Retalon

AUGUST 22, 2023

Retail merchandise planning is the strategic process retailers use to determine what products to stock, in what quantities, and where to allocate inventory across stores and e-commerce channels. With shifting consumer trends and preferences, retailers need agile planning approaches that can pivot to align with changing times.

Planning 41

Planning Merchant Services Markdowns Consumer 41

Inside Retail

JANUARY 30, 2024

Salespeople on the shop floor can use these devices to seek a colleague’s assistance in locating a certain size or style of a product instead of leaving the customer alone while the salesperson finds it. The software uses AI to help a retailer plan the introduction of new stock into a store and manage the pricing levels across its shelf life.

Loss Prevention 147

Loss Prevention Shrinkage Inventory Management Markdowns 147

Retail TouchPoints

FEBRUARY 2, 2022

I’m an avid runner so naturally I’ve made this analogy, and it’s a great one to describe to retailers who are mired in the minutiae of pricing — especially as the market fluctuates in year two of the pandemic while Amazon makes a different move to any SKU multiple times a day and the supply chain is riddled with hiccups in every link of the chain.

Retailing Pricing 208

Retailing Pricing Markdowns Accounting Outdoor 208

Retail Smart Guys

DECEMBER 11, 2022

Also, it oversees purchasing items from suppliers until they are sold to the market. Also, lacking knowledge of your product availability and location can disappoint your target audiences and cause you to lose their loyalty. Finally, we’ll help you reduce markdowns to grow your profitability.

Inventory Management 52

Inventory Management Management Markdowns Fulfillment 52

Retalon

FEBRUARY 15, 2022

Challenges in Demand Forecasting Leading to Lost Market Share. Retailers who rely on approximated demand disappoint customers, bleed profits, and lose market share to more tuned-in competitors. The forecast of future sales demand informs almost all of the decisions a retailer makes throughout the product journey: Planning.

Markdowns 41

Markdowns Inventory Turnover Fulfillment Accounting 41

Wiser

AUGUST 25, 2020

Make sure everyone knows the plan—and is able to execute that plan—to ensure that you’ve got merchandiser support when you need it. You want your merchandisers on board with your strategy and ready to enter your locations to set up any displays as shoppers come back. 5: Lean Into Omnichannel Retail.

Markdowns 120

Markdowns Payment Services Promotions Drop-Shipping 120

Retalon

OCTOBER 8, 2020

And at the end of the sales season (or at the end of a product’s lifecycle), markdowns you set to clear out excess inventory can easily wipe out the product’s lifecycle profitability. They quickly learn to time their purchases for the inevitable markdowns rather than buying products during the main lifecycle.

Markdowns 41

Markdowns Inventory Management Promotions Planning 41

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. Marks & Spencer plans to lean more into its food offerings in the future. But they need to be the right stores, in the right location, with the right services," said Rowe. Do you like this content?

Drop-Shipping 95

Drop-Shipping Markdowns Planning Grocer 95

Retalon

APRIL 14, 2021

Creating a product assortment strategy is necessary for retailers to have a holistic, long-view plan of their business. 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.

Markdowns 41

Markdowns Planning Location Accounting 41

Mass Relators

DECEMBER 21, 2021

billion, and the company announced a store closure plan starting with 63 outlets. Shuttering stores will “reduce costs, drive improved profitability and ensure that we have a healthy foundation to grow from, with the right stores in the right locations, for the communities we serve and for our business,” Donigan said. million, or 1.6

Markdowns 52

Markdowns Planning Accounting Marketing 52

Retalon

MARCH 2, 2021

That’s why fashion retail planning and analytics software needs to be unique and specific to fashion, with the ability to break down business considerations even further than that. What sizes should you offer for each product at each location? Run a promotion last year that you don’t plan for this year? Crawl-Walk-Run.

Fashion 41

Fashion Markdowns Promotions Accounting 41

Retalon

NOVEMBER 11, 2021

The pressure for transformation is coming from all sides, as consumers expect a more streamlined shopping experience, workers expect flexibility and modernity, and competitors like Amazon win more market share using cutting edge tech as their advantage. Why invest in fulfillment technology? Why invest in pricing and promotions?

Fulfillment 41

Fulfillment Markdowns Promotions Shipping 41

Retalon

FEBRUARY 10, 2022

Drastic Markdowns. Last minute markdowns that offload stock at a loss. A large portion of your budget goes toward planning, storing, transporting and managing unsold inventory. Inventory storage, overstock management, ROI lost to markdowns, even lost sales due to stockouts, are all tangible costs of bad inventory.

Inventory Turnover 41

Inventory Turnover Management Inventory Management Dead-Stock 41

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. In short, while incredibly useful in the moment, virtually all product clusters become less relevant to the company’s actual performance as market conditions change. .

Markdowns 41

Markdowns Promotions Inventory Management Accounting 41

Mass Relators

MARCH 17, 2022

In addition, during the year, we completed the initial rollout of DG Fresh, executed more than 2,900 real estate projects, including the opening of our 18,000th store and 50 standalone pOpshelf locations, and launched new initiatives focused on health and international expansion.”. in the fourth quarter of 2021 compared to 22.2%

Payment Services 52

Payment Services Markdowns Apparel Planning 52

Retalon

DECEMBER 17, 2021

This creates internal competition between products instead of pulling customers, revenue and market share from the retail businesses’ external competitors. The overstocks of cannibalized products taking up shelf space force retailers into unplanned promotions and end-of-season markdowns to clear the excess inventory.

Markdowns 41

Markdowns Promotions Consumer Fashion 41

Retail TouchPoints

OCTOBER 3, 2023

When it came to inventory planning and optimization, stores were planned, allocated and/or replenished, and transacted with their customers entirely separately from the digital channel. This last, critical element (markdown avoidance) is the least fully adopted technique across the retail landscape today.

