Remove Fashion Remove Inventory Management Remove Markdowns
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What are Retail Markdowns?

Wiser

Inventory management will rarely be the only thing that makes a retailer successful, but it can absolutely be the something that breaks you. Knowing what your customers like is one thing, but understanding how much of each item you need on shelves and how to price them is where inventory management can go awry.

Markdowns 128
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Preparing for the Rise in Online Retail Returns

Retail TouchPoints

Optimizing inventory based on trends and historical data means the customer will get the exact item they are looking for. Returns are increasing labor costs due to inspection and restocking time and often cause markdowns, out-of-stock and logistics expenses to increase. Retailers can also create a return policy that avoids waste.

Returns 306
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From Barcodes to Bytes: Retailers Prepare for Next-Generation UPC

Retail TouchPoints

Another UPC alternative, RFID, which first made waves in retail 10+ years ago, has also had a slower adoption, largely because of cost and implementation hurdles, despite its having similar benefits, specifically to track and manage inventory and enabling checkout-less “just walk out” transactions. Doesn’t that sound amazing?!

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

Inside Retail

Inventory management Predictive analytics: This helps optimise your stock levels, preventing overstocking and stockouts. AI can identify the fastest retrieval routes, automate markdown processes, and provide real-time inventory insights, ultimately improving your margins.

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Beyond the hype: What retailers can do with GenAI today

Inside Retail

Similarly, AI can analyse social media images and fashion magazines to identify emerging trends, helping retailers stay ahead of the curve and stock products that will interest customers. It can also provide dynamic routing with adaptations to disruptions and delays and general risk management. Airlines have been doing this for years.

Markdowns 130
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Gap quarterly sales decline underlines ‘dire’ state of the business 

Inside Retail

Embattled US fashion company Gap has reported an 8 per cent decline in second-quarter sales to US$3.55 Better inventory management resulting in fewer markdowns and lower freight costs were helpful to the number. billion as its market share continues to erode. Over the past two years, Gap’s sales are down by 15.7

Markdowns 130
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How Data Analytics is Saving the Fashion Industry (2020)

Retalon

In today’s landscape, when a new fashion retail trend latches on, companies need to have the ability to make the right decisions quickly. So, why is advanced analytics so successful and what is the difference between the traditional approach and this new advanced approach to fashion analytics? Fashion Retail’s Unique Challenges.

Fashion 41