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Like many brands dealing with COVID-19, DTC jewelry brand Mejuri was forced to focus intently on its online operations this year. SoundCommerce allows us to track the exact impact of these variables on our profitability as we make real-time decisions regarding assortment, promotions, inventory, marketing and fulfillment.”
Jewelry retailers need to determine the right assortment mix that offers a good selection while having the right depth of inventory for each SKU. What fulfillment methods are you offering? Liquor stores have legal restrictions such as wet/dry zones, state lines, and deal with inventory in pallets, cases, and individual bottles. .
It’s been almost a joke what has happened in retail business for years where retailers will declare a promotion or announce a markdown, 20 percent off, and the stores will not have any additional inventory to support it. Bob Johns: Interesting. The very first report had suggested to move a sufficiently large diamond to a new location.
Retailers must maintain a healthy In-Stock Percentage for every product at every store, in order to avoid out-of-stocks, lost sales, failed promotions, and costly markdowns. This avoids markdowns that cut into profit margins. In particular, effective promotion planning depends on having accurate measurements of In-Stock Percentages.
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