Inventory
Weโve all been there โ going online to see if a specific piece of merchandise is currently available at a particular retail store, before taking the time to drive to said store or calling the store directly. If the online site shows that a product isn't currently available at that store (or the store locationโฆ
Retailers that manage their inventory using spreadsheets or other antiquated systems are costing themselves a lot of time, which is ultimately money lost. Not having systems in place that automate inventory management is costing retailers money. From the redundancies and productivity losses incurred from paying employees to perform manual tasks that could be automated, toโฆ
Out-of-stock inventory continues to be a huge problem for retailers and suppliers alike. Thereโs nothing more frustrating for consumers than an empty shelf, and even just one instance of an out-of-stock item can have lasting consequences in terms of customer loyalty and lifetime value. Consider some recent findings from the Trading Partner Alliance consisting ofโฆ
Creating a retail assortment is like telling a story. "Every character, location and event in a story needs to be introduced and explained to an audience. Every relevant detail has to be explained, and that explanation is the element of a story which enchants a reader more than any other. It's the essence of storytelling." Theโฆ
When retailers talk about meeting the needs of today's consumers, speed is frequently cited as a differentiating factor. From speed to market with new inventory to quick checkout to expedited delivery, it seems all retailers want to do everything fast. That's why it's a little surprising to hear John Hazen, senior vice president, direct toโฆ
Target offered a sneak peek of its upcoming Marimekko swimwear and home dรฉcor line, which features the iconic Finnish brandโs untouched, archival prints. And like last yearโs wildly successful Lilly Pulitzer launch and the website-crashing Missoni collection before it, the 200-plus item Marimekko for Target collection might also sell out in a New York minute andโฆ
Luxury retailer Neiman Marcus โ stung by its first holiday sales decline since the Great Recession โ is spreading the pain. Drowning in designer duds and accessories that it didnโt 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 notโฆ
Consumer expectations have never been higher. They want simple shopping experiences online, on their mobile devices, and in person โ whatever is most convenient at any point in time. Most of all, they want to be able to purchase the exact item theyโre looking for, and they want it delivered fast. For the last decade,โฆ
Costco willfully infringed Tiffany & Co's trademarks by selling counterfeit diamond engagement rings bearing the luxury retailer's name, and now must face a jury trial to assess damages, a U.S. judge ruled on Tuesday. U.S. District Judge Laura Taylor Swain in Manhattan rejected claims by Costco that Tiffany's trademarks were invalid because they sought to preventโฆ
One of the biggest problems Wal-Mart identified in its latest profit warning was what it calls โshrinkage.โ Greg Foran, president and CEO for Wal-Mart U.S. said on the earnings call that โaccelerating pressures in shrinkโ were one of three major factors that contributed to the companyโs underperformance. The others were an overall decline in grossโฆ