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Target is Betting Big On Retail Analytics

Earlier this week, Target announced that they are continuing to focus on assortment and supply chain issues this year in an effort to realign in-store merchandising, with the ultimate goal being to both reduce surplus inventory and prevent in-store merchandise from going out-of-stock.  

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Topics: markdown optimization, retail analytics, inventory, target

Solving the Return Season Problem with Retail Analytics

For most of us, this time of year means a few different things: winter is inching closer to giving way to Spring, the Super Bowl is just a weekend or two around corner, and our New Year’s resolutions have been all but abandoned (come on, just admit it). But for retailers, the end of the year’s first month marks the end of something much more significant: Return Season. And that’s a really big deal. 

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Topics: assortment optimization, markdown optimization, retail analytics, returns

Black Friday Isn’t What It Used to Be

There’s a lot of articles over recent years proclaiming the death of Black Friday. While it may not be dead, it's certainly different. The word Black Friday reminds many of the old days, which meant getting up at 4 am for the best deals, waiting in endless lines, getting trampled, and yet still feeling like we accomplished something. Ahh the memories.

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Topics: holidays, markdown optimization, black friday

Early Season Retail Markdown Strategy

Markdowns should be top-of-mind for retailers, since they negatively impact gross margin and ultimately hurt profitability. For example, in May 2015 Macy’s Inc., a $28 Billion dollar retailer, forecast lower Q2 profit due to markdowns caused by late shipments. There are many reasons for markdowns -- some factors cannot be controlled, while many others can be controlled.  The fact is that markdowns could be mitigated if more resources were devoted to assortment optimization, buy quantification and allocation efficiency at the beginning of a season. By addressing these core operations at the beginning of a season, rather than at the end of a season, gross margin and profit would increase.  

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Topics: markdown optimization

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