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Integrate Pricing, Promotions and Markdowns to Drive Profitability

Retail TouchPoints

Lifecycle pricing , which integrates base pricing, promotions and markdowns into one holistic strategy, can help merchants optimize their approach — especially as they strive to localize, and even personalize, experiences for consumers across all channels. Many times, markdowns are heavily weather related, especially for fashion retailers.

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How Improving Markdowns Will Impact Your Most Important Supply Chain KPIs

Retail TouchPoints

So why should these teams expand their focus to consider markdown planning in addition to their already full slate of targets? Because better markdowns have the potential to significantly improve the traditional KPIs that supply chain teams are evaluated on.

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Genesco to Close 100+ Journeys Stores as it Focuses on Off-Mall Locations

Retail TouchPoints

The company is looking to pivot Journeys to an off-mall strategy, with 13 locations out of a planned 25 already open. This was attributed to increased markdowns at Journeys offsetting an otherwise normalized promotional environment, which led to improved margins at the other businesses. “We Genesco’s gross margin was 47.3% in Q1 2023.

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As the Holidays Approach, it’s Time to Rethink Retail Pricing Methodology…and AI Can Help

Retail TouchPoints

Add it all up and it’s clear that the timing duration, and location of holiday shopping is not like the old days. In this kind of shopping environment, how should retailers align their promotions and markdowns for the greatest impact? Ending the Tradition of Blanket Markdowns Enter this year’s holiday shopper.

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Family Dollar Seeks to Optimize Customer-Centric Assortments

Retail TouchPoints

The deployment is designed to reduce the risk of markdowns and stock shortages while also limiting the impact of underperforming products. Family Dollar has partnered with First Insight to refine its merchandise assortment strategy using the solution’s predictive analytics and actionable data.

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AI in Action: How Retailers are Transforming Demand Forecasting with New Tech

Retail TouchPoints

And for larger-scale retailers, that need for an accurate forecast gets complicated, and re-complicated, by the need to correctly place and price inventory in multiple locations in order to achieve maximum sell-through with minimum discounting.

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Charanga Deploys RFID Technology to Lay Groundwork for Omnichannel Services

Retail TouchPoints

Spanish children’s clothing retailer Charanga will deploy the Nedap iD Cloud platform at all owned stores, franchised stores and displays inside El Corte Inglés locations in Spain, Portugal and Italy. The technology also is expected to help reduce waste and lead to fewer markdowns.

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