Markdown madness!

Retail Dive

Like college basketball, the retail industry has its own version of "bracket busters" that come from overestimating performance: "profit busters" in the form of markdowns

Why you don’t need markdowns to appeal to price-conscious customers

Inside Retail

The post Why you don’t need markdowns to appeal to price-conscious customers appeared first on Inside Retail. Analysis Business Customer Financial Latest Professional Top Stories Aldi discounting discounts markdowns sales

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The Very Group Renews DemandTec Markdown Optimisation

Retail Focus

Online retail giant The Very Group will continue to enhance its pricing strategies with DemandTec Markdown Optimisation. The post The Very Group Renews DemandTec Markdown Optimisation appeared first on Retail Focus - Retail Design.

What are Retail Markdowns?

Wiser

Altering your price, particularly through markdowns, can be a smart strategy, but only if done correctly. Unsuccessful or excessive markdowns can lead to staggering losses in terms of missed revenue and a lower margin on your goods. What are Retail Markdowns?

Top 5 markdown actions to take to dominate at mid-season sale

Inside Retail

Your markdown SKUs are live, but how are they tracking? Now is the time to check how your markdown performance is tracking against your retail markdown strategy keeping inventory management top of mind. Full price vs markdown mix. Markdown cover.

How Improving Markdowns Will Impact Your Most Important Supply Chain KPIs

Retail Touch

So why should these teams expand their focus to consider markdown planning in addition to their already full slate of targets? Because better markdowns have the potential to significantly improve the traditional KPIs that supply chain teams are evaluated on.

The Very Group Renews DemandTec Markdown Optimisation

365 Retail

Online retail giant The Very Group will continue to enhance its pricing strategies with DemandTec Markdown Optimisation. The post The Very Group Renews DemandTec Markdown Optimisation appeared first on 365 RETAIL | Retail News.

How to Align Markdowns with Psychological Pricing and Marketing 

Wiser

They are also a way to ensure markdowns and promotions are effective. If your markdown and sale patterns become obvious to your consumer, they will wait for those markdowns and hold off on shopping until a promotion rolls around. The post How to Align Markdowns with Psychological Pricing and Marketing appeared first on Quad Analytix. H ave you ever looked around a store and noticed that most prices end in nine?

How to Maximize Margins with the Timing and Depth of Markdowns

Wiser

In a perfect retail world, markdowns wouldn’t be necessary and every item would sell at full price within weeks of being in store. This is where markdowns come in handy, as the demand for a product diminishes, sales can encourage shoppers to purchase an item they wouldn’t have considered buying at full price. Retailers shouldn’t fear markdowns, but rather embrace them. Plan Markdowns in Advance. When determining price markdowns, keep in mind price elasticity.

5 Highly Effective Retail Markdown Strategies that Work in 2021

Retalon

What is a retail markdown strategy? A retail markdown strategy is a plan that describes when and how certain products should go on markdown. Having a markdown strategy is important because, all too often, markdowns are a kneejerk reaction to end-of-life inventories.

Southern Co-op improves food waste and sell-through with a dynamic markdown solution from Retail Insight

Retail Times

Regional consumer co-operative and food retailer, Southern Co-op, has improved food waste, while optimising sell-through and margins, by implementing WasteInsight, a dynamic markdown solution from Retail Insight, the leading retail execution platform.

Sally Beauty Preps for Post-Pandemic Beauty Boom with New AI-Powered Pricing Solution

Retail Touch

The solution also will help Sally Beauty create more effective promotions through enhanced targeting and develop profitable markdown plans.

Guide for Unified Price, Promotion and Markdown Optimization Applications

Retalon

Getting your product pricing right is absolutely critical to customer cross-channel experience, but the promise of unified price, promotion and markdown optimization is hard to achieve. The post Guide for Unified Price, Promotion and Markdown Optimization Applications appeared first on Retalon. Retail CIOs can use this research to understand the state of the retail market, assess their preparedness, and identify key technology providers such as Retalon.

