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Integrate Pricing, Promotions and Markdowns to Drive Profitability

Retail TouchPoints

But at the same time merchants’ margins are being squeezed, making intelligent pricing and promotions strategies even more critical for success. And by taking an integrated approach to pricing, promotions and markdowns, retailers can use a holistic data-driven strategy that uses the same science and is measurable for all teams.

Markdowns 318
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Google, Accenture Deepen Relationship to Help Retailers Harness and Optimize Their Data

Retail TouchPoints

The integration will allow merchants to merge the capabilities of AI.Retail with Google Cloud technologies such as data analytics, AI and product discovery to more holistically analyze their business. Use cases for the initiative could include everything from product discovery to brand loyalty to regulatory compliance.

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2023: Ring in Retail Profits by Stopping Automated Threats

Retail TouchPoints

This was especially evident on Black Friday, when many merchants offered steep markdowns to compete. By automating the process to create new accounts, fraudsters can use these one-time signup offers over and over again and sell fake accounts to those who wish to get the discount. Bad Bots are Siphoning Profits.

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From Barcodes to Bytes: Retailers Prepare for Next-Generation UPC

Retail TouchPoints

And in 2014, Inditex SA, which owns fast-fashion giant Zara, implemented RFID to effectively track all its products at every step in the process. Brands can include a number of features in a 2D barcode that can help improve and ease access to customer service. alongside a large QR code. Doesn’t that sound amazing?!

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As Consumer Demand for Inclusion Rises, Retailers Must Tackle Legacy Issues and Attitudes

Retail TouchPoints

From research to garment creation, fitting with body shape in mind, marketing, in-store and online customer service, size-inclusive representation needs to be present at a decision-making level within the fashion industry,” Marci added. There is no standardization across the industry and inconsistent sizing leads to markdowns and returns.

Consumer 290
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Let’s Move from Fast Promising to Smart Promising

Retail TouchPoints

As they begin to address these expectations, many retail IT teams are finding that the process is costly and complex. Ecommerce merchant teams invest significant time in analyzing factors such as free shipping thresholds, promotions, pricing and markdowns.

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Open to Buy Retail Planning Done Right

Retalon

We refer to these as Merchant-driven organizations. If you plan to mark down products at a certain stage of the product lifecycle, such as the last trimester of the season, you need to adjust the numbers to account for markdowns. In some organizations, the OTB (budget) serves more as a guiding or advisory tool.