Wiser

APRIL 7, 2020

Altering your price, particularly through markdowns, can be a smart strategy, but only if done correctly. Unsuccessful or excessive markdowns can lead to staggering losses in terms of missed revenue and a lower margin on your goods. What are Retail Markdowns? How to Implement a Markdown Strategy. Don’t believe us?

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Markdowns Inventory Management Drop-Shipping Apparel 128

Inside Retail

NOVEMBER 27, 2024

With consumer sentiment and discretionary spend down, many retailers are already facing reduced profit margins and a higher cost of doing business, making hefty discounting for prolonged periods a particularly costly exercise. LSKD’s approach has also garnered the attention of consumers and its community. “We

Markdowns 241

Markdowns Promotions Advertising Department Stores 241

Retail TouchPoints

DECEMBER 6, 2024

Dollar General has struggled in the last year as lower-income households have pulled back on discretionary spending, while at the same time it has been fielding a host of consumer complaints about the condition of its stores. The retailer has been fined several times recently for workplace safety violations. over the same quarter in 2023.

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Planning Customer Experience Markdowns Kiosk 285

Inside Retail

JUNE 1, 2021

We want to be the first port of call for brand-conscious and value-conscious Gen Z and millennial consumers,” said Justin Seskin, one of TheDOM.com’s co-founders, along with Thrills director Howard Blend and It Works managing director Paul Downs. . Everyone might go 30 per cent off on their first markdown, but their reach is limited.

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Consumer Markdowns Planning Shopping 246

Retail TouchPoints

SEPTEMBER 17, 2021

The Adobe Index — which analyzes consumer transactions across more than 100 million SKUs in 18 categories — found that consumers have spent more than $541 billion online in the first eight months of this year, from January through August 2021. However, the report indicates that consumer fears about inflation have not been inflated.

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Consumer Home Furnishings Apparel Markdowns 262

Retail TouchPoints

MARCH 17, 2025

These mismatches also create the need for either markdowns or additional shipping costs to get the products to where they are more likely to be sold. They dont listen to consumers or market signals; we find over and over again that they dont do this right.

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Markdowns Inventory Management Marketing Consumer 216

Retail TouchPoints

DECEMBER 12, 2023

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?

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Markdowns Retailing Pricing Promotions Fulfillment 278

Retail TouchPoints

AUGUST 13, 2024

AI in Pricing: Automating Markdowns to Increase Sell-Through and Profit Lifecycle pricing is an intensely data-driven process for retailers, and markdown optimization is a key area where AI can deliver greater value. Adopting the co-pilot approach to AI today will ensure the long-term success of AI in any retail business.

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Markdowns Loss Prevention Customer Experience Inventory Management 311

Retail TouchPoints

JULY 18, 2023

As part of the new multiyear agreement — which builds upon a partnership that started in 2016 — Academy will use the Revionics Base Price and Markdown solutions to not only optimize its pricing strategy but better manage inventory levels throughout the product lifecycle.

Outdoor 235

Outdoor Markdowns Apparel Fulfillment 235

Inside Retail

APRIL 1, 2025

Walking the margin With consumer sentiment falling to new lows in 2024, the challenge on top of mind for many retail CFOs was preserving margin amidst conflicting business needs. That wasnt helped by shrink in-store, particularly consumables, reaching an all-time high.

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Promotions Finance Markdowns Drop-Shipping 130

Retail TouchPoints

AUGUST 19, 2021

Back-to-school surveys across the retail sector point to a strong season, spurred by pent-up consumer demand. Jeff Orschell, EY’s Americas Consumer Retail Leaders, noted that global data as well as the firm’s consumer research point to demand remaining elevated, despite the uncertainties.

ATS 299

ATS Markdowns Consumer Social Commerce 299

Retail TouchPoints

OCTOBER 3, 2023

Having focused thus far solely on why solving for consumer experience necessitates that a portion of demand and supply must be shifted forward into the supply chain, into stores and away from DCs, let’s now look at factors within the retail operation that making shipping from store a necessity.

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Fulfillment Drop-Shipping Shipping Markdowns 286

Retail TouchPoints

MARCH 14, 2023

Returns are essentially the last link to the circle that closes the consumer loop when it comes to a decision.” When it’s out of season, they have to do markdowns, so it starts a vicious cycle. Someone bought that item a week ago, and now it’s $10 or $20 cheaper, so they return the full price item and buy a markdown item.

