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Michelle Wlazlo, formerly the Chief Merchandising and Supply Chain Officer of JCPenney, has been promoted to Brand CEO of JCPenney. Our relationship with more than 60 million customers and the deep data we have create a compelling consumer value proposition across our brands, said Rosen.
Inflation has an impact on nearly every aspect of the economy, including raw material costs, wages, transportation, and, ultimately, the prices consumers pay for goods and services. Rising costs and shifts in consumer behaviors have a significant impact on the retail industry.
Great product diversity, changing consumer demands, and the expansion of e-commerce have turned inventorymanagement into a major pain point for retailers. Poor inventorymanagement results in overstocking and under-stocking, impaired cash flow, and losses from theft and spoilage. Here are some reasons why: 1.
In general, consumer spending on goods has proven weaker as more Americans are spending available funds on services, travel and activities that were limited during the pandemic ,” said Lisa Plonka, Partner and leader of Plante Moran ’s Consumer Goods Practice. By comparison, electronics saw a 1.4X Sporting Goods : 10% vs. 6%.
Revolutionize Retail Efficiency: The Power of a Mobile InventoryManagement App In today’s fast-paced retail world, staying ahead means managing your inventory with precision and speed. Streamlined Inventory Tracking Why waste time with manual processes? Ready to transform your operations?
As contactless and frictionless payment solutions continue to evolve, they are not only transforming the shopping experience but also shaping the future of seamless transactions, offering greater convenience, efficiency, and flexibility for consumers across both retail and online platforms.
As consumers move seamlessly between online, mobile, and physical store channels, retailers must keep pace through an omnichannel strategyone that unifies every customer touchpoint into a cohesive, frictionless journey. When retailers meet these demands, they reap the rewards of loyalty, word-of-mouth promotion, and repeat purchases.
Ramadan continues to be a crucial shopping period across Southeast Asia, with evolving consumer behaviours and market dynamics shaping the retail landscape. However, Indonesia experienced an 11 per cent decline in online sales, pointing to shifting consumer preferences and the need for brands to refine their Ramadan strategies.
The Importance of Capturing Consumer Choices Every moment a consumer decision is not influenced in your favor, it represents a vulnerability. This report explores the five core pillars that are essential for capitalizing on every consumer moment and improving your outcomes.
consumers reported that they experienced a worsening economic situation over the past year, and members of this group said it would take time for their concerns to subside even as economic stressors abate, according to Deloitte’s Global State of the Consumer Tracker. Promotions can be Effective in this ‘Deal-Seeking’ Environment.
The retail landscape is transforming, driven by rapid technological advancements and changing consumer behaviors. By analyzing data derived from network traffic, retailers can unlock profound insights into customer behavior, store performance and inventory efficiency.
When UK and Irish discount book, games and toy retailer The Works set out to improve the accuracy and efficiency of its inventorymanagement across its stores it turned to Zebra Technologies to revolutionise its back-end management system. To me, there is no greater accolade I could offer.”
Do you know how to manage your inventory as effectively as possible? What are the inventorymanagement best practices? If you can’t answer these questions, it’s time to reconsider how you manage your inventory. Do you have enough stock on hand?
consumers have been pulling back on clothing and durable goods as soaring inflation raises the cost of food and basic items. Wholesale inventory bloat, combined with a softening demand in the economy, is taking its toll on cash flow and earnings at retailers. . Offer Promotions & Product Markdowns. Donate Excess Inventory.
For today’s consumers, price and availability aren’t just practical considerations, they are foundational elements of trust. However, our recent surveys highlight that many brands and retailers are still grappling with discrepancies and stock issues, which can erode consumer confidence and loyalty.
We’re talking to a consumer that will drive the next 10 years of our business, so at the least they would expect mobile technology [in our stores],” said Hewitt. Additionally, Jumpmind built an inventorymanagement tool into the POS, so we can transfer product, receive product and do cycle counts — it’s all baked in now.”
McIntosh took Retail TouchPoints behind the scenes of Instacarts evolution, from online delivery company to full-fledged technology partner helping to reshape one of consumers most fundamental shopping occasions and where its looking next. It’s very rare to find something with so much consumer pull.
Retailers and consumers alike are bracing for a holiday season much like the last — masks look set to remain a top stocking-stuffer; “supply chain” has a become a daily topic in mainstream media; and parents are gearing up for tears with the top toys of the year already predicted to go out of stock. Early Birds Get the Products.
This allows headquarters and field teams to correlate store conditions (like product placement, promotion compliance, and availability) with actual sales performance, leading to smarter, faster decision-making. Identify trends in promotion execution or availability that may be affecting performance.
Facing the complex task of data analysis, artificial intelligence can help retailers determine customer promotions of interest and potential customer churn. Nearly any store-within-a-store model will mandate a store-wide shift in inventorymanagement to make way for new products and increased storage from the partner brand.
According to eMarketer , in 2024, retail media impressions grew by 28% year-over-year, with clicks increasing by 20%, indicating higher consumer engagement facilitated by AI-driven strategies.
Rather than being limited to a jam-packed four to five weeks from Black Friday to Christmas Eve, consumers are beginning their shopping as early as October (with a few doing so even earlier than that). McNamara spotlighted a surge in promotional activities in July 2022 that marked the official kickoff of the back-to-school season.
