Andrew Busby

Are traditional merchandise financial planning strategies leaving your retail business behind in the fast-paced market evolution? Matt Hopkins, Global Retail Marketing Director, gives his expert opinion on a revamped approach which covers: ➡ Shifting focus ➡ Aligning merchandising with financial goals ➡ A single version of the truth ➡ Scenario planning ➡ Customer-centricity Read more below 👇 #retail #customerstrategies #scenarioplanning #intelligentplanning

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The challenges of cost and complexity within delivery and returns remain significant for retailers, the newly published RetailX UK Fashion Sector Report 2024 has highlighted. Although shoppers might be moving away from the concept of fast fashion the habit of wanting it fast and free is less difficult to shed. #fashion #retail #retailtrends #retailresearch https://lnkd.in/eXEJzHXe

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The challenges of cost and complexity within delivery and returns remain significant for retailers, the newly published RetailX UK Fashion Sector Report 2024 has highlighted. Although shoppers might be moving away from the concept of fast fashion the habit of wanting it fast and free is less difficult to shed. #fashion #retail #retailtrends #retailresearch https://lnkd.in/eXEJzHXe

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"Retailers have been grappling with this issue for many years, and it will continue to be a challenge as long as retailers need to compete for the consumers," says Mark Ryski, Author, CEO & Founder of HeadCount Corporation. "Retailers must remain competitive, but they also completely control their own returns policies and can make any decision they feel is right for their business. Offering customers flexibility and consideration for legitimate returns is just good customer service, and they should continue to do so. However, cracking down on abusive or serial returners is also fair game. Offering extra return privileges to loyalty program members may be a good way to curtail some excessive return behavior, but this alone won’t prevent it. Ultimately, every retailer needs to have a clear returns policy and then — here’s the hard part — actually enforce it even if it means losing some customers."https://buff.ly/4bDWvs3 Check out more insights from one of the retail industry’s leading experts - https://buff.ly/3qRfPx2. More great comments on this topic by RetailWire's BrainTrust experts including: Neil Saunders, Gene Detroyer, Anil Patel, Allison McCabe, Perry Kramer, David Naumann, Jeff Sward, Georganne Bender, Lisa Goller, MBA, Mark Self, Cathy Hotka, Keith Anderson, Karen Wong, • Shep Hyken, Kenneth Leung, and Mohammad Ahsen (Socially Ahsen).

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🏆 ExactOne - Ranked #1 on Maiden Century's IDEA Platform for The TJX Companies, Inc. (International Revenue). 🚀 Unlock the Power of Data: track spend, volume, basket size, market share, and much more with precision using ExactOne's consumer transaction dataset. 💼💡Maximise Your Insights. Optimise Your Strategy. #ExactOne #DataAnalytics #ConsumerInsights #MaximisePerformance

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Discover how cloud-based technology can support sales in this exclusive interview with our very own Alexander Ainge in KBBFocus ⬇ #Cyncly #CynclyKitchenSolutions

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Calling all retail aficionados! Want to keep your finger on the pulse of the retail sector? 🎧 Dive into our weekly 'Retail Roundup' podcast! Launching each Monday at 6am, our show brings you the most crucial updates from the previous week in retail. We provide a detailed snapshot of the industry’s dynamics, covering everything from emerging trends to significant market shifts, ensuring you’re well-informed. Listen in to gain crucial insights that will empower your decisions and keep you ahead in the retail game. Don't miss your chance to stay knowledgeable and proactive in the retail landscape! 🔗 Tune in now: https://lnkd.in/e8Urgs3g #RetailRoundup #RetailPodcast #IndustryInsights #StayInformed #MondayMotivation #RetailInsight #Podcast #BusinessPodcast #InsightOnTheGo #RetailEconomics

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Is there a smarter way for #retail to work with suppliers? Year-on-year (YoY) growth is seen as the measure of success but it rarely happens organically. Negotiating with suppliers to improve assortment, secure deals, and activate promotions is a key piece of that growth puzzle. Joint business plans with major vendors demand careful handling and means major suppliers get a disproportionate amount of attention. This leaves some small suppliers struggling to secure a meeting. Failing to negotiate with smaller suppliers makes no sense – there is plenty of money to be made through smaller scale relationships. Retailers must find a better way. #AI-driven #automation may be used here to speed up smaller-scale negotiations with larger suppliers, allowing senior staff to make high-level decisions surrounding innovative lines rather than being mired in minutiae. That kind of depth is the lynchpin of #algorithmicretailing, the process of linking a big data model with automated and AI-assisted processes. Learn more about how retailers can use algorithmic tools to refine the negotiation process and as a springboard for pinpoint planning, product innovation, and future profit growth ⏩ https://loom.ly/pRVNmo8 #intelligentmerchandising #suppliernegotiation

