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When I published Fashion Goes Tech, retail was suffering the worst crisis ever: covid-19. In other words, no footfall, no conversion, no inventoryturnover, frozen cash flows, no business. Empty streets, no traffic, stores closed.
One of the key inventory metrics retailers track is inventoryturnover. Inventoryturnover measures how many times a company sells and replaces its inventory during a period. It indicates how efficiently inventory is managed and whether excess inventory is tying up too much capital.
As the year-end shopping season kicks off, Zalora , one of Asia’s leading online fashion retailers, and part of Global Fashion Group (GFG), is ramping up its marketing to capture consumers’ attention. It facilitates wider brand reach, quicker inventoryturnover, and direct engagement, thereby fostering increased brand loyalty.
Xue explained that European beauty and fashion brands have gained significant popularity among Chinese consumers, presenting immense market potential for both established and emerging brands. Additionally, the fashion industry often encounters supply chain challenges such as inventory management and high return rates.
Utilize inventory management software to automate processes and minimize manual errors. Analyze financial performance: Regularly analyze key financial metrics such as gross margin, inventoryturnover, and return on investment (ROI) to assess the health of your retail business.
Consider factors such as production volume, inventoryturnover, sales channels, and regulatory requirements. How to Choose the Right Footwear ERP Solution Here are the essential steps for choosing the right ERP system for your footwear business: 1.
Leading fashion retailers who implemented AI-driven attribute-based planning saw a 30% improvement in inventoryturnover due to better product grouping and demand alignment. This allows them to measure the impact of AI on forecast accuracy, inventoryturnover, and operational efficiency before scaling up.
Improving InventoryTurnover Excess stocks tying up cash flow are the bane of any retail business. Inventory management software provides perpetual cycle counting and analysis of turnover rates by SKU. The software provides demand transparency and replenishment automation to minimize stockouts.
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