Retail TouchPoints

AUGUST 13, 2024

Early use cases for AI in retail include inventory management, dynamic pricing, customer service chatbots, loss prevention and personalized marketing. Retailers can automate markdowns to minimize revenue loss and increase profitability, which can be especially important for seasonal retailers.

Markdowns 311

Markdowns Loss Prevention Customer Experience Inventory Management 311

Retail TouchPoints

DECEMBER 12, 2023

In this kind of shopping environment, how should retailers align their promotions and markdowns for the greatest impact? Keeping in mind as well the need to optimize their supply chain fulfillment to meet consumer delivery expectations while managing parcel carrier costs?

Markdowns 278

Markdowns Retailing Pricing Promotions Fulfillment 278

Retail TouchPoints

MARCH 17, 2025

One of the most promising is a challenge that has bedeviled merchandisers, marketers and inventory managers for decades, if not centuries demand forecasting. These mismatches also create the need for either markdowns or additional shipping costs to get the products to where they are more likely to be sold.

Markdowns 216

Markdowns Inventory Management Marketing Consumer 216

Wiser

MARCH 14, 2025

The Complex Role of a Category Manager Category Managers sit at the center of a high stakes balancing act. Managing category growth, supplier partnerships, and promotional execution across multiple retailers and sales channels requires constant coordination. Every product decision carries weight.

Management 78

Management Inventory Turnover Promotions Markdowns 78

Retail TouchPoints

JULY 18, 2023

As part of the new multiyear agreement — which builds upon a partnership that started in 2016 — Academy will use the Revionics Base Price and Markdown solutions to not only optimize its pricing strategy but better manage inventory levels throughout the product lifecycle.

Outdoor 235

Outdoor Markdowns Apparel Fulfillment 235

Inside Retail

APRIL 1, 2025

Though promotional cycles were a boon for sales, Diez-Simson said that managing the tension between cashflow and margin became her biggest challenge in 2024. Putting older products through markdowns might not necessarily be the trigger [either], as customers want a quality product.

Promotions 130

Promotions Finance Markdowns Drop-Shipping 130

Retail TouchPoints

AUGUST 17, 2022

Inventory markdowns weighed on Target in Q2 2022 as its net earnings dropped to $183 million , down almost 90% from its Q2 2021 performance. Reduced performance was expected as the retailer worked to right-size its inventory , including through markdowns, removing excess inventory and cancelling orders. billion for Q2 2023, down 6.8%

Markdowns 277

Markdowns Management ATS Marketing 277

Retail TouchPoints

NOVEMBER 7, 2023

The general Deals page features promotions and markdowns in a range of top holiday categories — including apparel, electronics, toys and beauty — from a wide variety of merchants, ranging from big-box stores and multi-brand retailers to DTC brands and local stores.

Markdowns 259

Markdowns Promotions Apparel Shopping 259

Inside Retail

JULY 22, 2021

Having a centralised fulfilment centre for stores replaces our historical push model, and will result in improved inventory management, reduced markdowns and maximised sell-through whilst also producing significant efficiencies in our online fulfilment operations.”.

Markdowns 246

Markdowns Department Stores Fulfillment Inventory Management 246

Retail TouchPoints

OCTOBER 3, 2023

The digital channel typically had one or more dedicated facilities, which ironically were often planned and managed like an individual additional brick-and-mortar location. This last, critical element (markdown avoidance) is the least fully adopted technique across the retail landscape today.

Fulfillment 286

Fulfillment Drop-Shipping Shipping Markdowns 286

Inside Retail

JUNE 1, 2021

“We want to be the first port of call for brand-conscious and value-conscious Gen Z and millennial consumers,” said Justin Seskin, one of TheDOM.com’s co-founders, along with Thrills director Howard Blend and It Works managing director Paul Downs. . Everyone might go 30 per cent off on their first markdown, but their reach is limited.

Consumer 246

Consumer Markdowns Planning Shopping 246

Retail Smart Guys

JANUARY 16, 2025

What is Inventory Management, and Why Does It Matter? Inventory management is the process of tracking and optimizing stock levels to meet customer demand while maximizing profitability. Reduce markdowns and boost profits. Simplify inventory management for multi-location stores. Dont let inventory challenges hold you back.

Inventory Management 98

Inventory Management Management Markdowns Fulfillment 98

Retail TouchPoints

JUNE 8, 2022

Target is taking multiple actions to right-size its inventory, including additional markdowns, removing excess inventory and cancelling orders, as it makes room for merchandise including groceries and back-to-school supplies.

