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. AI in Marketing: Creating Compelling, Engaging Content at Scale AI has revolutionized content marketing for retailers. That’s just the beginning, though.

Markdowns 306

Markdowns Loss Prevention Customer Experience Inventory Management 306

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

DECEMBER 6, 2024

in the quarter compared to 29% in Q3 2023, a decrease that was attributed to increases in markdowns and inventory damages. The net sales increase was driven by positive sales contributions from new stores and growth in same-store sales, with same-store sales increasing 1.3% over the same quarter in 2023.

Planning 279

Planning Customer Experience Markdowns Kiosk 279

Retail Focus

FEBRUARY 4, 2025

AI-based pricing systems allow retailers to respond quickly to fluctuations in the market and competition. This reduces overstocking and the need for massive markdowns. It also allows retailers to tailor pricing at an individual level. This improves productivity and reduces costs.

Inventory Management 162

Inventory Management Markdowns Checkout Customer Experience 162

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

JUNE 28, 2024

The campaign will include an expansion of paid media advertising and new influencer marketing initiatives with a prioritization on social media placements to reach Gen Z crafters specifically. chains , including competitor Michaels , in announcing permanent markdowns on more than 15,000 products. “‘And’

Markdowns 283

Markdowns Advertising Marketing ATS 283

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

AUGUST 15, 2017

In a perfect retail world, markdowns wouldn’t be necessary and every item would sell at full price within weeks of being in store. This is where markdowns come in handy, as the demand for a product diminishes, sales can encourage shoppers to purchase an item they wouldn’t have considered buying at full price. Plan Markdowns in Advance.

Markdowns 90

Markdowns Promotions Planning Shipping 90

Retail TouchPoints

NOVEMBER 29, 2022

Under the new market delivery model, large items are shipped directly from DCs to the customer, reducing the number of “touches” for each order and freeing up space at brick-and-mortar stores. Lowe’s kicked off the transition to the market delivery model in 2021 in its Florida and Ohio Valley regions. During the call on Nov.

Fulfillment 297

Fulfillment Markdowns Store Operations Customer Experience 297

Retail TouchPoints

APRIL 27, 2021

The solution also will help Sally Beauty create more effective promotions through enhanced targeting and develop profitable markdown plans. The beauty retailer will use the AI-powered solution to identify competitive price levels while still maximizing revenue and profit performance.

Markdowns 261

Markdowns Promotions Planning Target Market 261

Retail TouchPoints

OCTOBER 11, 2021

AI-Based Pricing Brings Surgical Focus to Help Retailers Successfully Navigate Unprecedented Markets. With the unprecedent pace of change in shopper, competitor and market behaviors, merely dusting off strategies from years past leaves retailers painfully exposed as they position against more agile, data-driven competitors.

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Markdowns Promotions Retailing Pricing Marketing 259

Retail TouchPoints

JULY 26, 2022

is requiring more markdown dollars,” said Doug McMillon, President and CEO of Walmart in a statement. In addition to a strong start to the back-to-school season, Walmart expects its grocery market share to rise as shoppers put an even greater emphasis on price.

Markdowns 315

Markdowns Apparel Marketing Consumer 315

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 272

Markdowns Management ATS Marketing 272

Retail Focus

JUNE 3, 2021

As other sectors, including travel and hospitality, experienced online commerce surges, the retail market shifted at a more leisurely pace. 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.

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Markdowns Promotions Shopping Planning 200

Retail TouchPoints

OCTOBER 15, 2021

Because of efforts to address this mismatch of product and real-world sizing, Coresight Research estimates that the value of the extended-size market for women will grow to $32.3 this year alone, representing approximately 21% of the total women’s apparel market. Test the market with new size options and be inclusive in marketing.

Consumer 284

Consumer Merchant Services Markdowns Fulfillment 284

Retail TouchPoints

NOVEMBER 25, 2020

“With COVID and recent market dynamics, tracking variable costs in real time becomes even more important. “Shopper behavior is also less predictable today, requiring more creative experimentation in merchandising and marketing. .

Markdowns 246

Markdowns Fulfillment Shipping Marketing Spend 246

Retail TouchPoints

SEPTEMBER 23, 2024

Navigating holiday retail pricing strategies during times of economic uncertainty requires a delicate balance between reacting to market conditions and maintaining profitability. Optimize Markdowns Proactively Markdowns are a necessary part of retail, but they should be approached with a proactive strategy.

Promotions 144

Promotions Markdowns Planning Retailing Pricing 144

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 256

Markdowns Promotions Apparel Shopping 256

Inside Retail

JUNE 1, 2021

From tactical promotions, to markdowns, to engineered lines – similar to what you might see in an outlet mall, for example – all the way through to clearance,” Seskin said. “If Everyone might go 30 per cent off on their first markdown, but their reach is limited. Our reach is going to be far wider,” he said. “If

Consumer 246

Consumer Markdowns Planning Shopping 246

Retail TouchPoints

MARCH 14, 2023

That means online retailers in particular should be on the lookout for ways to minimize the costs returns incur as well as the number of returned items that come in , since minimizing markdowns during a tough economic climate is one area where return minimization strategies can have an impact on the retailer’s bottom line. “

Returns 260

Returns Markdowns Fulfillment Consumer 260

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 274

Planning Supply Chain Management Promotions Markdowns 274

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 261

Markdowns Technical Support Promotions Consumer 261

Retail TouchPoints

SEPTEMBER 1, 2023

New Store Projects Help Drive Market Penetration, Sales Growth Despite the financial shortfall, Owen noted that Dollar General “made significant progress in the second quarter improving execution in our supply chain and our stores, as well as reducing our inventory growth rate and further strengthening our price position.” in Q2 2022.

