The COVID-19 pandemic has hit retailers across the board. Now, midsized retail chains are affected as millions of people stay at home and practice social distancing. Brick-and-mortar shops selling essential supplies such as food, hardware and pet supplies are allowed to stay open, but other retailers are closed. This move has led to consumers increasingly relying on Amazon and other online shops to meet their needs, but the website is […]
Inventory is the single most important investment for your company. When your inventory works against you rather than for you, it leads to big problems. For retailers of all sizes, omnichannel inventory is growing in popularity. However, for midsized retailers, it’s a necessity to compete with the ecommerce giants. Omnichannel customers are valuable and can offer a good boost to your bottom line, so you must strive for sharpened omnichannel […]
Midsized retailers lacking an accurate inventory run the risk of losing customers, especially if a competitor has the same or a similar product. According to an IBM study, if an item is out of stock, and the store can’t find the item in another location, 72% of customers will switch to a competitor. Keeping an up-to-date inventory is vital, especially as the retail industry continues to evolve. Simply put: If […]
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