Inside Retail

JUNE 1, 2021

TheDOM.com (DOM stands for Digital Off-Price Mall) will offer discounted designer fashion, streetwear and activewear from more than 90 leading Australian and international brands when it goes live in the second half of June, and there are plans to expand into additional categories, such as homewares, electronics and travel, in the future. “We

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Consumer Markdowns Planning Shopping 246

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

Inside Retail

FEBRUARY 9, 2022

An increase in volatility in any one of these variables would be troublesome for a retailer, but when all six are in play it makes for a perfect planning storm. The planners in turn use data and adopt planning methodologies of varying complexity to move stock at optimum price and margin. .

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Planning Markdowns Sporting Goods Shipping 130

Retail TouchPoints

OCTOBER 3, 2023

When it came to inventory planning and optimization, stores were planned, allocated and/or replenished, and transacted with their customers entirely separately from the digital channel. This last, critical element (markdown avoidance) is the least fully adopted technique across the retail landscape today.

Fulfillment 227

Fulfillment Drop-Shipping Shipping Markdowns 227

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 169

Outdoor Markdowns Apparel Fulfillment 169

Retail TouchPoints

SEPTEMBER 23, 2024

Optimize Seasonal Promotion Plans Seasonal promotions are a staple in retail, but not all promotions are created equal. This strategic approach to promotion planning can help retailers avoid unnecessary discounting while still driving sales during peak periods.

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Promotions Markdowns Planning Retailing Pricing 144

Retail TouchPoints

OCTOBER 15, 2021

More and more, that means rethinking product development and expanding their sizing and assortment planning to represent a wider range of sizes and body shapes. But it’s still true that only a small fraction of the fashion retail market has put tactical plans into place to support this significant consumer base. billion in the U.S.

Consumer 283

Consumer Merchant Services Markdowns Fulfillment 283

Inside Retail

MARCH 15, 2022

With customer demands coming in hotter and the stakes higher than ever, assortment planning is the key to profit growth. Here, we help you avoid profit margin mayhem with a considered, data-driven assortment plan. What is assortment planning? This is all managed by the store grading. Why is assortment planning important?

Planning 130

Planning Markdowns Store Layout Location 130

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. Retailers can then run “what if” simulations, calibrate demand forecasting, improve inventory planning, formulate strategies for supply chain segmentation and more.

Merchant Services 257

Merchant Services Markdowns Store Operations Planning 257

Inside Retail

JULY 6, 2022

Supply chain disruption may have become a singularly hot topic in retail circles these past years, but a focus on improving supply chain planning and forecasting is far more than just a passing trend. The systems are now being employed to manage volatility in demand and material shortages throughout the global supply chain.”.

Planning 130

Planning Supply Chain Management Markdowns Management 130

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 262

Markdowns Operating Expenses Department Stores Planning 262

Retail TouchPoints

AUGUST 19, 2021

A recent Shopkick survey proposes that these behaviors are likely to continue through the holiday season: 22% of consumers plan to shop for the holiday well ahead of schedule and 25% even plan to finish their shopping by Thanksgiving, which historically has been the “official kick off” of the holiday shopping season.

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ATS Markdowns Consumer Social Commerce 293

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 57

Markdowns Accessories Planning Management 57

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.

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Merchant Services Payment Services Accounting Checkout 281

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.

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Inventory Management Wholesale Management Markdowns 93

Inside Retail

APRIL 17, 2023

You’ll probably have to adjust margins to implement this model effectively, and it’s likely that the ‘better’ offer will end up being the largest seller, so plan your orders accordingly. Tread carefully because markdowns will bite hard if you misjudge stock weights. And you’ll need a pre-planned mechanism to achieve that.

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Department Stores Markdowns Boutique Supermarket 246

Wiser

OCTOBER 12, 2021

Promotions influence shopper behavior , and consumers are conditioned to search for the best deals and prioritize brands and retailers who markdown products more often than the competition. Examples of TPRs include the standard dollars-off markdown, limited-time coupons, contests, rebates, and more. Can You Execute at the Store Level?

Markdowns 147

Markdowns Promotions Consumer Planning 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 92

Inventory Management Management Inventory Turnover Drop-Shipping 92

Retail TouchPoints

FEBRUARY 2, 2022

Begin with what you have and build a plan to fill in the gaps. 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).

Retailing Pricing 216

Retailing Pricing Markdowns Accounting Outdoor 216

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. How Retail Smart Guys Can Help With expert open-to-buy planning, Retail Smart Guys helps you: Stock the right products at the right time.

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Inventory Management Management Markdowns Fulfillment 52

Inside Retail

JANUARY 31, 2022

There are also other supply chain benefits for businesses including improved inventory management, recall readiness, sustainability, ethical sourcing and product authentication. At Woolworths, we plan to build on the potential of these barcodes to offer customers valuable information on provenance, quality and sustainability.

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Markdowns Point of Sale Inventory Management Supermarket 130

Retail TouchPoints

AUGUST 19, 2024

Just six years after the disastrous Cambridge Analytica scandal, the tech giant has managed to rehabilitate its image by refining its algorithm to avoid relying on sensitive personal information. Fabrizio Fantini, PhD is VP of Product Strategy at ToolsGroup , a supply chain planning and optimization firm.

