Retail TouchPoints

MARCH 3, 2023

Macy’s Sees its Future in Luxury and Off-Mall Locations Macy’s has been diligently modernizing its operations for the past several years, and its performance in the coming months will be a sign of whether its efforts are paying off. “In That’s a clear advantage in the near term and remains our focus over the long term.”

Markdowns 292

Markdowns Operating Expenses Department Stores Planning 292

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.

Markdowns 215

Markdowns Technical Support Promotions Wholesale 215

Retail TouchPoints

APRIL 6, 2022

Shoppers should be able to quickly locate pertinent product information. Time-sensitive or exclusive items can be promoted on an aisle endcap. An item’s popularity or novelty can be communicated via badges that read “best seller,” “newly added,” or even “new markdown.”

Checkout 294

Checkout Markdowns Apparel Promotions 294

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.

Merchant Services 222

Merchant Services Shipping Fulfillment Markdowns 222

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 236

Retailing Pricing Markdowns Accounting Outdoor 236

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

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. Some of these factors include: Pricing Consumer preferences Competitors Events Promotions Vendors Logistics etc.

Markdowns 41

Markdowns Promotions Accounting Planning 41

Wiser

AUGUST 25, 2020

You want your merchandisers on board with your strategy and ready to enter your locations to set up any displays as shoppers come back. 4: Use Promotions and Markdowns to Move Seasonal Inventory. We recommend using promotions and markdowns to move that inventory quickly. 5: Lean Into Omnichannel Retail.

Markdowns 120

Markdowns Payment Services Promotions Drop-Shipping 120

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.

Markdowns 270

Markdowns Retailing Pricing Promotions Fulfillment 270

Retail Smart Guys

NOVEMBER 28, 2022

They know how you can hire great staff, improve your people’s skills, promote deserving individuals, and terminate employees that do not serve you well. They are knowledgeable in proper placements of your products and better store locations, skilled in amplifying your branding and messaging, and up-to-date in all of these retail trends.

Markdowns 52

Markdowns Promotions Retail Trends Location 52

Retail Assist

APRIL 14, 2021

Retailers can automate replenishment using intelligent algorithms, which can be particularly beneficial during promotional or seasonal events. That’s the requirement for every modern retailer today, operating with an omnichannel mentality, especially during peak periods and promotions. Replenishment is essential to avoid stock-outs.

Markdowns 52

Markdowns Fulfillment Promotions Shipping 52

Retail Adventures

JUNE 4, 2020

Remember, if you run an event in your physical location carry that same event over to online store as well. Plan In-Store Events & Promotions: You have brick and mortar stores, online retailers, TV, catalogs, and more coming at you from all sides, all vying for the customers’ attention. Be Prepared for Markdowns.

Markdowns 90

Markdowns Returns Promotions Planning 90

Retail Adventures

SEPTEMBER 28, 2020

There’s a reason milk and eggs are housed at the back of the store – retailers want you to have to have to walk through new and promotional items first. Some apps have GPS and will send you an offer if you are near one of their locations or shopping at a competitors’ store. Not this year!

Shopping 90

Shopping Markdowns Consumer Promotions 90

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

NOVEMBER 11, 2021

In turn, consumers now expect these same options to be available across all retail locations (both online and in-store). Advanced analytics tools can pinpoint demand for a specific SKU at a specific location or channel. Why invest in pricing and promotions?

Fulfillment 41

Fulfillment Markdowns Promotions Shipping 41

Retalon

MARCH 2, 2021

What channels do you promote through? What sizes should you offer for each product at each location? Do you run promotions? Run a promotion last year that you don’t plan for this year? What are your customer profiles? What channels do you sell through? What fulfillment methods are you offering? How do you handle returns?

Fashion 41

Fashion Markdowns Promotions Accounting 41

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

Retalon

NOVEMBER 20, 2020

Before we go any further it is important to make a clear distinction between price management and price optimization : Price optimization is the process of identifying the optimal price point for any given product at any given location that will yield the highest profit. You cannot optimize prices without managing them, however.

Management 41

Management Markdowns Accounting Retailing Pricing 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. Occasion attributes – Another product group can be formed based on products that behave similarly during specific holidays, seasons, or promotions.

Markdowns 41

Markdowns Promotions Inventory Management Accounting 41

Retalon

DECEMBER 17, 2021

Typically unexpected, this situation can be extremely detrimental for retailers and also has the potential to create additional issues such as: Inventory Imbalances Overstocks Markdowns. Promotional uplift. Avoided overstocks and minimized markdowns. More predictable promotions and seasonal events. Seasonality.

