With 59% of the world having access to the internet, online shopping is often the more convenient option and it's expected that by 2040 more than 95% of all purchases will be conducted via e-commerce....
This article will help you understand the differences between demand planning and forecasting and explore their respective approaches and benefits....
Retailers are investing in the latest analytics technology such as machine learning in supply chain to help manage an increasingly costly, complicated, and inefficient system....
Consumer demand is shifting in 2023, impacted by a myriad of forces (including trends, technology, the economy, and even politics)....
Leading retailers are experiencing and engaging with an influx of AI in the retail market for some time now as it influences consumer shopping experiences and shapes retail operations....
When deciding on a shipping method for the distribution of orders, retailers must weigh the pros and cons of a drop-ship vs. a direct-ship model. With 42% of shoppers expecting a 2-day shipping opt...
A recent survey by Gartner, indicated that less than half (43%) of business leaders achieve their cost-reduction goals because of unrealistic targets. With labor costs, supply chain costs, and infla...
When the economy is in a downturn, retailing opportunities may not be obvious, but they are there. By adopting a different vantage point and digging a little deeper into areas of your business that ma...
Yes, the holiday shopping season is short–and apparently getting shorter. The average holiday shopping duration among consumers in the US has gone from an average of 7.1 weeks in 2018 to an ant...
The pressure is on. Only two minutes left in the last quarter of the championship basketball game, and your team is down by three points to take the win. ...
In challenging economic times, retailers who cut back on investing in the business for fear of going bust could end up doing themselves a disservice both during the recession and afterward. ...
Some retailers may think they have very little control in a recession, that they are left to be tossed about like a ship on the waves of inflation, reduced consumer spending, and excess inventory–bu...
Omnichannel analytics has never been more important than it is today. Not only are customer expectations greater than ever, but sky-high inflation and economic uncertainty means that consumers have le...
Effective inventory allocation has never been more important than it is today. With recent supply chain shocks, unpredictable consumer demand swings, and economic uncertainties looming, retailers need...
The mounting pressure of volatile supply chains, finicky consumer demand, and a bevy of new competitors make e-commerce demand forecasting more important for retailers than ever before....
Are your customer relationships healthy? Savvy retailers know that nurturing customers as individuals is key to engaging, keeping, and increasing them. ...
You might have noticed a shift away from demand forecasting models in Excel. Perhaps you’ve heard about top retailers adopting AI-based models....
It’s an exciting time in retail, especially with the rapid rise of e-commerce sales. It’s estimated that global online retail sales will reach $6.17 trillion by 2023....
It’s nearly impossible to predict with 100% certainty the amount of stock that’ll be needed for a particular sales period. This is a difficult problem to solve because demand forecasting that does...
Whether losing sales to out-of-stocks, or facing overstocking costs and markdowns, inefficient stock replenishment has a huge impact on a retailer’s GMROI....
Inventory makes or breaks retailers. Buying too much ties up cash in unsold stock and keeps you from ordering product your stores need. Buying too little reduces sales — and the cash you need for mo...
Retailers who rely on approximated demand disappoint customers, bleed profits, and lose market share to more tuned-in competitors. Tackling the challenges in demand forecasting, however, is not easy....
Worldwide, retailers are losing $1.75 Trillion annually as a result of bad inventory. In fact, managing inventory becomes exponentially more complicated as a retailer grows; and often becomes an overw...
Setting an optimal product price can be a challenging task in today’s dynamic and data-driven retail environment. In addition, missing the mark when setting prices can have a drastic effect on sales...
What makes it unique is that even with all of these negative connotations, there have been cases where retail businesses have strategically used product cannibalization to their benefit....
Unfortunately, this notion of simplicity makes it easy for retailers to overlook the underlying importance of order fulfillment and the significant impacts and benefits it can provide to their respect...
Retailers are quickly learning that in order to be successful and profitable throughout these changes, they require the capabilities of cutting-edge retail technology (and the necessary IT to support ...
If you’re paying close attention to the industry, you’ll realize that sustainability in supply chains is not just advisable, it is the key to survival (and profitability) for today’s retailers a...
The retail industry has witnessed a number of trends come and go over the last few years. Of these trends, none may be quite as important to the success of today’s retailers as non-store retailing ...
Instead of only shipping to customers’ homes, retailers let online customers shop from their local and online store’s inventory and pick up their orders from their closest brick-and-mortar locatio...
Retalon, an award-winning AI & Predictive Analytics software provider announced a new approach to the training of Neural Nets, named Progressive Learning....
In the past, retailers with the largest size and quantity of physical locations dominated the retail landscape. This resulted in retail brands competing for real estate space and large quantities of b...
The volatile nature of seasonal inventory leaves traditional methods of forecasting ineffective, and in fact, harmful. Without an effective method to predict seasonal demand retailers will always run ...
With the help of dashboards, retail employees can make faster, better decisions that align with the retailer’s Key Performance Indicators (KPIs) to streamline business processes....
Although e-commerce gets all of the attention, the past two decades of technological change have transformed every aspect of the retail business — from planning, inventory, pricing, and promotions ...
Product clustering is an effective way to think about assortment. This approach offers retailers a smart way to scale operations and can be incredibly cost-efficient when used correctly. ...
Although the trend toward omnichannel fulfillment is not new, the pandemic changed many retailers’ business models almost overnight, and these changes are not going away....
