Inside Retail

JULY 18, 2024

If trained correctly by drawing on data from throughout the retail business and with external sources such as econometrics, search, and social media, AI-driven forecasts can deliver at speed and scale and are best when combined with judgemental forecasts where the business activates promotional or other demand-driving initiatives.

Planning 147

Planning Inventory Turnover Consumer Location 147

Storis

MAY 23, 2024

In the context of furniture retail, where capital investments in inventory can be substantial, proactive cash flow management is crucial for maintaining financial stability and seizing growth opportunities. Inventory turnover, or inventory turns, is defined as the inventory turnover ratio.

Inventory Turnover 52

Inventory Turnover Payment Services Dead-Stock Inventory Management 52

I Vend

SEPTEMBER 10, 2023

For example it enables effective marketing – using the POS for customer data tracking and to gather insights that inform and feed into creating promotions that will drive revenue and profit. This level of flexibility reduces lost sales, maximises inventory turnover and increases customer satisfaction along with revenue and profit.

Point of Sale 111

Point of Sale Inventory Turnover Management Inventory Management 111

RETAIL MANAGEMENT SOFTWARE

MARCH 11, 2022

Offering discounts and promotions are effective methods for moving stagnant inventory through the purchase cycle. Utilize drop shipments to avoid excess inventory on hand – Drop-shipping products allow you transfer customer orders directly to the manufacturer.

Inventory Management 92

Inventory Management Management Inventory Turnover Drop-Shipping 92

RETAIL MANAGEMENT SOFTWARE

SEPTEMBER 17, 2024

Enhanced Team Communication and Collaboration Effective communication is crucial for retail success, especially during the holiday season when staff are dealing with increased customer traffic and inventory turnover. These tools allow retailers to: Share updates on inventory levels, promotions, and store changes quickly.

Inventory Management 92

Inventory Management Inventory Turnover Management Customer Experience 92

CJ Retail Solutions

FEBRUARY 14, 2024

Seasonal and Promotional Campaigns: From holiday promotions to seasonal sales events, we can help you capitalise on every opportunity to drive traffic and boost sales. Our team will develop customised merchandising strategies tailored to your specific goals and target audience, ensuring maximum impact for every campaign.

Store Layout 52

Store Layout Inventory Turnover Boutique Promotions 52

Retalon

AUGUST 5, 2020

How effective are their promotional campaigns? Jump Ahead Most Important KPIs for the Retail Industry in 2020 Examples of Retail KPIs that Maximize Inventory ROI 1. Inventory Turnover Ratio 3. Promotions Uplift Retail KPIs that Answer Questions About Customer Behavior 8. Inventory Turnover Ratio.

Inventory Turnover 41

Inventory Turnover Promotions Merchant Services Markdowns 41

CJ Retail Solutions

AUGUST 26, 2024

In-store promotions and events can be evaluated using KPIs to determine their impact on sales and foot traffic, guiding future strategies. This allows them to obtain important insights into how customers interact with products and promotional displays. Decision-Making Based on Data.

Marketing 52

Marketing Visual Merchandising Inventory Turnover Store Layout 52

DMS Retail

JANUARY 29, 2024

To achieve this, thorough analysis of sales data, trends, and inventory levels is essential for effective inventory management. By optimizing stock levels and reducing overstock and stockouts, retailers can enhance inventory turnover and reduce carrying costs. This adaptability ensures retailers stay ahead of the curve.

Management 40

Management Inventory Turnover Promotions Inventory Management 40

V Count

JULY 24, 2024

Higher Sales Efficient queue management plays a crucial role in boosting sales by promoting impulse purchases and reducing cart abandonment. By analyzing customer traffic patterns, businesses can better plan their inventory levels, ensuring they have sufficient stock to meet demand while minimizing excess inventory.

Management 98

Management Supermarket Checkout Inventory Management 98

CJ Retail Solutions

AUGUST 8, 2024

Product merchandising is a critical component of retail operations, focusing on the strategic presentation and promotion of goods to stimulate customer interest and drive sales. Beyond its impact on sales, product merchandising plays a crucial role in inventory management.

Cross Merchandising 52

Cross Merchandising Promotions Inventory Turnover Bundled Pricing 52

365 Retail

JUNE 5, 2024

Advanced inventory management software integrates with point-of-sale systems, monitoring every sale and tracking stock levels. It even accounts for seasonal trends, promotions, and supplier lead times. Managers can visualize metrics like sales trends, inventory turnover, and customer lifetime value.

Payment Services 52

Payment Services Inventory Management Checkout Inventory Turnover 52

Shopper Motion

DECEMBER 16, 2020

They also contribute to the profitability of the company by fostering sales via marketing and in-store promotions and they manage everything related to product inventory, either they order new items or try to improve the speed of inventory turnover. Local Promotions. KPIs for products from a promotional flyer.

Management 52

Management Promotions Inventory Turnover Shopping 52

Retalon

FEBRUARY 15, 2022

Price elasticity of demand, meaning the effect that a set price will have on demand, is an important consideration when setting prices, running promotions, or markdowns. When Inventory is proactively allocated among locations to meet demand, customers are not repeatedly met with empty shelves pushing them to other retailers.

Markdowns 41

Markdowns Inventory Turnover Fulfillment Accounting 41

Retalon

FEBRUARY 24, 2022

There is one exception: sold but undelivered products are not counted as Beginning of Month Inventory. Other sales periods, such as promotional seasons, are also useful. It’s part of a three-step open to buy process: Step 1 – Know your inventory turnover. Turnover rates impact OTB.

Markdowns 41

Markdowns Inventory Turnover Accounting Planning 41

V Count

JUNE 26, 2024

The objective is to maximize the visibility and appeal of high-margin or promotional items by placing them in high-traffic areas within the store. It can also lead to more efficient inventory turnover, further enhancing the profitability and performance of the retailer.

Store Layout 52

Store Layout Payment Services Inventory Turnover Promotions 52

V Count

JANUARY 11, 2023

People counters also help you figure out if your customers are just there to buy gas, but with factual data at hand, you can now come up with new strategies and promotions to encourage them to visit your store. Depending on the popularity, you can ask for a second coffee maker or perhaps even offer alternatives.

Inventory Turnover 40

Inventory Turnover Promotions Customer Experience Planning 40

Retalon

AUGUST 14, 2023

Improving Inventory Turnover 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. This ensures you have just enough stock to meet sales requirements without excess inventory.

Inventory Management 41

Inventory Management Management Dead-Stock Inventory Turnover 41

Rangeme

DECEMBER 16, 2021

To offset rising costs: 59% of executives are increasing product prices or shipping costs for consumers 33% are using cost-based pricing to pass along higher costs to consumers 36% are taking a margin hit to keep prices constant 22% are reducing or eliminating planned promotions. 13 Unglesbee, Ben. Retail Dive. October 29, 2021. MarketWatch.

Shipping 52

Shipping Dead-Stock Beauty and Health Inventory Turnover 52