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The Retail Merchandising Blog Insights and Opinions for Retail Merchandising teams

Planning for a Retail Renaissance

Clearly it's not the best of times for a traditional retailer. The stock market is hitting new highs while unemployment is at a new low, both indicators that normally drive spending, and warm the hearts of Retailers. From the world of Retail though, the only thing that seems to be up for many are store closings and pity parties. Even worse if as a Retailer you didn't move early and fast to online, you may have a sinking feeling that the high-growth online opportunity has past you by with Amazon now gaining over 50% of every incremental online dollar, and welcoming the 50th million customers to its Apparel business. Winning in the Retail Renaissance will involve mastering some new skills and disciplines.

question everything retail

For a variety of reasons, and avoiding the overused term, "perfect storm" there is a confluence of factors contributing to the disruption of the retail business as we know it. With some deference to the art of hyperbole we read statements such as this…

Peter-Charness_TXT-Retail

Last week I attended Thinking Retail, TXT Retail’s Merchandising Symposium in Amsterdam, a gathering of merchandising resources and experts I haven’t really seen since the MIX days surrounding the Retail Systems Show. I know it can be difficult to get merchants together to talk to each other about their challenges, especially when many companies regard the selection, acquisition, and distribution of products to be core to their competitive advantage – it can be somewhat like asking Coca-Cola and Kentucky Fried Chicken to get together to swap recipe tips. Even when they’re not directly competitive, no one is excited to talk about it. In merchandising though, things are changing.

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Retail

Retailers are dealing with the challenge of operating across multiple channels while navigating a retail landscape that has never been more competitive, which is placing a great strain on their merchandising and inventory management capabilities. Retail industry publication Essential Retail interviews Peter Charness, CMO at TXT Retail on what it takes to succeed in modern retailing. Check out the article.

retailing planning pressures

There's little question that the pressures on most Retailers today have never been higher, and the to do list of necessary activities and new tasks has never been longer. Retailing today is not for the faint of heart. The dynamics of the industry are rapidly changing, online is growing, brick and mortar expenses tick up while revenues head down. And online dominant retailers such as Amazon are roiling one segment after another as Shoppers have become quite comfortable buying virtually anything online.

Merchandise Planning Glossary

This merchandise planning glossary of terms is intended to give you the basics of many commonly used industry terms. You will also find included below...