Retail Brew’s Post

The Future of Brick-and-Mortar Stores in Liquidation Inventory Sales The future of brick-and-mortar stores in liquidation inventory sales is evolving as technology and consumer preferences change. While online sales have surged in recent years, brick-and-mortar stores still play a crucial role in the liquidation inventory marketplace. One trend that is shaping the future of brick-and-mortar stores in liquidation inventory sales is the integration of online and offline channels. Many retailers are adopting an omnichannel approach, where customers can seamlessly shop both online and in-store. This allows brick-and-mortar stores to reach a wider audience and provide a more convenient shopping experience. Another trend is the use of technology to enhance the in-store shopping experience. Retailers are incorporating augmented reality (AR) and virtual reality (VR) technology to allow customers to visualize products in-store before making a purchase. This technology not only enhances the shopping experience but also helps retailers better manage their inventory and reduce costs. Additionally, brick-and-mortar stores are focusing on creating unique and engaging shopping experiences to attract customers. This includes hosting events, offering personalized services, and creating immersive environments that appeal to the senses. Overall, the future of brick-and-mortar stores in liquidation inventory sales looks promising, with retailers leveraging technology and innovation to stay competitive in an ever-changing marketplace. #wholesalebusiness #wholesaleprice #wholesaledistribution #wholesaledistributor #liquidation #liquidations #wholesale #wholesaler #retailbusiness #retailer #retail #resale #resellers #resellercommunity #reseller #reselling #productsourcing #closeout #overstock https://lnkd.in/eh92HvDn

New White Paper: Navigating Cross-Shop Scares 🛒💳 The cross-shop scaries are real, but Consumer Edge data can help companies figure out when to invest in combating cross-shop versus when to just run away. For instance, a shoe purveyor like StockX may be concerned by how other shoe stores their customers frequent. But StockX should focus its worry on its core shoppers. Over two-thirds of StockX customers only make one purchase a year, and StockX only averages about two purchases per year from its customers. Rather than trying to win these customers’ loyalty, StockX should instead focus on winning incremental sales from more frequent shoppers who make up one-third of customers but two-thirds of spend. https://hubs.li/Q02F2WJ30 #consumerbehavior #crossshop #insights #corporates #research

I found this Glossy article (link in the comments) incredibly insightful as it relates to the shifts in consumer behavior and the strategies fashion brands are using to capture summer sales. Key takeaways: 🔥 52% of Americans spend more in the summer! Booming E-commerce: Online sales are expected to hit $6.3 trillion in 2024. Fashion First: 78% of consumers prioritize clothing for summer spending. Flash Sales: Leveraging FOMO with limited stock and timed promotions drives impulse buys. Case Study - Sezzle retail partner, Cecil and Lou: Successfully scaled by forecasting inventory and using pre-sale custom orders 👏 Strategic inventory management and unmissable summer deals can make 2024 a record-breaking season for fashion brands!

The new strategic partnership  announcement between Walmart and StockX , is a lot more than just selling more kicks. It puts a spotlight on the growing need for brands and marketplaces to collaborate to offer new unique offerings and value to stay competitive. With Walmart making gains on the number one marketplace, Amazon, Noogata believes technology like AI and LLMs will help accelerate growth and expansion for competing marketplaces, brands and sellers of any kind. Walmart recognizes a growing market for second hand sneaker sales and the demographic associated with it. This partnership brings more traffic from more u unique customers, and can offer more than just sneakers - they can buy everything else they need, or would purchase on Amazon.  Finding gaps in your product offerings, discovering shifts in consumer demands and launching new products is inherently a challenge for big brands and marketplace channels like Walmart. Noogata’s AI assortment intelligence solutions helps brands, sellers and CPGs to fine tune and automate product assortment analysis, assortment planning and strategy with ease. While assortment insights, product intelligence and PPA were traditionally reserved for the big brands and conglomerates.  Noogata’s solution makes it scalable for any customer with any portfolio size. A first for the industry and a game changer for growing data-centric ecommerce businesses.  Imagine if Walmart or their sellers could immediately be aware when consumer demands are shifting based on consumer search patterns? Or distill data to determine which products or unique attributes, like “vanilla scent” are ripe for growth but your ecommerce team is yet to locate that key product insight? Better yet they can be served insights out of this type of data, it will show which new products we should release, what categories we can enter into, and that within a category green is the best selling color. It will impact their assortment, it will challenge how they assess it and how they define success of a new product. Everyone knows success is hidden in a treasure trove of ecommerce data. The best way to unlock it (objectively 😉 ) is with with Noogata’s AI ecommerce growth tools, discovering and delivering those valuable product insights is accessible to all who need it. What do you think?

Best Buy is planning an experiment. In the next fiscal year, the electronics retailer will test its ability to retain its customer base by closing large stores and opening smaller ones in the same area. #storeformats #smallstores #bestbuy #retailinnovation

This sounds like common sense but you would be amazed how many DTC brands fail at this.... Only bring your hero SKUs into distribution on retail shelves. Why? They are proven winners. A great base to expand upon. And new placement can get costly. Save the full portfolio for DTC. Surprise and delight on DTC. Get a strategy on how to move what forward at retail. Strategy is NOT saying yes to everything. Onward y'all. Go, sell, and rejoice! #sales #strategy #alittlelouderforthebrandintheback

This is another of Best Buy’s intenta to diversifying formats. In the 90’s they tried some small downtown stores, later vending machines in high traffic locations like airports, with mixed results. But this time there’s the supplement (and competition) of e-commerce. And they’re not the only ones moving in this direction. In recent years IKEA has been opening smaller stores in major city centers across Europe, attracting customers with convemient locations and accurate assortments. Zara has closed +1200 stores to concentrate on better yielding locations. Retailing is evolving in this era of combined on-offline UX. I sincerely hope it will work for Best Buy.

"What price should be selling my product at?" Join me as I dive into a fascinating conversation with Jo Davis, a retail merchandiser veteran with a knack for transforming brands. From her journey through names like TopShop, Dwell UK, Select Fashion and Multiyork to the startup scene, Jo shares insights on the ever-evolving world of retail and how to bring good practices to DTC Brands. We'll explore the art of merchandising, the power of data-driven strategies, and the challenges of supplier negotiations. Find the full episode in the comments!

I just spent the last hour in HomeGoods Stores, and it called to mind this article I wrote awhile back about disrupting the entire business model with computer vision technology. With Amazon now using RFID in apparel walk out experiences, it excites me to think that the idea posited in this article could very well be in their sights soon too. #retail #retailing #grocery #advertisingandmarketing #onlineshopping #shoppingandtheretailindustry #supplychainmanagement #FastFive #fashionretail #luxuryretail #beauty

It happened yesterday: I got my first holiday email - a Black Friday early sale from a specialty shoe retailer. I've always viewed the official start of the holiday season as November 1st, so here is a guide to prepare for the most important dates of the upcoming holiday season. As Scott Galloway recently pointed out on an episode of Pivot, this is the time of year when retailers make money. Use this guide to plan for a productive and profitable holiday season. #EcommerceStrategy #2024Holidays #DigitalMarkeitngStrategy #DigitalLifecycleMarketing