Since most markdowns are not planned for in advance (or at least accounted for in the pre-season planning stages), they frequently drain profits considerably more than they have to....
Your assortment strategy is your identity. It needs to be relevant to the current (and upcoming trends), as well as sensitive to the unique geo-demographics of your channels and locations. And it need...
The term “SaaS” is often poorly defined and, as a result, used too generally. Throughout my time answering this question, I have heard several totally different interpretations of what people real...
Moss Bros, a UK-based men’s suit and formal wear retail founded in 1851, leveraged Retalon’s advanced analytics to clean their data, improve forecast accuracy, and make better decisions in merchan...
Introducing new products creates an exciting opportunity to attract new customers and reinforce your presence in the market. At the same time, defining your new product pricing strategy is exciting fo...
Sure, on the surface it may all seem like retail to the uninitiated, however, anyone who’s actually worked in medium to large-sized retail organizations will tell you they are each a world of their ...
Retail assortment can vary significantly between retailers – even when they are within the same vertical making detailed and accurate assortment plans a vital element for retail success....
With seasonal product life cycles becoming ever shorter, retailers need more strategic and granular ways to plan their seasonal assortments so they can maximize revenue while minimizing markdowns. ...
In reality, replenishment planning is a fairly complicated process that has to account for many variables, including logistics routes, time lines, availability, and cost. After all, what good is reple...
An inaccurate forecast, unpredictable changes to consumer preferences, shifts in the competitive landscape, or major economic events can all completely throw your planning and purchasing off-track, le...
While inexperienced retailers may celebrate completely selling out of stock — retailing professionals know that out-of-stocks can be disastrous for a retail organization, both in the short and long ...
You cannot optimize prices without managing them, however. Identifying the optimal price for each product is not enough — because you also need the process and infrastructure to apply those changes ...
In today’s retail environment where retailers are dealing with millions of SKUs and complex assortments, optimizing inventory management requires a more nuanced, data-driven approach....
Today’s retailers are facing a bevy of new challenges, including declining sales, fierce competition from online-only stores, and changing consumer preferences. Yet, despite these challenges, some t...
Demand forecasting has become vital to the survival (and growth) of many retailers in the last few years. That’s because top-performing retailers simply cannot rely on inaccurate, decades-old approa...
In today’s landscape, when a new fashion retail trend latches on, companies need to have the ability to make the right decisions quickly. Retailers have found that machine learning and predictive an...
After all, retailers invest in merchandise hoping to sell it at a profit. That’s the crux of the entire retail business model. As such, the GMROI formula is used to evaluate how successful retailers...
Without historical data to draw upon, how do you predict the best way to allocate new products between stores, set the most profitable pricing, plan for future promotional demand, and balance inventor...
Changes in technology and consumer behaviour have made some executives question if they’re focusing on the right retail industry performance metrics to grow their company in 2022 and beyond....
Despite the fact that forecasting is the backbone of most retail organizations, there is still much confusion about the distinction between a sales forecast vs. demand forecast (as well as their respe...
Price planning is one of the most difficult (and often misunderstood) elements of retailing strategy. A relatively small change in price can have an enormous impact on product demand, and ultimately, ...
What is high-low pricing, when should you use it, and when should you not? Read about the pros and cons of this pricing strategy....
New strategic partnership combines Retalon's award-winning AI with enVista's industry-leading order management solutions....
The future is here! Learn about how VR can help create unique and memorable experiences for your customers....
The debate between physical stores vs. e-commerce. Customer experience is the new competitive advantage and Retail AI can help....
Hard Rock International Retail Shops Improve Forecasting, Planning, and Replenishment with Retalon Predictive Analytics and AI...
Finding the balance between personalization and consistency in the retail customer experience with Retail AI and Predictive Analytics...
Retailers collect more data than ever before, but without business-specific predictive analytics and retail AI getting value from big data is challenging....
Retail Fulfillment can competitive advantage when done right. Learn about common mistakes and how to avoid them....
Learn about the most common causes behind overstock in retail, and how to avoid them....
Promotional goals, types of retail sales promotions, and how technology like Predictive Analytics and AI optimizes them....
Discussing the how retailers are seeing numerous upsides to optimizing and automating their business with retail predictive analytics....
Should your brand drop fur as well? How retailers facing changing customer demands can leverage Predictive Analytics....
Spendsetters are too important to be ignored, but retailers have a wide variety of tools and options available to help them innovate and sell....
The Paper Store wins the IRT's Retailer Innovation Award for their innovation in supply chain, including Retalon's predictive analytics....
Retalon's implementation of retail predictive analytics technology with La Maison Simons was featured in the case study and won an award....
The largest privately owned jewelry retailer in America achieves a 20% increase in sales, and a significant decrease in inventory using Retalon....
Retalon's Predictive Analytics was chosen in the "Top 20 Most Promising Retail Technology Companies" by CIO Review magazine....
In this video, Leon Katsnelson, Big Data, and Cloud Program Director at IBM, discusses the explosion of interest in big data among retailers....
Retalon's implementation helps the largest college bookstore operator to reduce out-of-stocks and manage unique demand stimuli....
Learn about retail predictive analytics technology and how it has evolved past traditional forecasting & business intelligence tools....
Retail Realm Announces Partnership with Retalon to Enhance Microsoft Dynamics Retail Solutions with Built-In Advanced Predictive Analytics....