Selling products below their intended cost, sometimes at a loss, to boost sales and managing a high volume of customers while competing with competitor brands, especially in fashion, isn’t easy. But figuring out how much to markdown and when to minimize losses is often harder. Not having a single average markdown percentage in fashion for… Continue reading Markdown Madness? No More! Here’s how Increff can help
Managing inventory is not just about numbers; it’s about finding the right balance between having enough products to meet demand and not ending up with too much stock that wastes resources. Unfortunately, many businesses make common mistakes that hurt their profits and harm the environment. Let’s explore these mistakes in detail and see how Increff… Continue reading 5 Costly Inventory Mistakes That Are Dragging Your Business Down (and How Increff Can Be Your Lifeline)
Imagine this: a customer walks into your store, excited to buy their favorite item. They’ve been looking forward to it all day. But when they get to the shelf, it’s empty. Disappointed, they leave without buying anything else. This is the dreaded stockout scenario—a retailer’s worst nightmare. But with Increff Merchandising Software, stockouts can become… Continue reading Say Goodbye to Stockouts: Here’s How Increff Ensures Inventory Availability
Imagine $1.77 trillion. It’s a staggering figure, roughly equivalent to the GDP of Canada. Surprisingly, this is the estimated annual cost of inventory distortion, which includes both excess stock and missed sales due to stockouts, afflicting businesses worldwide. This pervasive issue doesn’t just affect profitability but also significantly impacts sustainability, creating a dire need for… Continue reading The $1.77 Trillion Inventory Black Hole: How Your Business Can Escape (and Thrive) with Increff
Is Your Inventory Overflowing and Sales Stalling? There’s a Better Way. Are you one of the 67% of retailers facing a mountain of inventory and disappointing sales according to a National Retail Federation study? Fire-sale markdowns might seem like the only option, but there’s a smarter solution: Merchandise Financial Planning (MFP). MFP is your secret… Continue reading How Merchandise Financial Planning Saves the Day (and Your Bottom Line)
Amazon, the massive online retailer, rakes in significant profits in North America because numerous local stores struggle to accurately predict how much of a product people want to buy. So, when eager customers head to their nearby stores to purchase something they truly desire, they are often met with disappointment as the item is out… Continue reading Mastering Demand Forecasting: A Comprehensive 7-Step Roadmap to Maximize Sales
Have you ever considered the intricacies of managing a fashion brand across both retail and online realms? Juggling numerous stores across cities, gauging distinct identities, predicting demand, and maximizing sales require strategic finesse. Navigating markdowns, stock transfers, and style discontinuations is paramount. The complexity of nationwide operations, warehouses, and logistics renders manual Excel management overwhelming.… Continue reading Top 5 Merchandising Solutions: Global Leaders in Enabling Accurate and Seamless Inventory Optimization
In the ever-evolving landscape of online commerce, businesses face razor-thin profit margins, fierce competition, and the critical significance of each dollar. Navigating this challenging symphony requires adept conductors with its surging demands, intricate supply chains, and market volatility. However, amid these complexities, poor inventory management is a common obstacle that threatens businesses. The consequences of… Continue reading 5 Top Expert Tips to Unlock Inventory Efficiency Like a Pro
The peak season sales is a make-or-break time for every retailer, offering a significant opportunity to boost revenue and increase profits. In fact, over the past decade, the average annual retail sales growth was 3.6%, but since 2019, there has been an incredible 30% growth in retail sales. However, managing the surge in demand and… Continue reading How to Increase Retail Sales During Peak Season: 3 Ways a Retail Tech Partner Can Help
Keeping up with changes in customer behavior is vital for retailers seeking to thrive in a competitive market. A pivotal factor in achieving success lies in transforming your fashion merchandising approach to prioritize customer satisfaction. Did you know that an impressive 86% of consumers are willing to pay more for an enhanced shopping experience? Furthermore,… Continue reading How to transform your Fashion Merchandising Strategy for maximum Customer Satisfaction?