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Returns Markdowns Fulfillment Consumer 263

Wiser

AUGUST 24, 2017

They are also a way to ensure markdowns and promotions are effective. On the other hand, if you have a limited time sale or a flash sale where you tell your consumers a specific end date, consumers will be motivated to buy sooner. The last thing you want to do is condition your consumers to only shop during sales.

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Markdowns Marketing Drop-Shipping Promotions 180

Retail TouchPoints

JULY 26, 2022

However, low-margin food and consumable products are expected to make up a greater share of purchases, which will ultimately push profits down as shoppers stock up their pantries to try to keep ahead of inflation. “The is requiring more markdown dollars,” said Doug McMillon, President and CEO of Walmart in a statement.

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Markdowns Apparel Marketing Consumer 317

Retail TouchPoints

SEPTEMBER 15, 2020

COVID-19 has massively influenced consumer behavior, and the economic fallout has had a huge impact on the role of price perception. As a result, consumer behavior has become harder to predict across multiple locations, which makes zone pricing a must for retailers. Within the U.S.,

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Markdowns Technical Support Promotions Consumer 265

Retail TouchPoints

SEPTEMBER 29, 2022

There are signs of a disconnect between consumers and retailers when it comes to sustainability. A recent report has found that two-thirds of consumers are willing to pay more for sustainable products than retailers expect — and reveals that consumer preference for recommerce models is also being underserved. A Starting Point.

Fast Fashion 362

Fast Fashion Fashion Consumer Markdowns 362

Retail TouchPoints

AUGUST 19, 2024

This can be done through the effective use of granular data, which will in turn help retailers maintain customer loyalty and keep their revenues steadier, regardless of fluctuations in national consumer spending rates. With stubborn inflation squeezing the American consumer, times are certainly tough for the consumer.

Consumer 306

Consumer Markdowns Promotions Advertising 306

Retail Dive

JUNE 7, 2022

Just weeks after lowering its guidance, the retailer now expects an even deeper hit to profit margins as consumers pull back on discretionary spending.

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Markdowns Consumer 122

Retail TouchPoints

JUNE 8, 2022

Target is taking multiple actions to right-size its inventory, including additional markdowns, removing excess inventory and cancelling orders, as it makes room for merchandise including groceries and back-to-school supplies.

Planning 279

Planning Supply Chain Management Promotions Markdowns 279

Retail TouchPoints

NOVEMBER 8, 2022

But the truth is that we live in an increasingly “instant gratification hustle culture,” where consumers know precisely what they want and have high expectations. Using AI for search, merchandising and personalization is necessary to deliver a great customer experience and provide consumers with what they want.

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Returns Markdowns Inventory Management Customer Experience 306

Retail TouchPoints

MAY 30, 2023

This was attributed to increased markdowns at Journeys offsetting an otherwise normalized promotional environment, which led to improved margins at the other businesses. Genesco’s gross margin was 47.3% in Q1 2024, compared to 48.3% in Q1 2023. This is really a newer initiative for us.

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Location Markdowns Accounting Promotions 243

Retail TouchPoints

SEPTEMBER 1, 2023

Even though the retailer saw growth in the consumables category, sales across home, seasonal and apparel categories fell. Dollar General reported a net sales increase of 3.9% billion, largely driven by positive sales contributions from new stores. These sales helped offset a 0.1% The retailer also saw a staggering 24.2% in Q2 2022.

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Markdowns Apparel Planning Consumer 264

Wiser

NOVEMBER 29, 2023

Understanding the difference between trade promotion and consumer promotion is crucial for any business seeking to maximize its market impact and sales potential. Consumer promotions, on the other hand, primarily target the end-user of a product or service—the customers. What is Consumer Promotion?

Promotions 146

Promotions Consumer Wholesale Advertising 146

Retail Focus

FEBRUARY 27, 2024

With retailers removing best-before dates to reduce food waste, UK consumers still want supermarkets to offer discounts on goods nearing expiry, according to the latest data from Retail Insight , the leading provider of store operations execution software.

