NRF recently released its inaugural Retail Holiday Planning Playbook as a guide to help retailers address key questions and issues around the upcoming holiday season. The 2014 holiday season rang up a hefty $616.1 billion in U.S. sales, 4 percent more than the previous year. As such, it’s little surprise that retailers start planning early; last year, more than half of retailers surveyed kicked off their holiday planning in June or earlier.
With Holiday 2014 still fresh in our minds, NRF asked CIOs, CMOs, Loss Prevention, Digital Commerce and Supply Chain executives two questions: What did they learn during Holiday 2014 that they want to change this year, and in what areas are they investing this year to improve holiday operations and results?
Several themes emerged, including the customer’s digital and in-store (or “omnichannel”) experience and the continued evolution of marketing and promotions –– including how mobile increasingly impacts both. Additionally, retailers are tackling operational issues such as consumers’ rising expectations for fast, flexible fulfillment and customer service, as well as adroitly managing the supply chain.
One of the considerations for 2015 is how the move to omnichannel is challenging assortment level allocations. As retailers are increasingly leveraging store inventory to fulfill online orders, old allocation models are often proving inadequate. This is an area where JustEnough is already helping retailers. Our strategic Allocation solution is helping retailers to plan, allocate and replenish inventory across all their channels while at the same time dealing with today’s flexible fulfillment options. Please contact us if you would like learn more about how JustEnough can help you address these challenges.
Check out the full NRF 2015 Retail Holiday Planning Playbook here.