Retalon

FEBRUARY 5, 2025

Unlike traditional methods, which rely heavily on static historical data, predictive analytics uses advanced modeling to account for current and future trends, external variables, and market shifts. learn more… Fewer Markdowns Minimize profit loss from excess inventory.

Planning 41

Planning Markdowns Fulfillment Marketing 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. That extends the opportunity for the salesperson to build a rapport with the customer and potentially upsell.

Loss Prevention 147

Loss Prevention Shrinkage Inventory Management Markdowns 147

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

365 Retail

FEBRUARY 17, 2022

With 330 bricks-and-mortar stores globally, its digital fashion offering, available in both the UK and US, has experienced fast-growth, and now accounts for 40% of its sales. To do so requires leveraging granular forecasting for online fulfilment and store sales demand, while taking returns into account.”

Markdowns 52

Markdowns Fulfillment Shipping Fashion 52

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. Account for items you can’t sell – If you cannot sell an item due to damage, make sure it is classified as non-sellable.

Inventory Management 111

Inventory Management Management Inventory Turnover Drop-Shipping 111

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. Account for more variables in your seasonal merchandise planning. Planning for seasonal sales has always been a bit of a gamble.

Markdowns 41

Markdowns Promotions Accounting Planning 41

Retail Minded

FEBRUARY 24, 2022

From when and where to what locations matter to them. Today, even before consumers make a decision to buy something, they want to know if there is enough stock available to fulfil their order, and they want to see when an order can be delivered to whichever location they desire. The pandemic undoubtedly changed consumer behaviour.

Fulfillment 111

Fulfillment Markdowns Consumer Specialty Retailers 111

Retail Smart Guys

JANUARY 28, 2023

Well, this can be true if you are not using the right approach in handling multi-store accounts. There are numerous ways you can deal with this, one of which is the by-store location approach, which we at Retail Smart Guys have already been using in our retail services for over a decade.

Planning 52

Planning Markdowns Finance Location 52

Retalon

JUNE 10, 2020

may cover generic approaches to managing and optimizing price for any given product, but they don’t account for the most critical variables that determine your pricing success. Retailers who don’t account for these considerations often struggle with profitability. ultimately determine how profitable your business is.

Planning 41

Planning Markdowns Promotions Accounting 41

Retalon

JANUARY 17, 2022

Granted, many retailers have developed pricing strategies that account for multiple factors affecting product price, such as; Production and distribution costs Competitor pricing Revenue goals. On top of having visibility across the business, retailers also need to account for all internal and external factors that affect pricing and demand.

Retailing Pricing 41

Retailing Pricing Markdowns Promotions Accounting 41

Retalon

SEPTEMBER 1, 2023

Mark it down…strategically Markdowns are generally part of any product’s life cycle. So, if you have a ton of inventory and markdowns are a must, then the key is to sell it while making the most profit possible. Instead, prioritize strategic markdowns.

Markdowns 41

Markdowns Net Profit Consumer Location 41

M19 Retail

APRIL 14, 2021

The multiplication of choices induced by this model translates into a drop in productivity of the physical store space and an increase in markdowns at the end of the season to sell unsold products. Retailers today group stores based on a combination of a limited number of attributes such as volume and location.

Point of Sale 52

Point of Sale Management Markdowns Accounting 52

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

Retail Adventures

AUGUST 20, 2024

Where are important basics and hot sellers located on the sales floor? o How does the retailer differentiate between full price and markdown merchandise? Google Alerts are still important but you’ll also want to set up a free account with TalkWalker to learn what’s being said about your store online. Are they unique?

Shopping 91

Shopping Merchant Services Visual Merchandising Markdowns 91

Retalon

JANUARY 6, 2021

In reality, replenishment planning is a fairly complicated process that has to account for many variables, including logistics routes, timelines, availability, and cost. 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.

Planning 41

Planning Markdowns Accounting Shipping 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

Retail Smart Guys

FEBRUARY 14, 2023

Well, this can be true if you are not using the right approach in handling multi-store accounts. There are numerous ways you can deal with this, one of which is the by-store location approach, which we at Retail Smart Guys have already been using in our retail services for over a decade.

