As retail e-commerce sales worldwide are expected to grow by 56 percent over the next years, reaching about 8.1 trillion dollars by 2026, retailers cannot ignore the enormous potential of an online presence. But getting into each customer’s shoes to map their journey, understand their needs, and fulfill their demands can be quite challenging. Arm… Continue reading Unlock the power of analytics to win more online sales opportunities
Retail is one of the most data-driven industries, from sales data to inventory details – every data point offers an opportunity to make your retail business more efficient and successful. The right data at the right time can help you understand customer behavior, estimate demand requirements, build forecasts, and make informed decisions. Here’s how the… Continue reading Dive into your sales data and interpret the right story
Offering excessive discounts during the sales season can be quite tempting to clear ageing inventory, however, discounts not only slash profit margins significantly but, if done without the right strategy, can impact your brand image. Once customers get used to low price points, they can become reluctant to buy at full price and end up… Continue reading Are your Business Decisions Hurting your Bottomline? It’s Time to Rethink.
As an established brand/retailer with a healthy spread of brick-and-mortar stores, in-season planning involves optimal inventory distribution to all points of sales. In-season planning can be categorized into, new season allocation, at the launch of the season, and mid-season replenishments and replacements. Planning involves budget allocation, trend analysis, past sales analysis, etc, which gets half… Continue reading Optimize inventory distribution this holiday season with Increff MS Pro
The Economist, in 2017, referred to data as “new oil”, the one ingredient every business needs to drive the world ahead. Covid, classified as a “black swan” event, shook the entire social and economic status quo, and further emphasized the importance of intelligent data analysis and smart decision-making. Brands and retailers had to take a… Continue reading Recover from post-pandemic data & sales loss with smart merchandising
Creating a highly competitive retail supply chain depends on how well you’re able to control/reduce your costs. Incurring unnecessary costs can mean that your processes aren’t efficient enough, your funds are blocked in too many fixed assets, or your supply chain isn’t performing at an optimum level. These factors could pile up costs, impact margins,… Continue reading 5 sure shot techniques to reduce costs in the retail supply chain
You could be one of the most seasoned merchandisers and yet you could fall for some common supply chain mistakes. Often these result in inflated costs, poor workforce management, sub-optimal processes, delays in fulfillment, and lots of confusion and errors. It is necessary that these mistakes are brought under the scanner and fixed before they… Continue reading 7 Biggest supply chain mistakes & how to solve them
Itemized serialization pays rich dividends to your business by optimizing processes, making inventory 100% traceable, minimizing human errors, and increasing transparency throughout the supply chain. Here are 10 unrealized benefits of serialization for the brands: 1. Inventory accuracy and traceability Serialization detects and prevents duplicate scanning of items thus ensuring 100% accuracy. Since all the… Continue reading 10 Unrealized Benefits of Serialization
The fast-changing retail industry is increasingly adopting a customer-centric approach. Customers have a wider array of options and are no longer willing to buy whatever brands offer them on a platter. In the past, retailers used to purchase merchandise based on their gut instinct or mere hunches. But today, staying relevant in the market calls… Continue reading 5 Ways to Control Inventory in the World of Lean Retailing
Brands that have a well-established presence among their customers can benefit significantly by opting for the D2C route of marketing. In the US alone, D2C sales are expected to reach $175 billion by 2023. Even new and emerging brands find tremendous merit in D2C marketing as they wish to gain better control over their brand,… Continue reading How Technology is Propelling the Growth of D2C Brands