Planning 279

Planning Supply Chain Management Promotions Markdowns 279

Retail Focus

JUNE 3, 2021

Fortunately, there is well-established, proven science-based technology that enables retailers to offer carefully crafted prices, promotions and markdowns in online as well as brick-and-mortar channels. Think of pricing in the context of the full lifecycle, from everyday price through promotions and markdowns/clearance.

Markdowns 200

Markdowns Promotions Shopping Planning 200

Wiser

AUGUST 24, 2017

They are also a way to ensure markdowns and promotions are effective. If your markdown and sale patterns become obvious to your consumer, they will wait for those markdowns and hold off on shopping until a promotion rolls around. Some psychological pricing strategies can have a bigger impact on shoppers than others.

Markdowns 180

Markdowns Marketing Drop-Shipping Promotions 180

Retail TouchPoints

SEPTEMBER 23, 2024

Optimize Markdowns Proactively Markdowns are a necessary part of retail, but they should be approached with a proactive strategy. Retailers need to identify slow-moving items early in the season and begin markdowns before they become a significant burden on inventory.

Promotions 147

Promotions Markdowns Planning Retailing Pricing 147

National Retail Solutions

AUGUST 17, 2022

What is Inventory Management? Inventory management is when a business owner controls the amount of merchandise in-store and online. There are several factors to remember while tracking inventory, such as keeping hot-selling items on hand, avoiding over-ordering, and determining when to put products on clearance or markdown.

Inventory Management 98

Inventory Management Management Markdowns 98

Retail TouchPoints

MARCH 14, 2023

Managing them correctly is just as important as any other part of the customer journey. When it’s out of season, they have to do markdowns, so it starts a vicious cycle. Someone bought that item a week ago, and now it’s $10 or $20 cheaper, so they return the full price item and buy a markdown item.

Returns 263

Returns Markdowns Fulfillment Consumer 263

Retail TouchPoints

SEPTEMBER 15, 2020

Savvy retailers are focusing more heavily on determining demand by geographic zones, using local data to inform prices, promotions and markdowns based on real-time consumer behavior. As a result, consumer behavior has become harder to predict across multiple locations, which makes zone pricing a must for retailers.

Markdowns 265

Markdowns Technical Support Promotions Consumer 265

365 Retail

JUNE 16, 2021

Online retail giant The Very Group will continue to enhance its pricing strategies with DemandTec Markdown Optimisation. The post The Very Group Renews DemandTec Markdown Optimisation appeared first on 365 RETAIL | Retail News.

Markdowns 59

Markdowns Accessories Planning Management 59

Retail TouchPoints

FEBRUARY 15, 2023

So it could be markdown optimization or customer analytics or supply chain or assortment and merchandising — there are a lot of use cases that retailers tend to need. and all of those have a data and analytics element, which is what we’re helping them figure out.”

Merchant Services 290

Merchant Services Markdowns Store Operations Planning 290

Retail Focus

FEBRUARY 27, 2024

Original research of over 1,000 UK shoppers by Retail Insight revealed that almost two-thirds (65%) agreed that supermarkets removing best-before dates will help reduce food waste, and 84% think retailers should still offer markdowns on fresh food that is past its best.

Markdowns 147

Markdowns Supermarket Grocer Store Operations 147

RETAIL MANAGEMENT SOFTWARE

MARCH 11, 2022

Do you know how to manage your inventory as effectively as possible? What are the inventory management best practices? If you can’t answer these questions, it’s time to reconsider how you manage your inventory. Inventory management best practices enable you to run your business most effectively and profitably.

Inventory Management 111

Inventory Management Management Inventory Turnover Drop-Shipping 111

Independent Retailer

DECEMBER 23, 2022

This is why inventory management is key, especially as retailers look to deal with unsold merchandise after the holidays. “Retailers must pay close attention to consumption patterns and build flexibility into their inventory management to address the changing needs of consumers.” Offer Promotions & Product Markdowns.

Inventory Management 98

Inventory Management Wholesale Management Markdowns 98

Retail TouchPoints

JANUARY 3, 2023

This was especially evident on Black Friday, when many merchants offered steep markdowns to compete. Even the largest retailers have a difficult time managing scalper bots because of the massive infrastructure scale required to host them. Fighting automated threats isn’t easy and often requires dedicated expertise to manage.

