Blog
Markdown Management: Strategies for Profitability and Sustainability
Markdown management is often misunderstood as simply the process of discounting products to clear inventory. However, in the fast-paced and competitive world of fashion retail, it is a strategic discipline that directly impacts profitability, brand perception, and operational efficiency.
The Competitive Advantage of Effective Demand Planning
Demand Planning enables companies to accurately forecast customer demand, ensuring that the right products are available at the right time and in the right quantities. This, in turn, helps to minimise stockouts, overstocking, and associated costs. By analysing historical sales data, seasonality, and market trends, demand planning allows businesses to make informed decisions about production, pricing, and inventory management.
The Role of Data Analytics in Merchandise Planning
In today’s fast-paced retail environment, where consumer preferences can shift dramatically within a short period, the importance of data analytics in merchandise planning cannot be overstated.
The Importance of Merchandise Planning In Retail
Retail companies need Merchandise Planning teams to ensure that they effectively manage their product assortments, inventory levels, and financial resources to meet consumer demand and maximise profitability.
Merchandise Planning explained
Merchandise planning is a crucial element in the retail industry, involving the strategic process of selecting, buying, presenting, and managing products to maximise sales and profitability while meeting consumer demand. This comprehensive guide explores the various facets of merchandise planning, its importance, and the key strategies involved in executing an effective merchandise plan.