Accurate demand forecasting is the bedrock of efficient inventorymanagement — a vital logistics function that should be operating at peak performance levels during the holiday shopping season when consumers expect the inventory they want to be available. 2: Order cycle time.
Ecommerce first promised consumers convenience, but in the last decade it has also brought increasing value to market by combining its transactional data with shopper journey data — offering manufacturers near-real-time metrics on campaign performance. The collection, preparation and use of data in retail is a “core business.” Tomorrow?
In this kind of shopping environment, how should retailers align their promotions and markdowns for the greatest impact? Keeping in mind as well the need to optimize their supply chain fulfillment to meet consumer delivery expectations while managing parcel carrier costs?
Get ready, get excited, retailers and customers alike, the 2D barcode, a compact square label with splotches and spaces that encode up to 350X more data than a traditional UPC (4,000 characters) will have a significant impact on managing the business and delivering better customer experiences. Who doesn’t want that?
It’s really the tale of two years ,” said Matt Kramer, National Sector Leader, Consumer and Retail for KPMG US. We were still in the pandemic, and I don’t think consumers really knew how long it was going to last, and that created uncertainty during the holiday period.
In manufacturing, product substitution can be a valuable tool for optimizing inventorymanagement. Market conditions are dynamic, and consumer preferences change — retailers and manufacturers need to adapt to these factors quickly.
The 2021 Connected Consumer Series reflected the challenges retail (and society as a whole) have faced during the past year, but also the growing sense of optimism that is taking hold this year. How to Take Consumer Engagement and LTV to New Levels. Listen to the session on demand. Listen to the session on demand.
Nowhere is that more true than the retail market, which has seen a fundamental shift among consumers in the wake of the pandemic. The pandemic has transformed how consumers behave by accelerating their embrace of digital commerce, and the changes are likely to prove permanent, according to businesses studying and adapting to the changes.
However, with consumer sentiment low and economic concerns still front of mind, this approach could backfire. With the constant pressure on revenue and profitability, retailers need to rethink their returns strategies to protect their margins while providing a frictionless experience for consumers. Inventory optimization.
This is not just a transient trend but a robust response to the changing consumer, who now craves the tactile satisfaction of in-store shopping along with the personalisation and convenience of online commerce. Today’s consumers might browse products online and then feel, try and buy them in physical stores.
Consumers today expect a better in-store shopping experience from brick-and-mortar retailers, and retailers that can give it to them will continue to thrive even in the face of ever-increasing convenience from online competitors. Better inventorymanagement means better business operations, period. Costco grew revenue by 6.7%
Inventorymanagement. With innovative inventory tools, retailers can always be sure the necessary goods are in stock in a particular store. Smart merchandising helped GetGo improve the consumer experience and increase sales. Self-checkout.
The retail industry in particular has largely embraced these 2D barcodes to elevate shopping experiences, using the technology to access everything from contactless payments and product content to price comparisons and personalized promotions. QR can also streamline inventorymanagement and supply chain operations.
The extreme, rapid shifts in consumer behavior during the pandemic reaffirmed several underlying issues with retailer and CPG brand collaboration. But now, as many retailers and brands strive to understand and respond to ever-changing consumer needs, there is a prime opportunity to make improvements. Cleaning products.
Consumers are enjoying the benefits of a hands-free, voice-activated application to help cook a recipe or shop online. Secondly, brands are lagging vis-à-vis serving “conversational consumers.” Brands must anticipate prompts from consumers and respond in various ways, which are then coded in on the back end.
Online retailers are using AI to create intent-based promotions. Computer vision can track products that consumers remove from the shelves and place in their cart. AI has a lot to offer grocery stores, especially in inventorymanagement. AI tools reduce the lost inventory in one of two ways.
In 2022, a National Retail Federation/Prosper Insights and Analytics survey indicated that 56% of consumers had started their BTS shopping by early July, with 81% planning to shop sales the week of July 11. But generally speaking, consumer sentiment is still quite positive — we need to see if that holds up over the summer.
It’s no secret that consumer-facing retail has had a tough year trying to stay price-competitive for customers. Like many retailers, we have had to contend with inflationary pressures and greater promotional cadence, which has had an impact on profits,” said King.
Consumer expectations of retailers have been transformed by their experiences buying from Amazon and other innovative retailers that are able to provide fast, efficient omnichannel experiences. In tandem, consumer expectations have grown. Consumers expect immediate gratification. Holiday shopping season is upon us.
Simultaneously, consumer demand for new connected devices — such as cellphones and tablets, smart systems, and connected wearables and hearables — has never been higher. Added to that, even on a single device and rate plan sale, the retailer might be tracking upwards of five different subsidy types, depending on promotions at that time.
Valentine’s Day saw consumers projected to spend an average of $16 on chocolates and candy — up from under $9 per person in 2010 — while Halloween candy sales reached a record $3.1 This further complicates how consumers can sustainably dispose of candy wrappers and packaged products. billion on Easter candy alone. billion in 2022.
The barcode was initially developed to improve the checkout experience and inventorymanagement in the grocery sector and it is now used in almost every industry and sector. The barcode has also been instrumental in promoting sustainability in the supply chain. Without it, the modern global supply chain would be unimaginable.
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