Remove Markdowns Remove Promotions Remove Store Operations
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As the Holidays Approach, it’s Time to Rethink Retail Pricing Methodology…and AI Can Help

Retail TouchPoints

In addition to this timing variation, over 60% of shoppers plan to do their browsing online, yet 85% expect to buy at least one product in a store. In this kind of shopping environment, how should retailers align their promotions and markdowns for the greatest impact?

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Google, Accenture Deepen Relationship to Help Retailers Harness and Optimize Their Data

Retail TouchPoints

Google Cloud and Accenture are expanding their strategic partnership with a series of new initiatives to help retailers modernize their businesses and transform store operations. and all of those have a data and analytics element, which is what we’re helping them figure out.”

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

Retail TouchPoints

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.

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How Smaller Assortments, Lower Inventory Levels Can Maximize Post-COVID Success

Retail TouchPoints

By creating narrower product assortments and limiting inventory levels — especially for product shipments headed to brick-and-mortar stores —merchants would gain the ability to react more quickly to changing consumer trends, and even potentially reduce their need for markdowns.

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AOP Meaning in Modern Retail

Retalon

Its typically built through a collaborative effort between finance, merchandising, marketing, supply chain, and store operations. Promotional calendars: Planning key campaigns, promotions, and markdown events throughout the year to drive sales and clear seasonal inventory. trillion annually.

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15 Tips to Succeed as Brick-and-Mortar Retail Reopens

Wiser

4: Use Promotions and Markdowns to Move Seasonal Inventory. Instead, a lot of that has been left sitting in the back of stores or warehouses and needs to go somewhere once you open again. We recommend using promotions and markdowns to move that inventory quickly. 12: Promote Products That Make an Impact Right Now.

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What’s in-store for 2022? How the store will evolve in the age of digital acceleration

Retail Focus

Similarly, with real-time integration between the digital shelf and the retailer’s online offer, consistency of pricing, product spec and promotion can be consistently managed more dynamically to improve CX and drive conversions.

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