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Extended Back-to-School Season Spotlights Need for Tactical Markdowns

Retail TouchPoints

Among the 86% of consumers that still had shopping to do, 45% said they were waiting for the best deals to complete their BTS purchases, and that search for bargains is another key headline this year. Additionally, shoppers are continuing to buy even after school has started to save on markdown items and stretch their budgets further.

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What are Retail Markdowns?

Wiser

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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How retailers are protecting margins and profits amid economic uncertainty

Inside Retail

We sat down with leading retail finance experts from The Reject Shop, Forever New, Taking Shape and Vinomofo to find out. Clinton Cahn, CEO of The Reject Shop, noted that there has been a rise in demand for everyday essential items, whereas its discretionary range showed a drop-off in demand, which affected margins.

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How to Align Markdowns with Psychological Pricing and Marketing 

Wiser

They are also a way to ensure markdowns and promotions are effective. The last thing you want to do is condition your consumers to only shop during sales. If your markdown and sale patterns become obvious to your consumer, they will wait for those markdowns and hold off on shopping until a promotion rolls around.

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More recessions lessons from Greenlit Brands, Camilla, Super Retail

Inside Retail

Some of these retailers have gotten into trouble because they foresaw the challenges of the supply chain – the shortage of containers and container ships – and they overspeculated on their inventory, which is just a gamble. Today, with data analytics, shopping habits are far easier to assess. Cash is king. Know your demographics.

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Meet Lindsay Nicholas, the fashion designer bringing NY edge to Melbourne

Inside Retail

With luxurious touches, such as a VIP area with velvet chairs, a personal shopping service, and free domestic shipping for in-store customers, Nicholas calls it “one of the most elegant stores” she has ever seen. In the US, women are more averse to a drop-crotch pant, which in Australia is more common.

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15 Tips to Succeed as Brick-and-Mortar Retail Reopens

Wiser

4: Use Promotions and Markdowns to Move Seasonal Inventory. We recommend using promotions and markdowns to move that inventory quickly. We recommend using promotions and markdowns to move that inventory quickly. One reason is that consumers have gotten used to shopping online even more than they already were.

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