Merchant Services 306

Merchant Services Payment Services Accounting Checkout 306

Cisco Retail

MAY 20, 2022

The goal here will be to manage Deployments in a Kubernetes cluster using commands entered into a Webex room. In this case, I’ve set up a new Bot called Kubernetes Deployment Manager , but you can use your existing Bot if you like. We also added user feedback by posting messages back to the room where the event was raised.

Management 145

Management Returns Accounting Markdowns 145

Retail Smart Guys

SEPTEMBER 12, 2023

When it comes to inventory management, it’s easy to get lost in spreadsheets, logistics, and technology. People skills in inventory management play a pivotal role in ensuring the efficient flow of goods, maintaining team morale, and fostering strong customer relationships.

Inventory Management 105

Inventory Management Management Markdowns Customer Retention 105

Cisco Retail

OCTOBER 8, 2021

One way is using Jupyter Notebook to combine documentation authored in markdown together with live code. In this example, the items in the inventory are UCS X-Series compute nodes managed by IMM (Cisco Intersight Managed Mode). The markdown is rendered. . What is Jupyter Notebook? Conclusion. py file.

Markdowns 145

Markdowns Management Returns ATS 145

Retail TouchPoints

OCTOBER 15, 2021

There is no standardization across the industry and inconsistent sizing leads to markdowns and returns. The Solution: For retailers that want to minimize markdowns and improve margins on their brand portfolio, reducing overbuying is key. It’s an unsustainable and wasteful cycle because one size doesn’t fit all.” Challenge 3: Pricing.

Consumer 290

Consumer Merchant Services Markdowns Fulfillment 290

Retail TouchPoints

MARCH 3, 2023

Target Invests in Price and Speed to Attract Shoppers Target ended Q4 with inventory 3% lower than in 2021, a sign that the retailer has managed to overcome the excesses it struggled with through the first half of 2022. during Q4, but they were up 0.6% at its flagship banner and up 5.8% during Q4, but they were up 0.6%

Markdowns 311

Markdowns Operating Expenses Department Stores Planning 311

Inside Retail

SEPTEMBER 3, 2024

Inventory management Predictive analytics: This helps optimise your stock levels, preventing overstocking and stockouts. We all know that omnichannel is a challenge to manage against the product and customer objectives of your brand or business. This means you can get the most out of each product you are selling.

Loss Prevention 245

Loss Prevention Checkout Shrinkage Supply Chain Management 245

Retail TouchPoints

JUNE 26, 2023

Get ready, get excited, retailers and customers alike, the 2D barcode, a compact square label with splotches and spaces that encode up to 350X more data than a traditional UPC (4,000 characters) will have a significant impact on managing the business and delivering better customer experiences. Doesn’t that sound amazing?!

Merchant Services 279

Merchant Services Inventory Management Grocer Customer Experience 279

Retail TouchPoints

NOVEMBER 8, 2022

Returns are increasing labor costs due to inspection and restocking time and often cause markdowns, out-of-stock and logistics expenses to increase. They must approach inventory management, merchandise accuracy and return policies strategically. Retailers can also create a return policy that avoids waste.

Returns 306

Returns Markdowns Inventory Management Customer Experience 306

Retail TouchPoints

AUGUST 22, 2022

Decisions about markdowns, promotions and inventory allocation were limited and made in tried and tested ways. The management of trading floors has evolved to cope with this complexity. A critical enabler is the ability for managers to review the profitability of trades in real time and intervene as the situation requires.

Markdowns 245

Markdowns Promotions Management Marketing 245

Inside Retail

OCTOBER 25, 2022

Another is markdowns. Adjust your sourcing strategies to help reduce markdowns. You can ship items from the store or location with the most inventory, the oldest inventory, the lowest sell-through rate or the highest in-store markdowns. This strategy works for seasonal markdowns, too. One way is liquidators.

Markdowns 130

Markdowns Fulfillment Shipping Location 130

Inside Retail

MARCH 5, 2025

We dont want this to be a markdown experience. Global Datas managing director Neil Saunders acknowledged the poor track record of European retailers looking to break into the American market; however, he believes Printemps could be different. Its a place where you come for a cappuccino or a manicure, not necessarily to buy something.

Retail Marketing 130

Retail Marketing Department Stores Marketing Markdowns 130

Retail TouchPoints

FEBRUARY 2, 2022

Many of your retail peers found themselves with the dilemma of missing data — from the lack of customer data, transaction history for certain items or timeframes or sales broken out by sales type (regular/base, promotion and markdown). This is your starting point and your job is to build up and improve it.

Retailing Pricing 246

Retailing Pricing Markdowns Accounting Outdoor 246