With spring here, retailers should take steps to quickly clean up their warehouses and clear outdated inventory, writes Maria Haggerty, CEO of Dotcom Distribution. Targeted e-mails to customers who have purchased similar products can help in offloading inventory, as can online targeting of customers in the process of buying similar products, she writes. "If you've exhausted clearance and sale opportunities and still have excess inventory to move from your warehouse, you should consider liquidating your stock" and employ a liquidator that fits your brand, Haggerty recommends.
Target will introduce its Buy Online, Pick Up in Store service at all of its 1,800 U.S. locations by Black Friday at the end of November, the retailer announced, giving the company less than three months to rewire its inventory systems to accommodate the service, which is already offered by rivals including Wal-Mart and Best Buy. Target also has plans for later this year to allow customers to pick up digital purchases in stores on the same day they order them and to buy products at one location and pick them up elsewhere.
Saks has taken successful steps toward a rebound, including beefing up online sales, cutting costs and excess inventory, and increasing its investment in marketing. The company is reaping the rewards of its recession-era efforts, as high-end shoppers start spending again.
SUPERVALU's new chief executive officer, Craig Herkert, intends to make merchandising and promotional campaigns simpler, cut the number of products offered, and create a cohesive voice for all of the company banners. He also plans to double the number of Save-A-Lot locations.
Dublin, Calif., voted to ban the development of big-box stores within its city limits. Retail establishments larger than 170,000 square feet will be considered big-box, and membership stores, such as Costco, will be exempt.