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

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. Target also is revising its sales forecasts, future promotion plans and cost expectations by category.

Planning 279

Planning Supply Chain Management Promotions Markdowns 279

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

APRIL 9, 2022

Your markdown SKUs are live, but how are they tracking? Now is the time to check how your markdown performance is tracking against your retail markdown strategy keeping inventory management top of mind. Full price vs markdown mix. Review performance of current markdown clearance stock. Markdown cover.

Markdowns 130

Markdowns ATS Inventory Management Promotions 130

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

Wiser

NOVEMBER 29, 2023

Understanding the difference between trade promotion and consumer promotion is crucial for any business seeking to maximize its market impact and sales potential. These two promotional strategies, while aiming to stimulate demand and increase sales, target distinct audiences and employ different methods. What is Trade Promotion?

Promotions 146

Promotions Consumer Wholesale Advertising 146

Retail Focus

JUNE 3, 2021

It’s not surprising, then, that shopper responsiveness to digital promotional offers has increased, with 55% saying they are extremely or very likely to respond to a smartphone or mobile app offer v. 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

NOVEMBER 27, 2024

The Black Friday Cyber Monday sales period has expanded to become ‘Black November’ this year, with many retailers and brands starting their promotions earlier than ever. However, many consumers only appear willing to buy if there’s a significant markdown involved, so where does that leave retailers?

Markdowns 241

Markdowns Promotions Advertising Department Stores 241

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 Fulfillment 246

Wiser

AUGUST 24, 2017

Or wondered how retailers decide if their promotion will be BOGO or 25 percent off? They are also a way to ensure markdowns and promotions are effective. Selling a limited quantity of items in your promotions creates a sense of urgency. Another promotion that works well is offering a free gift with purchase.

Markdowns 180

Markdowns Marketing Drop-Shipping Promotions 180

Retail TouchPoints

AUGUST 19, 2021

Ecommerce has been growing 10% to 15% every year and that was exacerbated during COVID-19,” said Natalie Kotlyar, National Managing Partner; Industry Groups, Retail & Consumer Products Industry National Leader, at BDO in an interview with Retail TouchPoints. That means communication with the consumer, not markdowns.

ATS 299

ATS Markdowns Consumer Social Commerce 299

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 263

Markdowns Technical Support Promotions Consumer 263

Retail TouchPoints

JANUARY 3, 2023

This was especially evident on Black Friday, when many merchants offered steep markdowns to compete. Web and API Scraping Web and API scraping are often used by competitors to undercut retailers’ pricing and promotions. Fake Account Creation Bots can create fake accounts at scale which are then used to abuse retail promotions.

Merchant Services 306

Merchant Services Payment Services Accounting Checkout 306

Inside Retail

SEPTEMBER 3, 2024

Inventory management Predictive analytics: This helps optimise your stock levels, preventing overstocking and stockouts. Targeted advertising: You can use data to target promotions effectively, enhancing campaign ROI. 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

FEBRUARY 15, 2023

Accenture’s AI.Retail platform — which helps retailers better utilize data and artificial intelligence to optimize common operations such as customer acquisition, pricing and promotions, assortment and supply chain — can now be deployed on Google Cloud.

Merchant Services 290

Merchant Services Markdowns Store Operations Planning 290

Retail TouchPoints

AUGUST 22, 2022

Decisions about markdowns, promotions and inventory allocation were limited and made in tried and tested ways. In one example, an apparel brand observed that its customer churn was increasing and attempted to slow the decline with aggressive win-back promotions. Lessons from the Digitization of the Trading Floor.

Markdowns 245

Markdowns Promotions Management Marketing 245

Retail TouchPoints

OCTOBER 22, 2020

Here are some of the issues facing retailers — and ways that they can harness AI-powered pricing and promotions to cope with them productively. Similarly, online shoppers respond to different types of promotional offers, and obviously different promotional vehicles used to reach shoppers when shopping online.

