COVID-19 Survey: Consumer Trends and Their Impact on Retail Supply Chains
As the world adjusts to a new set of norms in response to the COVID-19 crisis, the phrase “business as usual” continues to take on new meaning for the economy, organizations, consumers, and the supply chains that support their daily demands.
What Retailers Need to Consider to Come Out Ahead from Times of Uncertainty
During times of distress, nothing brings comfort like returning to basics and simplicity. As the impacts of the COVID-19 continue to evolve, consumers are faced with unprecedented disruptions to these basics while retailers are scrambling to understand impacts on their supply chain. The one constant, though, in all the chaos: retailers remain focused on servicing customers and keeping their employees working.
How COVID-19 Will Impact Softline Retailers
Softline retailers have been battling store closures and traffic declines in malls for several years. They have made moves to shift toward experiential retailers. They have deployed omni-channel capabilities like buy online pickup in store (BOPIS) and buy online return in store (BORIS) to drive traffic and deliver a seamless experience for customers. Ultimately, softline retailers were just starting to see the light at the end of the tunnel… until COVID-19 coronavirus arrived.
Improving Livelihood during Crisis with Retail Forecasts
As with hand washing, what might be deemed standard needs to be reevaluated for quality in your forecasts. Even if you are not consistently managing your exceptions and tuning your forecasts right now, these critical set of steps will ensure the cleanliness and usefulness of your demand forecasts for the next week, month and year ahead.
Leveraging AI to Minimize Markdowns [Video]
Artificial intelligence (AI) is changing the face of the markdown process today. By gathering real-time demand data — and combining it with data on current inventory levels and margin targets…
4 Questions with IKEA Food’s Digital Transformation Leader, Lars Gunnarsson
NRF 2020 is right around the corner, and we are thrilled to highlight our customer IKEA Food in their digital transformation journey in our booth, 4237. We sat down with…
2020 Vision: Three Keys to Retail Success in the New Year
As NRF approaches, retailers need to recognize three key facts about the retail environment that will determine their success or failure in 2020. It’s appropriate that NRF, Retail’s Big Show,…
Getting Proactive with Markdowns [Video]
Predicting demand, and creating markdown strategies, for items with short life cycles — such as winter apparel — have traditionally depended on historic sales data and regression analysis. Today, clustering…