Retailers are empowered by AI and ML technology driven analytics to optimize inventory and eliminate the $50B overstock crisis. Some retailers are facing backlash over images showing piles of unsold inventory that have been burnt or destroyed. This overstock issue is not new, and retailers have tried to manage their unsold goods through donations and resellers, but there is simply too much inventory. In 2018 retail giant H&M disclosed that they had $4.3 Billion in overstocks. An amount that is hard to picture and even harder to deal with. Far from simply a financial issue, overstocks are ..read more

Retalon announces that any user of Microsoft Dynamics 365 Commerce can use award-winning AI and analytics solutions without a lengthy implementation cycle. TORONTO (PRWEB) FEBRUARY 04, 2022 Retalon, an award-winning provider of AI and predictive analytics for retailers has become a Microsoft Partner through the release of their analytics solutions for planning, inventory management, and lifecycle pricing on Microsoft Dynamics 365. Traditionally, implementing advanced analytics, planning, and AI solutions into legacy retail ERP environments required expensive and lengthy implementation cyc ..read more

Written by Retalon CEO, Mark Krupnik, originally published in Entrepreneur. The commonly accepted definition of artificial intelligence (AI) is the capability of a computer to decide without human intervention. Let’s think about this for a moment: If I taught a computer that 2 plus 2 equals 4, then from that moment on this computer will be able to answer the question “How much is 2 plus 2?” without human intervention. Does this mean it has AI capability? Well sort of, but it’s a bit like cheating because human intervention did take place, just in the past. The computer is only able to so ..read more

Yes, the holiday shopping season is short–and apparently getting shorter. The average holiday shopping duration among consumers in the US has gone from an average of 7.1 weeks in 2018 to an anticipated 5.8 weeks in 2022 according to Statistica. A shorter holiday season coupled with the current economic downshift means retailers, like you, must maximize holiday sales with the time you have. How can you best do this? Here are four profit-generating strategies you can implement–sooner rather than later: 1. Optimize pricing for varied income brackets Retailers who provide products with a range of ..read more

Retail merchandise planning is the strategic process retailers use to determine what products to stock, in what quantities, and where to allocate inventory across stores and e-commerce channels. It’s essentially the playbook for retail success. But in today’s rapidly evolving retail landscape, the traditional methods of relying on past sales data, gut feelings, and intuition often miss the mark. With shifting consumer trends and preferences, retailers need agile planning approaches that can pivot to align with changing times. This is where predictive analytics comes in – providing data-driven ..read more

Ecommerce continues to rapidly gain market share year after year. To stay competitive in this fast-paced environment, online retailers need to closely track and analyze key performance indicators (KPIs) that measure the health and success of their business. Understanding your ecommerce KPIs allows you to identify issues, optimize processes, uncover new opportunities, and benchmark your progress against industry standards. Monitoring the right metrics leads to data-driven strategies that drive sustainable growth and profitability. In this comprehensive blog post, we will overview the 10 most c ..read more

As a retailer, effectively managing your inventory is critical to the success of your business. One of the key inventory metrics retailers track is inventory turnover. Inventory turnover measures how many times a company sells and replaces its inventory during a period. It indicates how efficiently inventory is managed and whether excess inventory is tying up too much capital. Calculating your inventory turnover ratio provides insight into the health and efficiency of your retail operations. Read on to learn more about this important retail KPI. What Does Inventory Turnover Measure? Invento ..read more

In today’s complex and fast-paced retail landscape, finding the optimal price point to maximize profits can feel like a never-ending quest. Retail dynamic pricing, powered by AI, is emerging as the compass to guide retailers through the convoluted maze of data-driven pricing strategy. This article will explore: What dynamic pricing is and why it’s essential for modern retailers The limitations of legacy pricing systems How AI is transforming retail pricing Key strategies for implementing dynamic pricing How to navigate supply chain disruptions with dynamic pricing A step-by-step roadmap for ..read more

In today’s omnichannel retail world, traditional pricing methods are struggling to keep up. Retail pricing intelligence gives retailers a strategic edge with data-driven pricing decisions. With AI and predictive analytics, retailers can anticipate customer reactions and optimize prices rather than guessing. This article will explore: What retail pricing intelligence is and why it’s important The pitfalls of traditional retail pricing How predictive analytics and AI transform pricing The multitude of benefits pricing intelligence unlocks Solving common retail headaches with pricing intelligen ..read more

The retail world is evolving rapidly across many digital and physical channels. Mastering omnichannel ecommerce strategy is essential for retailers to deliver a seamless shopping experience. In this comprehensive guide, you will learn: What omnichannel ecommerce strategy entails Why it’s critical for high-revenue retailers The key role ecommerce merchandising plays Common challenges and proven solutions Practical steps to implement an effective approach The immense benefits of getting omnichannel right By the end, you’ll have a clear roadmap to take your retail strategy to the next level in ..read more