Markdowns 261

Markdowns Apparel Planning Consumer 261

Retail TouchPoints

AUGUST 19, 2021

We have high demand and low supply, so there are fewer markdowns now,” Kotlyar added. “I Kotlyar agreed that the increasing complexity of the customer journey requires brands and retailers to be more thoughtful and multi-faceted with their marketing strategies. That means communication with the consumer, not markdowns.

ATS 293

ATS Markdowns Consumer Social Commerce 293

Retail TouchPoints

OCTOBER 3, 2023

The desire to ship even ground service from stores to deliver more orders within two business days is another customer experience-focused market driver. This last, critical element (markdown avoidance) is the least fully adopted technique across the retail landscape today.

Fulfillment 281

Fulfillment Drop-Shipping Shipping Markdowns 281

Retail TouchPoints

MAY 30, 2023

This was attributed to increased markdowns at Journeys offsetting an otherwise normalized promotional environment, which led to improved margins at the other businesses. Genesco’s gross margin was 47.3% in Q1 2024, compared to 48.3% in Q1 2023. This is really a newer initiative for us.

Location 240

Location Markdowns Accounting Promotions 240

Inside Retail

SEPTEMBER 3, 2024

It’s anticipated that the global AI retail market will soar past A$36 billion by 2028 and exceed A$70 billion by 2032, highlighting its growing importance and undeniable impact. Personalised recommendations: You can tailor marketing and product suggestions based on purchase history and browsing behaviour.

Loss Prevention 245

Loss Prevention Checkout Shrinkage Supply Chain Management 245

Retail TouchPoints

JANUARY 3, 2023

This was especially evident on Black Friday, when many merchants offered steep markdowns to compete. Neil Cohen is Chief Marketing Officer at Kasada. He is a versatile tech executive with 25 years of combined marketing, product management and engineering experience. Bad Bots are Siphoning Profits.

Merchant Services 301

Merchant Services Payment Services Accounting Checkout 301

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 284

Merchant Services Markdowns Store Operations Planning 284

Retail Adventures

DECEMBER 1, 2024

Have copies to hand out in-store, feature your lists on your website, in your marketing, social medias, ads and promotions. MASTER MARKDOWNS Plan now for your post-holiday markdowns. TOP 10 LISTS OF HOLIDAY GIFTS Create a Top 10 List of Holiday Gifts by age, category, and more.

Markdowns 52

Markdowns Cross Merchandising Returns Checkout 52

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.

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Markdowns Fulfillment Shipping Location 130

Retail TouchPoints

SEPTEMBER 29, 2022

To help address this, some retailers have been using advanced artificial intelligence (AI) to improve forecasting capabilities and optimize markdown processes to reduce product waste. One example is IKEA, which through the use of AI for smarter demand forecasting can now predict how much the business will sell in the future with 98% accuracy.

Fast Fashion 362

Fast Fashion Fashion Consumer Markdowns 362

Retail TouchPoints

AUGUST 22, 2022

Decisions about markdowns, promotions and inventory allocation were limited and made in tried and tested ways. Growth is now driven by the more complex dynamics of customer acquisition and retention, and digital marketing has introduced a new set of variable costs. Every Retailer Should be Inspired by the Trading Floor.

Markdowns 245

Markdowns Promotions Management Marketing 245

Inside Retail

AUGUST 17, 2021

Retail expert and QUT professor of marketing Gary Mortimer said it’s a good result for Coles considering that it was cycling the effects of panic buying in FY20, but he noted that supermarket sales are likely to remain subdued. Coles’ supermarkets, liquor and express business units reported strong sales, which were up 3.1

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Net Profit Supermarket Markdowns Checkout 246

Retail TouchPoints

DECEMBER 22, 2022

Now, these smart-to-market brands are taking this time of fluctuating costs and economic uncertainty to evaluate their pricing strategies. With margins being squeezed from rising inflation and inventory challenges, brands need to better align pricing with the current market conditions and consumer demand.

Retailing Pricing 274

Retailing Pricing Consumer Markdowns Marketing 274

Retail TouchPoints

MARCH 3, 2023

Now that supply chains have stabilized, Target is focusing its investments on areas that will help it compete in an increasingly tight market. We were competitive but measured in our promotions, took strategic markdowns and intentionally did not chase unprofitable sales.

Markdowns 306

Markdowns Operating Expenses Department Stores Planning 306

Retail TouchPoints

OCTOBER 22, 2020

Fortunately, today’s technology is scalable and can generate price, promotion and markdown recommendations at the store and item level, for both online and in-store online channels, at speeds unimaginable in historical human-centric, manual processes. CPG companies are marketing aggressively direct to consumers.

Promotions 270

Promotions Markdowns Returns Shopping 270