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Independents are the bedrock of the fashion retail industry, but cost-of-living challenges, business rates reforms, supply chain delays, Brexit setbacks and a further shift towards online sales have all impacted the sector. The Drapers Indie Indicator 2024 gives you the chance to share your thoughts on these critical matters. Click below to share your thoughts. #retailnews #fashionnews #fashion #survey #independent #indieretail

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At the Drapers Future of Fashion conference on 19 June, The Very Group's digital customer experience director Paul Hornby shared his advice on harnessing the power of AI and other new technologies dictating the future of fashion retail. Subscribe to read more below. #DFOF #DrapersFutureofFashion #technology #fashiontech #AI

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Navigating ecommerce shipping and Brexit's regulatory maze can be a major concern for UK clothing retailers. The solution? Partnering with a fulfilment service. It’s not just about dispatching parcels—this strategy transforms operational efficiency and customer satisfaction by ensuring reliable, swift delivery experiences. In the realm of ecommerce, where expectations and competition continually rise, embracing a fulfilment partner equips retailers with the agility to meet demand, adapt to changes, and thrive. Read more here: https://bit.ly/45mjghu #UKRetail #Ecommerce #FulfilmentServices #BrexitSolutions #CustomerSatisfaction

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The European Union’s proposed AI law was endorsed by the EU parliament on the 14th of March and will affect UK businesses trading in the EU.  With new regulations coming into force, 80% of the UK’s top 100 retailers express uncertainty around the long-term legality of AI.     Download our Retail Agility Report to find out the three biggest regulations affecting the ways businesses are planning to use AI – https://lnkd.in/e5cc9TJj   #Governance #AI #ForWhatComesNext 

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The rise of #retail brands, accompanied by a shift in consumer buying behavior, has created an opportunity for products with a perceived high value for money and a compelling #brandpromise. These factors are leveraging claims that influence #consumer choices. Join industry thought leaders James Campbell from UK retailer Sainsbury's, and Daniel Haley from Ingredion Incorporated, a global #foodsolutions provider, in a conversation about the reasons for growth of retail brands, the current state of business and key priorities for the next 18 months. Watch the full on-demand webinar here 👉https://lnkd.in/e-4RZMDG

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Our new #research shows that technology might be one area that hasn’t been given enough focus in retail operations. 😬 Read on to discover how important it can be and what you can do to make your store associates happier 👉 https://lnkd.in/dGmrpfYi #Retail

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These recent survey results highlight optimism among UK retailers, with 93% expecting business growth over the next year and 86% maintaining a positive outlook for 2024. However, despite this positivity, retailers still face a variety of challenges. 54% of respondents identified the ongoing cost of living crisis as their biggest hurdle. Recent supply chain disruptions, including attacks in the Red Sea, have also heavily impacted businesses, with 75% of retailers affected and 7% labeling these disruptions as severe. Find out how retailers are planning to counteract these challenges in the year ahead. Read more: https://lnkd.in/g4mV-MGx TechDay United Kingdom #fluentcommerce #retailnews #statistics #retailtechnology

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Today, we announced our partnership with industry leaders to build a new digital infrastructure that will make our business more customer-centric and operate more efficiently, while elevating the digital shopping experience for our customers. 🚀 Read more in the article below. Frasers Group

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How can DIGITAL drive store visits and INCREASE profits? 🤔 Most customers combine physical and digital in their journeys. Retailers are striving to make this as seamless and personalised as possible although our experience suggests many retailers are not yet offering best practice for every step of the journey and many retailers are not maximising profitability.   Multi-channel thinking suggests that the main focus of digital engagement is to encourage the customer to buy online either for home delivery or store collection. At itim we have developed a toolbox of techniques that also use digital engagement to drive customers to visits stores, where we have techniques to increase the average basket size and where any purchase is likely to be at a higher margin. Follow us to learn more or visit the ‘Contact’ page on our wesbite www.itim.com to get in touch. 🚀 #UnifiedRetailing #itim #CustomerCentric #Retail

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