Learn How To Thrive in the New Target World
Expectations are being dramatically shifted at Target that will require its suppliers to work differently to become better aligned with various operating priorities and changes in the business mix. SOLYS™ users are invited to start their day on December 17, learning firsthand from Bryan Carlson and John Zapfel, two former multiple-positioned Target buyers recently hired by LumiData, how the new Target transformation will impact planning for 2015—and how to leverage SOLYS to execute on their plans.
New SOLYS Features
The Black Friday numbers are in. The Cleveland Plain Dealer reports that shoppers hitting stores and websites between Thanksgiving and the following Sunday were down 5.2 percent which resulted in an 11 percent decrease in sales. Michael Shay, president and CEO of the National Retail Federation, says retailers are still incredibly optimistic and that the retail federation is sticking by its earlier forecast that holiday sales will grow 4.1 percent this season.
10.29.14Spine-chilling Inventory Issues?
With Halloween just around the corner, retail stores are filled with goblins, ghosts and ghouls, but there’s a really frightening specter lurking out of sight in many stores — phantom inventory — goods that retail inventory accounting systems consider to be on hand, but actually do not exist. There are many explanations for this ghost-like inventory—items being moved without recording changes in inventory systems, theft and check out and data entry errors, just to name a few. But no matter the reason, the resulting discrepancy is completely unnerving.
Over the past few years we’ve seen a lot of big box retailers test and establish many different store concepts—concepts like Target’s Target Express, City Target and P Fresh and Wal-Mart’s Wal-Mart To Go, Wal-Mart Express and Neighborhood Markets. These “smaller box” store formats help retailers gain millions of square footage in city center selling spaces and provide customers with quick shopping experiences that offer fewer product categories than the big box stores.