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Small retail businesses are under threat. Here’s how they can prosper

Inside Retail

“For example, around 25 per cent of retail businesses are out of stock of their top-selling items for at least 30 to 40 per cent of the time. The other issue is that typically, around 20 per cent of all inventory on the shop floor is dead. They should be doing more highly personalised and targeted marketing.

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Maximizing Cash Flow

Storis

The following is used for the Turns formula: Turns = Year’s Cost Of Goods Sold $/Year’s Avg Units On Hand * Year’s Avg Unit Cost $ This ratio provides insight into how quickly a business can convert its stock into sales. In conjunction with these efforts, implementing effective marketing strategies is key to enhancing inventory turnover.

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Try-On Data Unlocked: Driving In-Store Analytics for a Smarter Retail Experience

Retail TouchPoints

Traffic Hot Spots and Dead Corners: If a back corner sees minimal fitting room requests, a quick refresh – better signage, new product groupings or a complementary seating area – can coax customers to explore. Localized Inventory: When certain products spark high try-on rates in one region, stock up accordingly.

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Consumer Confidence Strategies – Turning Uncertainty Into Opportunity

Storis

Dynamic Reordering: Monitor sales performance in real-time and adjust purchase orders accordingly to prevent dead stock or shortages. STORIS Replenish Stock Inventory Based on Sales Rate analyzes current sales rates. Retailers need to strike a balance between staying current and building strategies that outlast fleeting fads.