Demand Forecasting and Demand Planning – What is the difference?
When quantifying and allocating products, retailers frequently reference “demand forecasting” and “demand planning” synonymously; while they share many similarities, they are essentially two distinct concepts that play different roles in the supply chain management process. Understanding the distinction and the complex link between the two is essential and can give retailers the perspective they need […]
Top retail trends 2022: Here is what we have learned
In the midst of a pandemic, national lockdowns, shortage of workers, supply issues, and sweeping uncertainty, retailers had to become more creative and flexible than ever before. Across the last two years, we saw massive shifts in the way retailers conducted business in order to stay relevant in a constantly changing environment. After surviving a […]
Q2 2022 Retail earnings call themes
Three themes we have seen in this retail earnings season: Inventory Excess, Continued Supply Chain Delays, and Inflation. Inventory Excess Inventory excess is currently a widespread challenge across retail. Everyone from Target and Kohl’s to Gap and Urban Outfitters is taking action to address the issue. Companies are mitigating the risk going forward by executing […]
Continued high inflation impacting Consumer Behavior
With inflation at record levels throughout 2022, consumers are rethinking how they spend their money. The inflation report released by the U.S. Bureau of Labor Statistics‘ for October 2022 shows the inflation rate is at 7.7%, down from 8.2% in September 2022. Although total inflation is consistently declining from the June peak of 9.1%, this will be […]
Retailers preparing for the season of returns
On average, retailers expect about 18% or $158 billion, of merchandise sold during the holiday shopping season to be returned, according to the National Retail Federation’s most recent data. While it’s not breaking news that e-commerce sales have increased in recent years, a less obvious side effect has been the increase in returns, especially in apparel. […]
Walmart and Target give a glimpse into Consumer Behavior
Target and Walmart have historically served as bellwethers for the retail landscape as a whole, often having similar successes and challenges. For Q3, the two retail giants saw similar consumer patterns, but with different impacts on performance and earnings. Key takeaways: Walmart’s quarterly results exceeded expectations, resulting in an updated yearly guidance to […]
Winning holiday strategies
The holiday season is upon us, with the biggest spending period of the year, Black Friday through Cyber Monday, having come and gone. Retailers have positioned themselves all year with their inventory, real estate, and strategic decisions to optimize earnings – with varying results. Holiday 2022 Recap and Forecast Compared to 2021, where […]
Day 1 @ NRF 2023 | Trends, themes, and talks
This year, retailers, vendors, and industry experts all across the globe met up in NYC to discover breakthrough solutions and technology. (Did we mention, Cognira & Retsci are exhibitors at Booth #561) While we’re at NRF 2023, get a day-by-day recap of the interesting trends, themes, and talks we saw while at the show. Themes […]
Day 2 @ NRF 2023 | 4 talks that left us inspired
The first day of NRF is all about getting used to the environment – understanding the themes, types of vendors, and overall goals for the 3-day event. For day 2, however, it’s taking advantage of what you know and spending your time wisely.Besides exhibiting, our team of retail experts got to join some of the […]
How personalization transforms promotion success
Like the song from Love Actually, “Love is all around us”, the same can be said about personalization. Think about the places you shop, the streaming subscriptions you watch, and even the news you consume…all of these services have made a conscious effort to curate and promote unique products and information to your personal interests […]