Markdowns 41

Markdowns Promotions Fashion Consumer 41

Retalon

MAY 25, 2020

This strategy of incremental markdowns is also used as a product is nearing the end of its season. And if you could answer these questions accurately, at scale, for every Product / Location, you would no longer be thinking of pricing strategy in concepts like “high-low.” Effect of promotions. Seasonality. Competitor pricing.

Markdowns 41

Markdowns Promotions Management Marketing 41

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

JANUARY 6, 2021

The purpose of replenishment is to ensure that a retailer has the right quantity of product, at the right location, at the right time to maximize sales and minimize costs. Smaller B&M retailers with one or two locations may find replenishment planning fairly simple. Why is replenishment planning so complicated?

Planning 41

Planning Markdowns Accounting Shipping 41

Wiser

JULY 14, 2020

You develop a product, produce it, promote it, and sell it. While you may have to make short-term pricing decisions, such as markdowns or discounts, your pricing strategy should have a longer time horizon in mind. ” Dynamic prices can change alongside market demands or outside conditions, such as time or location.

Bundled Pricing 128

Bundled Pricing Markdowns Consumer Marketing 128

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. Common factors include: Manufacturing time Packaging and shipping time Lead time Processing time at the warehouse Customer order fulfillment Allocations Promotions.

Inventory Management 47

Inventory Management Fulfillment Markdowns Location 47

Retalon

SEPTEMBER 13, 2015

In today’s omnichannel retail world, the best way to improve KPIs and meet yearly objectives is by adopting a predictive analytics solution that can forecast true demand, accurately allocate inventory, optimize promotions, and balance inventory and assortment between stores while being in tune with individual business goals. Promotion Lift.

Markdowns 32

Markdowns Promotions Customer Experience Fulfillment 32

Retalon

FEBRUARY 13, 2018

Business Intelligence (BI) and traditional forecasting methodology can provide visibility into a retailer’s past sales, promotions, stock levels, and more. 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 MANAGEMENT SOFTWARE

MARCH 11, 2022

It is beneficial to exhaust your resources first, so you don’t end up with the excess products in one store that you eventually have to markdown. Offering discounts and promotions are effective methods for moving stagnant inventory through the purchase cycle.

Inventory Management 92

Inventory Management Management Inventory Turnover Drop-Shipping 92

Retalon

SEPTEMBER 13, 2015

In today’s omnichannel retail world, the best way to improve KPIs and meet yearly objectives is by adopting a predictive analytics solution that can forecast true demand, accurately allocate inventory, optimize promotions, and balance inventory and assortment between stores while being in tune with individual business goals. Promotion Lift.

Markdowns 32

Markdowns Promotions Customer Experience Fulfillment 32

Retalon

SEPTEMBER 13, 2015

In today’s omnichannel retail world, the best way to improve KPIs and meet yearly objectives is by adopting a predictive analytics solution that can forecast true demand, accurately allocate inventory, optimize promotions, and balance inventory and assortment between stores while being in tune with individual business goals. Promotion Lift.

Markdowns 32

Markdowns Promotions Customer Experience Fulfillment 32

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.

Merchant Services 41

Merchant Services Markdowns Promotions Location 41

Retalon

FEBRUARY 13, 2018

Business Intelligence (BI) and traditional forecasting methodology can provide visibility into a retailer’s past sales, promotions, stock levels, and more. 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

Business Intelligence (BI) and traditional forecasting methodology can provide visibility into a retailer’s past sales, promotions, stock levels, and more. 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

Wiser

OCTOBER 13, 2020

Every retailer has multiple brands that are vying for shelf space and promotional efforts. It’s critical that you promote your brand to retailers so they choose to favor you over the crowd. Trade promotions are one of the best ways to do that. What is a Trade Promotion? Trade promotions can take several different forms.

Promotions 78

Promotions Visual Merchandising Markdowns Wholesale 78

Retalon

MARCH 9, 2021

Low prices leave little room for promotions or end-of-lifecycle markdowns. An initial promotion introduces customers to a service that they continue to use and pay for. While promotional allowances such as loyalty discounts or military and senior citizen discounts provide incentives for customers’ recurring business.

Bundled Pricing 41

Bundled Pricing Promotions Markdowns Advertising 41

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. Discuss products, policies, promotions – anything store associates need to know that day. Don’t wait too long to take a markdown. Light your window displays at night. Toot your own horn.

Promotions 52

Promotions Returns Cross Merchandising Markdowns 52

Retalon

AUGUST 22, 2023

Models rapidly incorporate new data like promotions and local events to refine guidance. Retailers gain data-backed signals to dynamically shift buys across locations, reducing write-offs. Increasing gross margins: Incorrect forecasts lead to profit-sapping markdowns.

Planning 41

Planning Merchant Services Markdowns Consumer 41