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Inventory Management Tips for Retailers to Reduce Overstock and Increase Profits

RETAIL MANAGEMENT SOFTWARE

Whether you’re selling sneakers, sofa sets, or fine jewelry, carrying too much stock ties up cash, eats up space, and leads to markdowns. Experiment with markdowns, flash sales, or multi-buy offers like BOGO or “Buy 3, Get 1 Free.” Return or Exchange with Vendors Check if your vendors allow returns or swaps.

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How retailers are protecting margins and profits amid economic uncertainty

Inside Retail

Many retailers tightened their belts to preserve cash flow and shareholder returns, and implemented cost-out campaigns to offset margin erosion from discounting activities. Putting older products through markdowns might not necessarily be the trigger [either], as customers want a quality product.

Markdowns 130
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As Consumer Demand for Inclusion Rises, Retailers Must Tackle Legacy Issues and Attitudes

Retail TouchPoints

this year alone, representing approximately 21% of the total women’s apparel market. The business case is clear, but the looming question for apparel brands and retailers is: How do we make inclusivity a tangible — and profitable — business strategy? billion in the U.S. Inclusion Definitions Expanding Beyond Sizing.

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How Retailers can Overcome the Challenges Faced on the Path to Sustainability

Retail TouchPoints

To help address this, some retailers have been using advanced artificial intelligence (AI) to improve forecasting capabilities and optimize markdown processes to reduce product waste. In return, sustainability presents an opportunity for retailers to give people what they want and benefit the planet while helping the business’ bottom line.

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Sick of hearing about AI? The key is understanding how to make it work for you

Inside Retail

AI can identify the fastest retrieval routes, automate markdown processes, and provide real-time inventory insights, ultimately improving your margins. Loss prevention: AI combats retail shrinkage also, by integrating computer vision and motion analytics at self-checkouts, detecting suspicious activities and ultimately reducing theft.

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How to Build Product Pages That Convert

Retail TouchPoints

An item’s popularity or novelty can be communicated via badges that read “best seller,” “newly added,” or even “new markdown.” The end goal of product pages is to make that item — be it an electronic, a piece of apparel or a pair of shoes — as irresistible as possible.

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Why Nike’s China rebound is still up in the air

Inside Retail

That’s particularly true of the athletic footwear and apparel business in a growth market like China, where there are a lot of new entrants and the early movers are beginning to seriously sweat the competition. per cent in the APAC region as a whole and Greater China had “returned to growth” after “two years of declining business”.

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