As data-driven decisions become the norm across all industries we can expect more retailers to increase the use of EDI platforms. Today, a data-driven enterprise has the best chance to succeed, especially in a challenging market. Considering this, retailers need to consider using their existing EDI infrastructure to redeploy their own data via smart software
Content The traditional merchandising approach has always relied on a combination of experience, skill, and guesswork. Although this has been the ‘least bad’ option available, it has always had less than perfect results.In today’s current environment, and with the advances in technology, it is now possible to make better merchandising decisions (which are backed up
Content Inventory is the largest single ongoing capital investment for most retailers. Therefore, it is vital to mimise the risk from inventory excess, while ensuring sufficient supply for items that sell well. This is no easy task. It requires an active process that regularly reviews stock velocity and dynamically adjusts budgets to ensure spending occurs
Content Merchandisers form a vital link between the supply chain and the consumer, with Marketing and Sales activities helping to make that final connection to the merchandise itself. However, merchandisers find themselves in an endless cycle of merchandise planning, year after year. Without much control over the broader supply process, their role has become more
Content As consumer sentiment (and buying behaviour) now shifts more quickly than ever before, it has become practically impossible for fashion retailers to produce a meaningful demand forecast. Collections are still typically produced many months in advance, meaning the potential margin of forecast error widens over time with increasing uncertainty about real demand. It can
Content Big data makes some big promises, yet many retailers are still failing to see the potential rewards of digitalization. Despite collecting vast amounts of valuable data, many organisations fail to convert their data into business intelligence, especially in retail. Instead, data is either allowed to simply accumulate in departmental silos, or it’s used to
Content What is visual merchandising? Fashion retailers have relied on visual merchandising to display their products and entice shoppers since ‘shopping’ was invented. The practice of visual merchandising aims to show potential buyers specific qualities of a product, or to show it in a certain context to encourage a sale. Window displays are one of
Content Traditional approaches vs. modern approaches The entire merchandising process is undergoing an evolution as more roles are taken over by smart algorithms, AI, and platform retailing solutions. Traditional ways of thinking are being replaced with more effective, data-driven merchandising processes that can react in real-time to actual demand. But what does this mean for
Content “Just like Netflix knows which movies to recommend local viewers everywhere, brands can recommend relevant assortments to local consumers everywhere. Using data and platform technology. On a platform, brands and retailers can respond to local retail demand by dynamically adjusting local retail assortments and adjusting the flow of merchandise to retail, while respecting agreements
Content “In light of these sweeping changes, a retail executive might be tempted to rip up the roots of their business model and institute hasty reforms. The wiser approach is to analyze granular details about customer preferences and remain agile in responding to them”. Richard Bezuidenhout, Global distribution operations manager, Daniel Swarovski Corp. The modern