Reports on the footwear industry published in the first quarter of 2019 by Euromonitor International affirm the growth in the footwear market. Based on their research, the main driver is the health and wellness trend across the globe. Consumers are increasingly buying comfortable footwear with fashion items which can be worn both at work and in their leisure time.
In order to benefit from this growth in an increasingly competitive landscape, it is key for footwear retails to overcome inventory challenges such as
- Efficiently planning localized assortments that achieve financial targets
- Accurately forecasting demand and proactively replenishing stock
- Allocating products to the optimal channels and stores
- Incorporating customer preferences and historical data into the planning process
Product availability is of the upmost importance to customers, whether they shop online or in-store. Retailers should therefore be able to offer a variety of fulfillment methods, including Buy Online, Pick up in Store (BOPIS), Buy in Store, Ship to Home (BISSTH), or Buy Online, Return in Store (BORIS).
Our Retail Demand Management Buyer’s Guide addresses the challenges of merchandise planning and how to overcome them effectively. It explains how a unified, modern platform can help you optimize your inventory to achieve your organizational and financial goals. It all starts with automation. To gain new levels of efficiency, retailers must focus on three key areas: clustering, dynamic re-allocation, and customer-optimized inventory.