Burberry and Dillard’s limit markdowns to drive high profit sales

Retail Wire

Burberry and Dillard’s are both focused on driving full price sales of new merchandise in their full line stores. Burberry is looking to accomplish the feat by focusing on high-demand categories, unveiling a new store concept and addressing the consumer desire for omnichannel shopping and fulfillment. Dillard’s is cutting back on marked down merchandise and moving slow turners into carefully placed clearance stores separate from its main fleet. in-article

DemandTec Launches Platform to Help Retailers Enable AI-Powered Merchandising

Retail Touch

Unify by DemandTec aims to give retailers a 360-degree view of shopper demand across all channels to elevate AI-powered pricing, promotions and markdowns, and maximize profitable revenue growth.

Recharge Your Digital Pricing Strategies with Data Science

Retail Focus

Fortunately, there is well-established, proven science-based technology that enables retailers to offer carefully crafted prices, promotions and markdowns in online as well as brick-and-mortar channels.

Fashion discounting pays, the latest research from antuit.ai shows

Retail Times

While discounting strategies are often blamed for depleting fashion retailer’s already slim margins, markdowns can drive brand discovery among shoppers, grow ambient sales and increase long-term loyalty, the latest research from antuit.ai, the leader in SaaS Artificial Intelligence (AI) demand forecasting solutions, reveals. Data Time antuit.ai

Pacsun Improves Profitability with Intelligent Allocation and Replenishment with Antuit.ai

Retail Focus

It also resulted in more accurate forecasting for Pacsun store and online demand, and a balanced inventory between stores and its ecommerce distribution centres, delivering higher sell-through rates, reduced markdowns and improved margins.

Myer picks up new national distribution centre in online, efficiency push

Inside Retail

Having a centralised fulfilment centre for stores replaces our historical push model, and will result in improved inventory management, reduced markdowns and maximised sell-through whilst also producing significant efficiencies in our online fulfilment operations.”.

How Retailers Can Strengthen Sustainability With Data-Driven Pricing Strategies

Retail Touch

These insights are a powerful way to gauge consumer demand for sustainable products with current and past sales data, identify the most profitable promotional strategies, and minimize markdowns and waste from the start. Sustainability is no longer a nice-to-have for retailers.

Meet the new online outlet mall targeting Gen Z and millennial consumers

Inside Retail

From tactical promotions, to markdowns, to engineered lines – similar to what you might see in an outlet mall, for example – all the way through to clearance,” Seskin said. “If Everyone might go 30 per cent off on their first markdown, but their reach is limited.

Aldi introduces discounts for damaged packaging to reduce waste

Talking Retail

All of the group’s 920 stores are making the markdowns on goods including rice, pasta, cereal and tinned goods in a bid to further reduce food waste. Aldi is introducing a policy of selling food at 30% reduction if its packaging is damaged.

Young customers push Burberry sales to pre-pandemic levels

Retail Wire

We saw strong growth across our strategic categories, in particular, leather goods and outerwear, and exited markdowns in digital and mainline stores,” said CEO Marco Gobbetti.

The Merchandise Planning balancing act has never been more tippy

Inside Retail

Managing new opening price points, discounts, markdowns, and the resulting final margins in an inflationary environment is a challenge not faced by Merchandise Planners in the past 20 years. The role of discounts coupled with seasonal markdowns needs to be managed more than ever.

How Woolies is using 2D barcodes to increase sales and transparency

Inside Retail

In recent years, consumer awareness around sustainability has continued to grow, as shoppers are now demanding to know the origin of the products that they purchase.

Create, Document, and Share Live Code Examples with Jupyter Notebook

Cisco Retail

One way is using Jupyter Notebook to combine documentation authored in markdown together with live code. In the example below, we use Python 3 as our language of choice with the first entry authored with markdown and the second “hello world” passed to the print function.

Charanga Deploys RFID Technology to Lay Groundwork for Omnichannel Services

Retail Touch

The technology also is expected to help reduce waste and lead to fewer markdowns. Spanish children’s clothing retailer Charanga will deploy the Nedap iD Cloud platform at all owned stores, franchised stores and displays inside El Corte Inglés locations in Spain, Portugal and Italy.

How to Get the Most Out of Your Next Temporary Price Reduction

Wiser

Promotions influence shopper behavior , and consumers are conditioned to search for the best deals and prioritize brands and retailers who markdown products more often than the competition. Do temporary markdowns align with your brand image ?