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Markdowns Supermarket Grocer Store Operations 147

Retail TouchPoints

DECEMBER 22, 2022

With margins being squeezed from rising inflation and inventory challenges, brands need to better align pricing with the current market conditions and consumer demand. While these are all valuable inputs, they lack the foresight and first-party nature of direct consumer validation. Striking this balance is delicate, to say the least.

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Retailing Pricing Consumer Markdowns Marketing 278

Retail TouchPoints

JUNE 18, 2024

Most consumers are willing to part with personal information in exchange for something they value – and consumers value many things beyond discounts and markdowns. A company that can strike that balance and discover what consumers are willing to accept in exchange for personal data can build detailed profiles of its customers.

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Markdowns Customer Experience Consumer Accounting 263

Retail Wire

MAY 17, 2021

Burberry is looking to accomplish the feat by focusing on high-demand categories, unveiling a new store concept and addressing the consumer desire for omnichannel shopping and fulfillment. Burberry and Dillard’s are both focused on driving full price sales of new merchandise in their full line stores.

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Markdowns Fulfillment Consumer Shopping 100

Retail TouchPoints

FEBRUARY 15, 2023

So it could be markdown optimization or customer analytics or supply chain or assortment and merchandising — there are a lot of use cases that retailers tend to need. and all of those have a data and analytics element, which is what we’re helping them figure out.”

Merchant Services 290

Merchant Services Markdowns Store Operations Planning 290

Retail TouchPoints

JANUARY 3, 2023

As consumers faced higher prices at the gas pump, grocery stores and other places, many cut back on their spending, increasing the competition among retailers. This was especially evident on Black Friday, when many merchants offered steep markdowns to compete. Inflation and the Incredible Shrinking Margin.

Merchant Services 306

Merchant Services Payment Services Accounting Checkout 306

Retail Wire

JULY 16, 2021

Burberry, which operates 454 stores, reports that sales in the last quarter were up 86 percent over 2020 and one percent from 2019, as younger consumers purchased the luxury retailers clothing and accessories. “We

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Markdowns Accessories Consumer 130

Retail TouchPoints

JUNE 26, 2023

Consumers want more information about the products they buy, and retailers want more visibility into the products their customers buy. Additionally, as consumers demand more transparency from the brands they purchase from, retailers can use these codes as an opportunity to share information on a product’s origin. Who doesn’t want that?

Merchant Services 279

Merchant Services Inventory Management Grocer Customer Experience 279

Retail TouchPoints

FEBRUARY 12, 2021

According to the researchers at the Auburn University RFID Lab, a typical brick-and-mortar retailer without RFID has about 60% SKU-level accuracy, which is simply not acceptable anymore to keep up with consumer demands for speedy fulfillment and a wide product selection. consumer reliance on ecommerce, in-store pickup, and self-checkout.?.

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Fulfillment Markdowns Inventory Management Customer Experience 286

Inside Retail

OCTOBER 25, 2022

Another is markdowns. With consumer preferences changing rapidly, it’s harder than ever to accurately forecast demand. Adjust your sourcing strategies to help reduce markdowns. This strategy works for seasonal markdowns, too. Retailers are stuck with stock that just isn’t moving fast enough. One way is liquidators.

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Markdowns Fulfillment Shipping Location 130

Inside Retail

APRIL 17, 2023

All that combines to shift the mindset of consumers to what we call ‘mindful consumption’. Tread carefully because markdowns will bite hard if you misjudge stock weights. And we predict the influence of the mindful consumer will last for a long period of time. But the effects on people’s wallets will be felt for months to come.

Department Stores 246

Department Stores Markdowns Boutique Supermarket 246

Wiser

OCTOBER 12, 2021

Promotions influence shopper behavior , and consumers are conditioned to search for the best deals and prioritize brands and retailers who markdown products more often than the competition. Examples of TPRs include the standard dollars-off markdown, limited-time coupons, contests, rebates, and more.

Markdowns 147

Markdowns Promotions Consumer Planning 147

Retail TouchPoints

APRIL 6, 2022

Skyrocketing ecommerce adoption means that consumers today browse an endless number of websites. An item’s popularity or novelty can be communicated via badges that read “best seller,” “newly added,” or even “new markdown.” And when they’re not beholden to one brand, they might land on Amazon or another online-only marketplace.

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Checkout Markdowns Apparel Promotions 299