Rich Kurhajetz’s Post

Returns can be a headache, right? From misplaced inventory to liquidation risks and everything in between, they're reshaping the way retailers do business. Let's discuss some of the common challenges: 📍 Misplaced Inventory: Ever had returned items end up in the wrong place, causing lost sales and excess inventory? 📆 Seasonal Variations: How do you handle return fluctuations throughout the year? 💰 Liquidation Risks: What's your strategy for items that can't be resold at their original price? The good news is that there are innovative solutions out there! From predicting the perfect discounts and optimal paths for returned products to reducing costs and time in transit, we can make returns work in your favor. Let's talk! 💬 https://lnkd.in/gD6RrC6u

Retailer, which one are you: the one gaining a competitive advantage by using a robust pricing technology, or the one risking being left behind with disconnected functions and lackluster technical abilities? 🤔  If you want to be the first kind (which I recommend) but worry you might be the latter, fear not – it’s not too late and I am happy to help. I’ve just finished reading the new “Precision Pricing in Retail” report by Coresight Research and felt inspired to spread the word on how an advanced pricing optimization software can help retailers win customers and sales. RELEX Solutions is an expert in end-to-end supply chain optimization, and that includes nailing your pricing. Get in touch with me and let’s start the conversation.  #Retail #PriceManagement #Pricing #AI #Solutions #Technology #RELEXSolutions

#Retailers are transforming #pricing strategies with AI-powered solutions, outperforming traditional methods by optimizing prices across multiple dimensions. The key to #success? A robust infrastructure featuring a centralized pricing team and an integrated data platform that responds quickly to market changes. Discover how AI can redefine your market strategy in our latest insights.

👉 Missed our webinar on "Why the Future of Pricing is Customer-Centric"? Don't worry, we've got you covered! In this insightful session, industry leaders Alex Galkin ✪, Steven Winnick, and Manik Bhatia shared their expert opinions on: ✔How AI can optimize your profits ✔Actionable pricing strategies to enhance customer trust ✔Key insights to prepare for the future of retail pricing If you missed the webinar, get your insights here: https://bit.ly/4bjcevg #Retail #Pricing #Webinar #CustomerCentric

#Retailers are transforming #pricing strategies with AI-powered solutions, outperforming traditional methods by optimizing prices across multiple dimensions. The key to #success? A robust infrastructure featuring a centralized pricing team and an integrated data platform that responds quickly to market changes. Discover how AI can redefine your market strategy in our latest insights.

Dynamic or real-time pricing, especially in a B2B context, is often still nowhere to be found. Especially not with optimizations relevant to stock levels, customer demand estimations, demand forecasts, etc., which I find surprising as the data or proxies for it have been there for a long time. My hypothesis is that such initiatives are often blocked more on the legal or finance side of the house, where taking no risk on innovative approaches is the easiest way to progress. A lot of value gets left on the table that way. Let's see where GenAI gets us on that front - autonomous agents negotiating deals in real-time with dynamic prices and hedging against fluctuations in the market? Why not? #pricing #business #data #systems https://lnkd.in/g6N_VzKV

Discover the game-changer in eCommerce profitability! A leading retailer achieved a 7% increase in profits, a 40% boost in product liquidation, and a 50% rise in customer loyalty, all thanks to Hypersonix's cutting-edge Pricing Intelligence. Learn how they transformed their pricing strategy and data management to stay ahead in a competitive market. #EcommerceSuccess #PricingIntelligence #RetailInnovation 📈💡

The return process can be a maze, impacting both customer satisfaction and a retailer's bottom line. How can retailers manage in-store returns more efficiently? It's not just about handling returned items; from processing returns at the front end to determining the fate of each item on the back end, every step presents its unique set of challenges. Our Returns Positioning solution not only streamlines the returns process but also enhances profitability by optimizing the path of each returned item through smart algorithms and data-driven insights. By intelligently reallocating merchandise, retailers can maximize full-price sales and minimize the impact of returns on their revenue. Rethink the way you handle returns. Stop by booth #4141 at the National Retail Federation Show to learn how! 👉 https://lnkd.in/g8RnmzQr #nrf2024

Discover how AI-powered systems can monitor inventory levels and sales trends, ensuring optimal stock levels and reducing the risk of bottlenecks. Stay ahead of the game with AI-driven insights! To know more contact here at info@bottlenecksoft.com #AIinEcommerce #InventoryManagement #AIRevolution #InventoryOptimization #EcommerceInnovation #AIInsights #AIforEcommerce #SmartInventory #FutureofRetail

💡 Is the increase in online returns becoming a growing concern for retailers?   Despite challenges posed by social and economic uncertainty, maintaining profitability is still possible. As online sales are particularly vulnerable to returns, these can further erode profit margins and cause significant damage to customer loyalty. To mitigate this, retailers should consider providing enhanced product guidance, utilising dynamic pricing through data science, and harnessing science-led demand forecasting capabilities. By implementing these proactive strategies, retailers can effectively minimise the margin impact of returns while also strengthening customer loyalty and perception through an overall frictionless return process. 🔗 Visit the following link to learn how: https://lnkd.in/e7EtvfJY    #Returns #AI #DataScience #DemandForecasting #DemandPlanning #CustomerBehaviour #ReturnsManagement