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Follow on Google News | Retailers Re-evaluate Their Markdown Process To Recoup Dollars Left On The TableRetailers, from apparel to electronic and specialty, are realizing the importance of applying scientific processes to the art of markdowns in order to optimize all markdown decisions.
By: EyeForRetail Maree McMinn, Strategic Pricing Manager of AAFES sees markdown optimization as an untapped opportunity for her business; “Markdowns are out of control and with no tools to provide insight into the best course of action we are leaving millions of dollars on the table”. Maree continues, “We are looking for ways to implement true markdown strategies as we move from season to season and make the most profitable decisions through the entire product lifecycle.” Manu Sareen, Sr. Pricing Manager, Pricing Strategy/Future initiatives and Chris Smith, Sr. Pricing Manager, Price Optimization/ Frank Jones, Vice President of the Performance Improvement Practice of AlixPartners and speaker at Retail Clearance and Markdowns 2007 believes that the fear of being left behind competitors who utilize markdown optimization technology is just one of many reasons behind this growing trend; “Competitive pressures create demands on retailers to manage margins and certainly markdowns have a large impact on gross margins”. Frank continues, “Markdown management has always been a priority in some retail businesses (e.g. clothing, soft goods and electronics) Maree, Manu, Chris and Frank are just four of the retail clearance and markdown experts confirmed to speak at the first ever Retail Clearance and Markdowns Conference, in Chicago, June 20-21. This exclusive conference zones into the entire markdown process from planning to execution and is a must attend event for any retailer who wants to make better markdown decisions. FC Group [First Conferences Ltd] is a UK based publisher, event origination and marketing company. Operating internationally in multiple vertical industries the company is known for its high level summits and industry news services. Website: www.eyeforretail.com/ End
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