effect that a set price will have on demand, is an important consideration when setting prices, running promotions, or markdowns. When Inventory is proactively allocated among locations to meet demand, customers are not repeatedly met with empty shelves pushing them to other retailers.

Markdowns 41

Markdowns Inventory Turnover Fulfillment Accounting 41

Retalon

OCTOBER 8, 2020

But getting the biggest return on that investment, especially in today’s tough retail environment, requires a more nuanced, data-driven approach to inventory management than most retailers are used to. The way you manage the inventory investments for your stores, warehouses, and distribution centers determines your success as a retailer.

Markdowns 41

Markdowns Inventory Management Promotions Planning 41

Retalon

FEBRUARY 25, 2022

Whether losing sales to out-of-stocks, or facing overstocking costs and markdowns, inefficient stock replenishment has a huge impact on a retailer’s GMROI. Replenishing stock is a key facet of inventory management which helps to balance inventory levels during a selling period. What is replenishment? What is replenishment stock?

Inventory Management 47

Inventory Management Fulfillment Markdowns Location 47

Retail Assist

APRIL 14, 2021

Retailers must be able to move stock quickly between different locations, such as stores, concessions and franchises, and partners, whilst also maintaining healthy warehouse stock for eCommerce orders. With a greater sell through of full priced stock and a reduced rate of markdown, margins are protected and profits soar.

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Markdowns Fulfillment Promotions Shipping 52

Retalon

NOVEMBER 11, 2021

POS / customer engagement software Ecommerce platforms Data analytics and business intelligence software Order management software. Retail IT services: Tech support Field support Device management Software management Disaster recovery Software integration Custom development. Why invest in pricing and promotions?

Fulfillment 41

Fulfillment Markdowns Promotions Shipping 41

Retalon

MAY 25, 2020

This strategy of incremental markdowns is also used as a product is nearing the end of its season. Retailers may prefer to use it when it is too difficult to calculate, set, and manage optimal prices throughout the season for each product on an individual basis.

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Markdowns Promotions Management Marketing 41

M19 Retail

MARCH 22, 2021

MIAMI, FLORIDA, March 22, 2021 – Mi9 Retail, the number one vendor for tier one retailers (RIS 2021 Software LeaderBoard) that enables them to automate and optimize merchandise management and retail planning is pleased to announce a strategic partnership with Planalytics, the leading provider of weather-informed demand analytics and insights.

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Markdowns Inventory Management Planning Management 40

Retail TouchPoints

OCTOBER 3, 2023

The digital channel typically had one or more dedicated facilities, which ironically were often planned and managed like an individual additional brick-and-mortar location. This last, critical element (markdown avoidance) is the least fully adopted technique across the retail landscape today.

Fulfillment 283

Fulfillment Drop-Shipping Markdowns Shipping 283

Retalon

APRIL 26, 2021

Product clustering (or grouping) is an increasingly common technique that leading retailers use to manage their planning, inventory, pricing, promotions, and markdowns. Retailers may cluster these substitute products together to manage inventory more efficiently. Everything you need to know about product clustering / grouping.

Markdowns 41

Markdowns Promotions Inventory Management Accounting 41

Retalon

APRIL 21, 2021

direct-to-consumer e-commerce orders), retailers now have to worry about fulfilling orders across multiple complex channels and B&M locations. Instead of turning every B&M store into a fulfillment node, some retailers have realized massive cost savings by centralizing fulfillment to a select few locations.

Fulfillment 41

Fulfillment Drop-Shipping Shipping Returns 41

Retalon

APRIL 14, 2021

It needs to be relevant to the current (and upcoming trends), as well as sensitive to the unique geo0demographics of your channels and locations. Don’t use the same product assortment across all locations. Clustering retail locations by common attributes let you tailor the assortment more closely.

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Markdowns Planning Location Accounting 41

Indigo 9 Digital

SEPTEMBER 7, 2022

Commissions typically range from 25%-33% depending on whether in addition to providing eCommerce functionality Farfetch manages shipping, returns or other services. With more pricing control brands can offer more merchandise at full price, avoiding markdowns which are thought to negatively impact a luxury brand’s image.

Boutique 98

Boutique Fashion Customer Experience Markdowns 98

Indigo 9 Digital

SEPTEMBER 1, 2022

That means if there is slow moving merchandise the retailer doesn’t have to worry about taking markdowns to sell the inventory. But they need to be the right stores, in the right location, with the right services," said Rowe. 57% of Amazon’s unit sales in come from third party sellers on its platform. "We Do you like this content?

Drop-Shipping 95

Drop-Shipping Markdowns Planning Grocer 95

Retalon

FEBRUARY 13, 2018

The result of unreliable projections are inventory imbalances: mistakes in planning, purchasing, and inventory management, resulting in inventory levels that don’t match actual demand. Retailers carry tens or hundreds of thousands of SKUs, far too many for buyers to accurately forecast every product at each channel/location.

Markdowns 32

Markdowns Inventory Management Promotions Accounting 32

Retalon

FEBRUARY 13, 2018

The result of unreliable projections are inventory imbalances: mistakes in planning, purchasing, and inventory management, resulting in inventory levels that don’t match actual demand. Retailers carry tens or hundreds of thousands of SKUs, far too many for buyers to accurately forecast every product at each channel/location.

Markdowns 32

Markdowns Inventory Management Promotions Accounting 32

Retalon

FEBRUARY 13, 2018

The result of unreliable projections are inventory imbalances: mistakes in planning, purchasing, and inventory management, resulting in inventory levels that don’t match actual demand. Retailers carry tens or hundreds of thousands of SKUs, far too many for buyers to accurately forecast every product at each channel/location.

Markdowns 32

Markdowns Inventory Management Promotions Accounting 32

Retalon

SEPTEMBER 22, 2021

Instead of only shipping to customers’ homes, retailers let online customers shop from their local and online store’s inventory and pick up their orders from their closest brick-and-mortar location the same day. Store-specific information about curbside or in-store pickup locations. Payment, return, and exchange policies.

Fulfillment 41

Fulfillment Payment Services Inventory Management Shipping 41

Retalon

DECEMBER 8, 2021

As mentioned earlier, in its simplest form, order fulfillment is the physical process of getting a purchased product from a storage location to the customer. Some factors affecting this decision include the proximity of the storage location to the customer, inventory availability, and the labour involved. What is order fulfillment?

Merchant Services 41

Merchant Services Fulfillment Drop-Shipping Shipping 41

Retalon

JUNE 22, 2020

The Cons of using a Sales-based forecast: The problem with this approach is that if you’re a modern retailer that sells through multiple channels, with multiple locations and DCs, a sales-based forecasting will result in far too many exceptions. Demand Forecast Definition. But don’t wait too long.

Merchant Services 41

Merchant Services Markdowns Promotions Location 41

Retalon

APRIL 27, 2021

In effect, this means a reduction of total inventories, maximized sales, and reduced markdowns. Often, returning products to the store that fulfilled the original purchase will create inventory excesses and lead to markdowns. to optimize inventory for gross margins. check out their story here). Digital technology in retail stores.

Fulfillment 41

Fulfillment Markdowns Promotions Returns 41

Retalon

SEPTEMBER 13, 2015

For example, one retailer might want to manage their inventory better, so they would use KPIs like inventory to sales ratios or inventory integrity. This dramatically increases revenue from transfers, lowers inventory costs and increases sales while helping you avoid unnecessary markdowns and subsequent allocations. In-Stock Percent.

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Markdowns Promotions Customer Experience Fulfillment 32