Inventory Management
We've all heard the retail cliche, "we need to do it differently." Yet year after year, organizations plan to do the exact same thing as before. Slight hyperbole, I know, but using last year (LY) actuals as your baseline for creating this year (TY) plans is doing just that. Most organizations are creating financial plans…
The battle between online retailers and traditional brick-and-mortar stores is entering a new and exciting phase. Less than a decade ago, experts predicted the demise of the big-box store because e-commerce enabled people to shop for larger inventories from the comfort of their homes and get items delivered in a relatively short time. These experts…
Luxury retailer Neiman Marcus — stung by its first holiday sales decline since the Great Recession — is spreading the pain. Drowning in designer duds and accessories that it didn’t sell during the crucial shopping season, the department store chain, which also owns Bergdorf Goodman, has asked its vendors to take back merchandise or risk not…
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Now that the holidays are over, it’s time to start looking at your shelves — made bare by wave upon wave of aggressive holiday shoppers — and begin executing your plan for the new year. 2016 could be the year that you adopt a comprehensive solution to keep your inventory appropriately stocked with the right…
With 250 stores and robust e-commerce and mobile sites, The Limited is challenged to identify and truly get to know its 3 million customers. Not surprisingly, gaining that in-depth knowledge of its customers is a key priority for the women's apparel retailer. In a session yesterday at the National Retail Federation Big Show in New…
You’ve survived the furor that was Black Friday, Cyber Monday and Christmas. Once you and your staff have leapt over that hurdle, there are January sales to contend with. Many things can go wrong for retailers during this period, most of which pertain to the tracking and management of inventory. The four tips below can…
For Pawstruck.com, on online retailer of natural dog treats and chews, selling via third-party marketplaces, most notably Amazon.com, is critical to its business. During the holidays, when Pawstruck's sales ramp up on both its own site and on Amazon, ensuring that its products are well stocked is a top priority. In episode 15 of Total…
As foot traffic at shopping malls and retail outlets begins to trend upward during the holiday season, making sure inventory levels are accurate for the most popular clothing and accessory items is one of the best ways retailers can maximize profits. Sparse shelves mean unhappy customers. Nobody likes it when they find that perfect piece…
When Macy’s, a store closely associated with Christmas, says there's trouble brewing ahead of the holidays, it's enough to send the world of shopping into a tailspin. The retailer of “Miracle on 34th Street” warned Wednesday that its stores were awash with merchandise after a sluggish fall season and that slow business would force it to…