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Consumer Markdowns Promotions Advertising 284

Retail TouchPoints

JULY 31, 2023

of retail sales, has multiple causes, including inaccurate demand planning, lack of inventory visibility and inadequate staff training. This has mostly been worked through and demonstrates that retailers are becoming more effective in managing their inventory levels and avoiding excessive stockpiling in 2023.”

Markdowns 215

Markdowns Shipping Fulfillment Consumer 215

Retail TouchPoints

FEBRUARY 12, 2021

RFID is also being extended for item-level identification as part of future-forward innovation plans, such as the adoption of blockchain for increased transparency. The lack of digitization in the supply chain coupled with unpredictable demand makes inventory management chaotic at best. RFID captures all inventory in-store and online.

Fulfillment 226

Fulfillment Markdowns Inventory Management Customer Experience 226

Inside Retail

JANUARY 30, 2024

These technologies are helping retailers achieve efficiencies in operational functions including staff deployment and management, customer service, shrinkage reduction and lifecycle pricing. And that’s where your Workforce Management systems come into play,” says Bretherton. They also need clarity around what they need to do.

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Loss Prevention Shrinkage Inventory Management Markdowns 147

Retalon

APRIL 14, 2021

What is a retail markdown strategy? A retail markdown strategy is a plan that describes when and how certain products should go on markdown. Having a markdown strategy is important because, all too often, markdowns are a kneejerk reaction to end-of-life inventories. ” What are markdowns in retail?

Markdowns 41

Markdowns Dead-Stock Promotions Planning 41

Inside Retail

AUGUST 26, 2024

The company plans to lay off approximately 4000 employees, which represents 10 per cent of Sephora China’s total workforce. These significant markdowns, while attractive to consumers in the short term, have potentially far-reaching implications for brand perception and long-term profitability in the Chinese market.

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Markdowns Promotions Marketing Consumer 147

Inside Retail

AUGUST 25, 2022

Suppliers were going broke left, right and centre, so it was all about the efficient management of inventory. But the biggest risk is buying and the efficient management of our working capital. Of course, you also have to manage costs, but that’s always important. We also had a forensic focus on our inventory stock turn.

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Drop-Shipping Markdowns Management Shipping 130

Retail Smart Guys

DECEMBER 11, 2022

Facts about Inventory Management. The retail industry is constantly changing, and inventory management gives a better understanding of this inconsistent landscape. Most importantly, as a public company, documenting your inventory and management processes fulfills the requirement of concerned government agencies.

Inventory Management 52

Inventory Management Management Markdowns Fulfillment 52

Retail Gazette

JANUARY 8, 2024

The retailer bolstered its online offer last month by adding 10 new third-party fashion brands to its website including Quiz, Yumi and Vanilla with more planned for later this year. It comes as Matalan saw its second quarter EBITDA skyrocket 30% to £47.9m, which it attributed to a tight control of markdowns, effective cost management and a 0.8%

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Markdowns Fashion Planning Management 111

Retail TouchPoints

NOVEMBER 3, 2020

Retailers, particularly those in the apparel, footwear and soft goods verticals, have an opportunity to turn the lemons from COVID-19 into lemonade, according to Keith Jelinek and Richard Maicki, Managing Directors in the Performance Improvement Practice of Berkeley Research Group (BRG).

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Drop-Shipping Merchant Services Fulfillment Shipping 177

365 Retail

SEPTEMBER 16, 2021

The result can be costly post-season markdown events that leave retailers stuck with short-life seasonal items that necessitate steep marks or even complete write-offs. Stocking up in anticipation of strong demand is a great move – unless you’ve priced wrong and fail to entice shoppers with the right prices and offers to drive units.

Markdowns 98

Markdowns Promotions Accounting Planning 98

Retail Smart Guys

SEPTEMBER 11, 2024

Effective inventory planning is crucial for reducing markdowns and enhancing profitability. With Retail Smart Guys, you can achieve optimal stock levels and operational efficiency through expert inventory analysis and monthly open-to-buy plans. Why Inventory Planning? Ready to streamline your retail operations?

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Planning Markdowns Management ATS 40

Wiser

JULY 27, 2021

You’ve got marketing and sales, product, customer support, category management , and many other roles that all tie into brand management. Are the plans that you made in step one making their way to the shelf? Retailers are more aggressive with sales and markdowns. One such role is the brand guardian.

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Markdowns Marketing Management Advertising 158

Retalon

APRIL 25, 2017

Getting your product pricing right is absolutely critical to customer cross-channel experience, but the promise of unified price, promotion and markdown optimization is hard to achieve. The post Guide for Unified Price, Promotion and Markdown Optimization Applications appeared first on Retalon. In this report: Market Definition.

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Markdowns Promotions Inventory Management Planning 32

Wiser

APRIL 13, 2021

Turn to Markdowns and Promotions. Furthermore, your website pricing approach should include markdowns and promotions. Plan for promotions to run at these times. You can also get aggressive with markdowns if you need to move stale inventory or just use a good ol’ sale as a way to increase shopper excitement.

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Markdowns Promotions Drop-Shipping Advertising 148

365 Retail

AUGUST 14, 2024

As a shop owner, one of the most critical aspects of your business is managing your stock effectively. Stock management can be the difference between a thriving business and one that struggles to meet customer demands. An inventory management system helps you keep track of stock levels, sales, and orders in real time.

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Management Inventory Management Shopping Markdowns 52