Fulfillment 226

Fulfillment Drop-Shipping Markdowns Shipping 226

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

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. And yet, failing to live up to consumer expectations can be just as deadly — especially when retail behemoths like Amazon are gobbling up market share. Centralizing fulfillment.

Fulfillment 41

Fulfillment Drop-Shipping Shipping Returns 41

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

Retail Adventures

JANUARY 1, 2024

This is especially important if your store is located in an area where people tend to walk, and areas populated with restaurants and bars. Don’t wait too long to take a markdown. Marketing 35. Choose a professional email marketing company to create your campaigns. Light your window displays at night. Measure your results.

Promotions 52

Promotions Returns Cross Merchandising Markdowns 52

Retalon

APRIL 27, 2021

Although e-commerce gets all of the attention, the past two decades of technological change have transformed every aspect of the retail business — from planning, inventory, pricing, and promotions — all the way down to customer service and the in-store experience. to optimize inventory for gross margins.

Fulfillment 41

Fulfillment Markdowns Promotions Returns 41

Retalon

DECEMBER 8, 2021

In today’s market, putting the right fulfillment system in place gets you a competitive edge. 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. The fact is that no two locations have the same product demand.

Merchant Services 41

Merchant Services Fulfillment Drop-Shipping Shipping 41

Retalon

SEPTEMBER 13, 2015

All costs associated with the transfer — from logistics and store capacity to demographic diversity and the sizes and colors most likely to sell at the specific location — are incorporated automatically. In-Stock Percent. But for most retailers, the restocking process doesn’t begin until inventory starts to run low at a specific store.

Markdowns 32

Markdowns Promotions Customer Experience Fulfillment 32

Retalon

SEPTEMBER 13, 2015

All costs associated with the transfer — from logistics and store capacity to demographic diversity and the sizes and colors most likely to sell at the specific location — are incorporated automatically. In-Stock Percent. But for most retailers, the restocking process doesn’t begin until inventory starts to run low at a specific store.

Markdowns 32

Markdowns Promotions Customer Experience Fulfillment 32

Retalon

AUGUST 16, 2019

Delivering an experience that feels personalized to shoppers, while also… Creating a consistent experience across retail locations and channels so that customer can enjoy the comfortable familiarity of your brand. Any business that caters to a consumer marketplace deals with 2 common challenges.

Fulfillment 32

Fulfillment Customer Experience Markdowns Consumer 32

Retalon

AUGUST 16, 2019

In any business undertaking that caters to a consumer marketplace, there are two major challenges – delivering an experience that feels personalized to shoppers, while simultaneously creating a consistent experience across retail locations and channels so that customer can enjoy the comfortable familiarity of your brand.

Customer Experience 32

Customer Experience Fulfillment Markdowns Consumer 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

SEPTEMBER 11, 2020

But to make sure you’re focused on the right question, we need to clear up to major misconceptions with demand forecasting: Sales forecasting vs. demand forecasting Forecast vs. plan. Demand Forecast vs. Demand Plan. People often use demand planning and demand forecasting interchangeably. Sales Forecast vs. Demand Forecast.

Payment Services 41

Payment Services Promotions Accounting Fulfillment 41

Retalon

AUGUST 20, 2019

The debate over bricks (physical locations) versus clicks (online stores) has long centered on several key factors, including: – Cost efficiency. – Ease and efficiency of taking products to market. – Merchandise, Assortment, and Store planning. – Promotions, event and markdowns. touching products).

Fulfillment 32

Fulfillment Comparison Shopping Markdowns Promotions 32

Retalon

AUGUST 20, 2019

The debate over bricks (physical locations) versus clicks (online stores) has long centered on several key factors, including: – Cost efficiency. – Ease and efficiency of taking products to market. – Merchandise, Assortment, and Store planning. – Promotions, event and markdowns. touching products).

Fulfillment 32

Fulfillment Comparison Shopping Markdowns Promotions 32

Retalon

JULY 4, 2018

These tools are not able to account for new products, categories, and markets, or used & exchanged items, let alone suggest accurate and tangible actions going forward. A Forrester research team surveyed retailers on what they plan to implement to support fulfillment efforts.

Promotions 32

Promotions Fulfillment Shipping Markdowns 32

Retalon

NOVEMBER 19, 2018

Are the right products in stock at the right locations/channels to support the shift in demand? Are the current pricing and markdown strategies still the optimal ones based on the new forecast? What products being dropped already have substitutes being stocked? What products might also see an uplift? Contributed by Adrian Silipo.

Markdowns 32

Markdowns Fashion Inventory Management Accounting 32

Retalon

NOVEMBER 19, 2018

Are the right products in stock at the right locations/channels to support the shift in demand? Are the current pricing and markdown strategies still the optimal ones based on the new forecast? What products being dropped already have substitutes being stocked? What products might also see an uplift? Don’t have one?

Markdowns 32

Markdowns Fashion Inventory Management Accounting 32

Inside Retail

JUNE 20, 2023

With GenAI, marketers can create content that will resonate with a specific individual. GenAI can adapt pricing strategies and offers to customers by analysing market data, competitive pricing and consumer behaviour. Airlines have been doing this for years. GenAI is also transforming inventory management.

Markdowns 130

Markdowns Inventory Management Marketing Promotions 130

Retalon

SEPTEMBER 23, 2020

Many retailers conduct basic BI using native features in their ERP (Enterprise Resource Planning) system, or by importing data directly into Microsoft Excel. While sales forecasting is the backbone of many retail planning processes — this is perhaps the biggest area of data analytics in need of an overhaul.

Accounting 47

Accounting Markdowns Management Inventory Management 47