O2O is an opportunity to outperform - Being: Peter Kim. O2O has been receiving increased attention along with the rise of e-commerce.
But many tactics are merely incremental variations on old offline concepts. Making O2O work with a modern approach requires understanding three key concepts. The rise of e-commerce…and the problem it creates 2014 was a record year for ecommerce revenue. Sources estimate that US holiday season shoppers spent over $50 billion online, while sales in the UK exceeded £100 billion for the full year and totaled almost $450 billion in China for 2014. Enter O2O: “online-to-offline commerce.” Since the rise of e-commerce in the 1990s, retailers have experimented with ways to connect dot-com to legacy offline stores.
Retailers have been the earliest to embrace O2O, but digital disruption has impacted companies of all kinds, from advertising to venture capital. Risk adverse companies will take small, incremental, and defensive steps to integrate digital methods into their business models. Untitled.
Bizline－The Age of O2O Commerce ？ Online and Offline Joining Forces to Drive Con. Retail University. Optimize Your Clearance Sale to Sell Excess Inventory. By David Johnson on 04/17/15 A couple months ago you noticed there were products in your store that have not sold in quite some time.
You decide to knock off a percentage of the retail price and move these items to the clearance rack. Even after the discount, these products are still stuck in your store. It may not be the products, or price, but possibly the clearance area itself. First off, when placing items in your clearance section don't feel defeated. Don't try some risky maneuver to hide your clearance rack somewhere in the back corner of your store. Red is a great color to quickly attract attention and signify a markdown, but be sure to use it sparingly. Place smaller items by the check out area. Make sure you have one clearance sign above the section that is tall enough to be noticed around the store, and another one eye level to the customers near it.
"The biggest mistake retail stores make is not fully committing to moving a product out of the store and turning it into cash. Quantisense mine for gold retail analytics. Inventory Productivity - Retail Business Intelligence. As a merchandising professional, you may be accustomed to spending your Sundays entering and analyzing mountains of data in Excel spreadsheets.
But what if there was a better way to search for and identify inventory exceptions? One that allows you to see both current and historic exceptions and enables you to better manage your inventory at SKU level, per store and channel? And not just any exceptions, but those with the greatest opportunity, which you could act upon immediately. Just imagine the impact this real-time, actionable data could have on your sales and margins. A VP of Planning and Allocation for a national children’s clothing retailer didn’t just imagine this scenario—he made it a reality when he was chartered with reducing inventory and increasing margin.
With Playbooks, you have the power to find fixable imminent stockout and overstock issues, which lead to a healthier bottom line. Surplus inventory: Avoid it, identify it, sell it - Industrial Supply Magazine. Average Rating: 4.5 Your rating: none by Gerry Aubert A customer cancels a large order.
A vendor offers a moderate discount to double an order for products you might sell over the next 12 months. This month's sales forecast is inaccurate. As much as distributors may like to tuck away the problem as easily as they can tuck away the surplus inventory in the dusty, back corner of their warehouse, they can't. RETAILWATCH: Omni Channel Retailing and the Importance of Inventory Intelligence. Source: Ramesh Jayaraman, VP, APAC, TRS/ Tony D’Onofrio, VP, Global Accounts & Source Tagging, TRS This month we want to highlight the accelerated changes taking place in retail and how savvy retailers are responding through innovative new technologies.
Worldwide and especially in Asia, consumers are now highly connected through mobile devices that they are increasingly using to “assist” and enhance their shopping experience. The brick and mortar store is becoming just one of the elements factored in the shopper’s journey to a purchase. Progressive retailers have responded to the more connected consumer by adopting omni channel product strategies.
We hope the knowledge gained from this newsletter issue will enable you to start your inventory visibility journey towards a more profitable omni channel retailing. Introduction to Inventory Management: Principles and Strategies for the Efficient Flow of Inventory across the Supply Chain. This chapter is from the book Managing customer and vendor relationships is a critical aspect of managing supply chains.
In many cases, the collaborative relationship concept has been considered the essence of supply chain management. However, a closer examination of supply chain relationships, particularly those involving product flows, reveals that the heart of these relationships is inventory movement and storage. Introduction to Inventory Management: Principles and Strategies for the Efficient Flow of Inventory across the Supply Chain.