Retail Insights Newsletter
February 2022
The New Normal is Adaptability
The new normal is “adaptability.” I was thinking about how to best make the case to adjust to new conditions and realized I am preaching to the choir. Everyone reading this blog has been adapting rigorously since the beginning of 2020. What did occur to me is with inflation and The War in the Ukraine unfolding, that the new normal is how well we adapt to changing conditions and what we can do to be in control to better manage our own outcomes.
I recently had a conversation with Ilse Metchek, President of the California Fashion Association, and here is a recap of our conversation. Ilse had some very pragmatic advice.
It is refreshing to see positive results from retailers who are charging ahead in the new retail environment.
Not able to make it to MAGIC in Las Vegas this year? Maybe you made the trek out, but missed our presentation in the West Hall? Either way, you’re in luck- we recorded it for you!
Despite the turbulence, 2021 was a good year for most fashion retailers. But how should retailers approach 2022 to win? Inflation is driving up the cost of purchases. Supply chain issues are improving, but not resolved. Employees are demanding higher pay. The outlook for consumer demand could change as excess savings dissipate and government stimulus fades. And the bar for competing digitally continues to get higher.
Listen to Dane Cohen present to a packed house in Las Vegas as he outlines key strategies that will help retailers build a solid framework around their inventory purchases, keep cash flow positive, and succeed in a changing environment.
"How an English Major Became an E-Commerce GIANT"
Catch this week’s podcast and learn how Simon Trafford, owner at Social Lite Communications, has taken his craft to a level we all aspire to in e-commerce retail.
Simon and his team lead and teach Shopify store owners grow sustainably with Facebook, Instagram, Google and YouTube advertising, email marketing, and offer strategies at every stage of the customer journey – acquisition, ascension, and retention.
During our exclusive cocktail party at MAGIC, we were joined by many retailers and strategic partners including our friends at FAVES. Mike Alic, President of Management One used his opening presentation to announce the eagerly anticipated launch of a technical and business partnership to better serve our shared customer base in independent retail.
As a result of feedback from independent retailers who use both services, we are happy to announce that starting in Q2 2022, all FAVES customers who are also Management One Ltd customers will be able to view their open-to-buy budgets generated by the M1 leading inventory planning service, directly into the FAVES Pro app.
Although some joint retail clients have already configured their FAVES Pro app to work with their Management One plans on their own, this new integration removes any manual steps and unifies the power of each tool.
"Brands may need retailers more than they realize"
-Retail Dive FEBRUARY 22, 2022
The digital disruption of the past couple of decades has been a challenge for traditional retailers like mass merchants and department stores, not just because online upstarts emerged as competitors, but also because brands could more easily bypass them in order to sell directly to consumers.
There are financial and marketing arguments in favor of this idea, but recent research throws them into question.
“Show Me A Good Loser”
-MR Magazine FEBRUARY 10, 2022
“Show me a good loser and I’ll show you a loser.” Those words, most often attributed to legendary Green Bay Packer coach Vince Lombardi, have unfortunately become the iconic default cliché used by some professional athletes and coaches to justify post-game tantrums. Readers might be interested to learn that the original version of the “Loser” saying is actually credited to Knute Rockne, the famous Notre Dame football coach who died in 1931.
"5 Reasons Omnichannel Order Fulfillment is About More Than Just Speed"
-Retail Minded FEBRUARY 24, 2022
As e-commerce continues to boom, it has reinforced the need for retail brands to strengthen their online fulfillment and shorten click-to-customer cycle times. This has arguably become the single greatest influence on the shape of future omnichannel offerings and processes – ultimately making convenience, not just speed, the driving factors for commerce.
“Understanding First- vs. Zero-Party Data and the Power of Owned Data”
-Total Retail FEBRUARY 23, 2022
Facebook made its name in advertising from extensive customer tracking, immense third-party data aggregation, and a powerful algorithm that behaved as a magic money machine for e-commerce merchants. Many brands put money in, acquired tons of customers, and saw massive growth. Not anymore.
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