Driving Size Optimization Precision

During the last 12 months, fashion retailers heavily invested in tightening assortments and improving their inventory efficiency. While these investments are needed, all the benefits come undone if a customer cannot find their size. Worse, tightening assortments exacerbates the size stock-out problem, damages customer satisfaction, and creates significant financial pain unless size allocation is accurate. A 20% size misallocation drops margin dollars by 50% if markdown pricing is uniform across all sizes. 

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There will Never be a Better Time for Systemic Promotional Changes

Any post-crisis (or even mid-crisis) is the best time for new opportunities, offering a clean slate for growth and rebirth. For years, promotional ineptitude has been well documented – with Nielsen publishing that 2/3 of promotions fail. Confirmed by study after study that would show anywhere between 80-90% of them don’t unleash additional revenue or margin. Even with that knowledge, the allure of trade dollars, and the risk of dramatic change, compelled most to stay the course and continue to invest in bad promotions. That’s now changed.

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Finding Profit in Omnichannel

Not an Ideal Predicament

Depleted revenue, compressed margins, a shortage of labor, plus an infrastructure not designed for an online volume consisting of 40-60% of total sales. Not ideal for fashion retailers. And beyond that, retailers experience up to 8 percentage points of margin loss on a digital order.1

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Infographic: Omnichannel Fulfillment Challenges

Increased omnichannel shopping and shifting customer order fulfillment costs retailers 6 to 8 percentage points of margin. Read about the typical challenges faced by fashion and apparel retailers due to these shifts.

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Infographic: Finding Profitability in Omnichannel

Omnichannel fulfillments comes at a cost to retailers, so how can retailers become omnichannel aware and find profitability in this paradigm? Read below to find out more.

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