Keep Up with New Meraki APIs, Monthly

Cisco Retail

Earlier this month, I encouraged you to join the beta for Meraki Webhook Custom Payload Templates , a low-code feature that allows you to create custom payload templates for webhooks to fit the JSON shape, markdown preference and authentication headers that fit your needs.

Burberry’s focus on younger customers is paying off

Inside Retail

Burberry’s focus on full-price sales data is intended to overshadow the 3-per-cent decline in overall same-store sales as the company pursues a strategy of exiting markdowns.

Burberry’s transformation pays off as APAC and digital lead its recovery, says GlobalData

Retail Times

versus FY2018/19), full-price comparable store sales grew by 7% as its focus on streetwear attracted younger shoppers and resonated well with consumers, and the reduction of markdowns boosted its brand equity.

How to Prepare for Holiday Pricing Success: AI & Science-powered Pricing is Key

365 Retail

The result can be costly post-season markdown events that leave retailers stuck with short-life seasonal items that necessitate steep marks or even complete write-offs.

Top 5 rules of successful fashion buying for your brand’s growth

Inside Retail

Proactive markdowns. Clear as you go (CAYG) is a retail markdown strategy that means acknowledging the slow movers at the six-week mark and discounting them early. There’s buying, and then there’s buying for growth.

Supercharge Your Holiday Pricing with AI-powered Data Science

Retail Touch

With seasonal items in particular, missing the mark on pricing, even if only a little, often results in excess stock on hand that has very weak demand, necessitating markdowns. Under any circumstances, the holiday season is a do-or-die time for retailers across virtually every segment.

Millennials lead the way on price sensitivity as the UK ‘cost of living crunch’ bites

Retail Focus

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.”.

5 Seasonal Merchandise Best Practices (2021)

Retalon

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. 5 – Protect ROI by optimizing markdowns of your seasonal merchandise.

Ralph Lauren debuts mass customization of its polos

Retail Wire

David Lauren, the company’s chief innovation and branding officer and vice chairman of the board, said that the customized polos will enable the company to reduce waste, limit inventory and cut markdowns on the brand. Shoppers on Ralph Lauren’s website will be able to create custom polos by choosing various colors for the shirts along with a monogram. The fashion label is planning to offer additional features include customized patterns and logos over the next year.

AI Company Retalon Wins Retail CIO Radar 2022 Award in Two Categories: Supply Chain and Merchandising Technology

Retalon

Retalon, a Toronto-based retail AI company, has been recognized for advancing retail technology in supply chain and merchandising in 2022.

Join the Beta for Meraki Webhook Custom Payload Templates

Cisco Retail

Now in Beta, Webhook Template is a low-code feature that allows you to create custom payload templates for webhooks to fit the JSON shape, markdown preference and authentication headers that fit your needs.

What’s in-store for 2022? How the store will evolve in the age of digital acceleration

Retail Focus

INTERSPORT recognised that manual in-store pricing was becoming a time-consuming task for its employees, with markdowns on goods, such as footwear and trainers, applied manually and often during busy sales periods.

B&M ups profit outlook due to less discounting

365 Retail

Sell-through rates in those categories have been high and accordingly end-of-season markdowns have been limited.”. Discount retailer B&M Bargains has revealed profits are now expected to be higher than first thought.

Urban Outfitters’ banners post big same-store gains, reports 1Q profit

Retail Wire

The first quarter was one for the record books; record sales, a record low markdown rate, and record earnings per share … Strong ‘comps’ were driven by powerful demand and superb execution by all teams. Urban Outfitters, Inc. posted a 51 percent gain in same-store sales — Free People jumped 77 percent, Anthropologie grew 50 percent and Urban Outfitters was up 42 percent. The retailer posted a profit of 54 cents per share, compared to a loss of $1.41 last year.

Coles pockets $1 billion profit as Smarter Selling pays off

Inside Retail

Coles’ Smarter Selling strategy is paying off for the Australian supermarket giant, with approximately $300 million in extra savings in the bank at the end of FY21. At its full year results announcement on Wednesday morning, Coles revealed that net profit broke the one-billion-dollar mark, rising 2.8