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Myer’s latest trading update is a testament to putting the customer first

Inside Retail

million and now account for 21.3 Our focus remains on seeking to drive further and sustainable cost efficiencies and inventory management,” he added. King has been on a 12-month rolling contract with Myer since 2018 and has decided to retire at the end of this financial year to return home to Florida to be with his family.

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4 Tips for Staying Ahead of Retail Competitors

Retail TouchPoints

To account for this rapidly evolving environment, savvy convenience retailers have focused on closing the gap between what consumers expect and what retailers can deliver. According to NewVoiceMedia’s 2018 Serial Switchers report, businesses lose $75 billion a year due to poor customer service. Focus on service.

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Vitamin Shoppe CEO Sharon Leite Went Undercover in Her Stores. Here’s What She Learned.

Retail TouchPoints

Since taking the helm of the nutrition and wellness retailer in 2018, Leite has introduced a broad range of initiatives aimed at reviving and growing the business. million on inventory management solutions; $1.2 RTP: How do you account for the outsized impact The Great Resignation is having on retail?

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Does Procurement Play a Role in Retail Recovery?

Retail TouchPoints

However, instead of relying on individual store managers to navigate local purchases, corporate procurement teams can add value by organizing the effort, evaluating and sourcing local suppliers, negotiating best pricing and delivery options, and automating the process by using technology to simplify local inventory management.

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The Global State of Autonomous Stores

365 Retail

According to Business Insider Intelligence , the number of global stores with autonomous capabilities rose from only 350 in 2018 to a forecasted 10,000 stores in 2024, with a sales transaction volume of under $70 million to over $20 billion. The sky is the limit for autonomous stores.

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The Paper Store wins Retail Innovation Award

Retalon

The Paper Store was selected for this award due to the technological innovation in it’s supply chain including the introduction of Retalon predictive analytics to optimize inventory management and promotions. TPS is a highly seasonal, event-driven retailer with many high peaks and low valleys in demand.

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5 Ways Predictive Analytics Help Retailers on Mother’s Day

Retalon

The solution will intelligently identify any potential shifts in demand due to product cannibalization and build optimal size curves while accounting for the depth and diversity of the assortment. Most retailers will run promotions with minimal consideration of inventory. 3) Omni-Channel allocation of Mother’s Day merchandise.