Planning 40

Planning Markdowns Finance Location 40

Retalon

FEBRUARY 21, 2025

To build an optimal assortment, retailers can employ AI-driven Assortment Planning tools , which enable planning at the most granular levels while accounting for all the factors that may impact product demand. Not all locations are made equal. You look at your computer and see how much inventory has been sold in each store location.

Markdowns 41

Markdowns Planning Inventory Management Drop-Shipping 41

Retalon

MAY 10, 2024

At home, the gift budget may need to be significantly higher in December than in January to account for holidays. 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.

Planning 41

Planning Markdowns Merchant Services Payment Services 41

Retalon

MAY 10, 2024

At home, the gift budget may need to be significantly higher in December than in January to account for holidays. 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.

Planning 41

Planning Markdowns Merchant Services Payment Services 41

Retalon

MARCH 2, 2021

Destination resorts that run gift shops must account for occupation rates in their hotels as well as weather. . What sizes should you offer for each product at each location? What unique features, processes, or variables you’d like to include as a business rule or want to be accounted for. For instance, . Do you run promotions?

Fashion 41

Fashion Markdowns Promotions Accounting 41

M19 Retail

MARCH 17, 2021

It helps boost staff productivity by providing real-time inventory access to store managers and store associates, while establishing a single version of the truth for inventory, pricing, and location data.

Inventory Management 40

Inventory Management Management Markdowns Planning 40

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. There are multiple factors and variables to account for and stay ahead of. In order to shorten replenishment time, the best medicine, as is often the case, is prevention.

Inventory Management 47

Inventory Management Fulfillment Markdowns Management 47

Mass Relators

DECEMBER 21, 2021

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. Prescription sales from continuing operations accounted for 71.1 percent of total drugstore sales.

Markdowns 52

Markdowns Planning Accounting Marketing 52

Retalon

APRIL 14, 2021

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. Clustering retail locations by common attributes let you tailor the assortment more closely.

Markdowns 41

Markdowns Planning Location 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

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. Most commonly, retailers use geographical clusters to better account for demographics, distribution cost, climate, and other relevant factors to their business.

Markdowns 41

Markdowns Promotions Inventory Management Accounting 41

Retalon

FEBRUARY 12, 2021

If your predictions are inaccurate (or your assortment plan fails to reflect consumer demand) — you’ll be facing out-of-stocks, markdowns, and unhappy customers all year. Their only option may be high-level planning that doesn’t take individual stores, demographics, and constraints into account. This is easier said than done.

Planning 41

Planning Accounting Markdowns Store Layout 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. As a result, retailers are able to have better control and even avoid out-of-stocks and overstocks.

Fulfillment 41

Fulfillment Markdowns Promotions Shipping 41

Retalon

FEBRUARY 13, 2018

Retailers carry tens or hundreds of thousands of SKUs, far too many for buyers to accurately forecast every product at each channel/location. The problem stems from business intelligence, buyer intuition, or company targets lacking the ability to account for all factors that affect demand. Key Takeaways. Request a personalized demo.

Markdowns 32

Markdowns Inventory Management Promotions Accounting 32

Retalon

FEBRUARY 13, 2018

Retailers carry tens or hundreds of thousands of SKUs, far too many for buyers to accurately forecast every product at each channel/location. The problem stems from business intelligence, buyer intuition, or company targets lacking the ability to account for all factors that affect demand. Key Takeaways.

Markdowns 32

Markdowns Inventory Management Promotions Accounting 32

Retalon

FEBRUARY 13, 2018

Retailers carry tens or hundreds of thousands of SKUs, far too many for buyers to accurately forecast every product at each channel/location. The problem stems from business intelligence, buyer intuition, or company targets lacking the ability to account for all factors that affect demand. Key Takeaways.

Markdowns 32

Markdowns Inventory Management Promotions Accounting 32

Retalon

FEBRUARY 10, 2022

Drastic Markdowns. Last minute markdowns that offload stock at a loss. Inventory storage, overstock management, ROI lost to markdowns, even lost sales due to stockouts, are all tangible costs of bad inventory. Accounting for all relevant factors requires advanced mathematics and powerful computing. .

Management 41

Management Inventory Turnover Inventory Management Dead-Stock 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

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. Instead of turning every B&M store into a fulfillment node, some retailers have realized massive cost savings by centralizing fulfillment to a select few locations.

Fulfillment 41

Fulfillment Drop-Shipping Shipping Returns 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