Promotions 130

Promotions Markdowns Returns Shopping 130

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

MARCH 14, 2023

Managing them correctly is just as important as any other part of the customer journey. These include not just costly shipping and processing fees but also the extra promotions or liquidations needed to move excess inventory. When it’s out of season, they have to do markdowns, so it starts a vicious cycle.

Returns 263

Returns Markdowns Fulfillment Consumer 263

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. In addition to store closures and layoffs, retailers have had to consolidate operations, renegotiate deals and scale back promotional activities.

Consumer 306

Consumer Markdowns Promotions Advertising 306

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

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.

Markdowns 147

Markdowns Promotions Consumer Planning 147

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

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

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).

Drop-Shipping 198

Drop-Shipping Merchant Services Fulfillment Shipping 198

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 81

Inventory Management Wholesale Management Markdowns 81

Retail Focus

DECEMBER 8, 2021

The UK’s cost of living squeeze is making Millennials and younger demographics more sensitive to pricing and promotions, the latest research from antuit.ai , the leader in SaaS Artificial Intelligence (AI) demand forecasting solutions, reveals.

Markdowns 147

Markdowns Promotions Consumer Fashion 147

365 Retail

JUNE 4, 2024

I ncreasing numbers of UK consumers are limiting their spending exclusively to goods on promotion to trim costs and make squeezed budgets go further, the latest research from Pricer, the leading in-store automation and communication solutions, reveals.

Promotions 64

Promotions Markdowns Supermarket Consumer 64

Wiser

MAY 20, 2020

It’s a complex decision that involves customer behavior, marketing, supply chain and inventory management, and other functional areas. Everyday low pricing is a pricing strategy in which brands and retailers promise consumers that their prices will be consistently low, as opposed to having sporadic discounts or promotions.

Markdowns 148

Markdowns Promotions Inventory Management Consumer 148

Retail TouchPoints

SEPTEMBER 8, 2023

Ecommerce merchant teams invest significant time in analyzing factors such as free shipping thresholds, promotions, pricing and markdowns. Chap Achen is VP Product Strategy and Operations at Nextuple and has spent his career managing omnichannel ecommerce and fulfillment operations at large and boutique brands.

Merchant Services 258

Merchant Services Shipping Fulfillment Markdowns 258

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

Wiser

APRIL 25, 2024

In retail operations, the interaction between category management and price optimization teams is key to staying competitive. However, the inherent differences in approach and objectives between category managers and pricing analysts can lead to internal challenges, underscoring the importance of finding a harmonious balance.

Management 78

Management Markdowns Marketing Promotions 78

Retail Smart Guys

OCTOBER 9, 2024

Consultants can address various challenges: They assist with employee management by refining hiring practices, developing staff skills, promoting talent, and managing underperformers effectively. Furthermore, they work on inventory efficiency—analyzing systems to minimize markdowns and maximize profits.

Markdowns 97

Markdowns Promotions Management Location 97

Inside Retail

AUGUST 26, 2024

To further accelerate performance, many of them have relied on discounts and promotions, and kept going deeper, wider and more frequently. 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.

Markdowns 147

Markdowns Promotions Marketing Consumer 147

365 Retail

SEPTEMBER 16, 2021

Clearly retailers cannot base their price and promotion strategies this year solely on the experience of prior seasons. 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. Cross-Item Effects at Your Fingertips.

Markdowns 98

Markdowns Promotions Accounting Planning 98

Wiser

APRIL 13, 2021

There are times when you want to switch up prices more often, such as a promotional period or holiday season. It’s viable for your own website because you have fewer restrictions from the marketplace and more digital real estate to advertise, promote, and explain your strategy. Turn to Markdowns and Promotions.

Markdowns 148

Markdowns Promotions Drop-Shipping Shipping 148

M19 Retail

OCTOBER 11, 2024

Why Your Supply Chain Management System Depends on the Right Retail Inventory Management Software In today’s complex retail environment, managing a supply chain management system is no small feat. The Pareto Principl e , or the 80/20 rule, often applies here: 80% of sales come from 20% of SKUs.

Supply Chain Management 52

Supply Chain Management Inventory Management Management Markdowns 52