Are you facing overstock in your seasonal merchandise halfway through your season? Do you need to mark prices down to get rid of excess inventory? How do you know when and how much you should mark down to sell your stock while maximizing your profit? We can help!
Markdowns are one of the best tools to eliminate excess inventory and control losses while maximizing profit in your retail business when products are near the end of their life-cycle and overstocked. By applying markdown strategies, retailers can clear unwanted stock and optimize remaining profit while creating space for products in the next season and with higher demand.
One of the hardest decisions, however, is when to mark down, and by what percentage? Our Markdown Profit Maximizer Solution supports businesses to make informed decisions based on highly accurate demand predictions in relation to future price changes.
By utilizing a new, radical approach in optimizing markdowns, which was conceived and developed by our team relying on their multi-decade industry best practice experience and expertise, we can predict the optimal markdown dates and percentages that yield the best possible results in sales and profitability, with very high accuracy. Our solution relies on state of the art technology and AI that analyzes historical data to predict future demand and pricing plans, generating results on an item/location level and covers the remaining season lifecycle of your merchandise for generating optimal price change recommendations..
By using our unique deployment approach and calculation methods, our markdown profit maximizer service is fast and cost effective to initiate, therefore, besides the obvious benefits, it can be utilized to generate predictions frequently, and quickly, reacting to the fluctuations of the market with lightning speed. To start, our experts will work with your team to exchange information related to your business in order to create an initial service offering tailored to your needs and context. Typically we can set up our markdown profit maximizer service in 4-6 weeks.
Choosing our solution enables maximized profitability and optimized inventory level, while increasing retailers’ agility to face constantly evolving consumer demands and environment.