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7 tactics retailers can use to manage inventory amid coronavirus, - Business Insider


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SOURCE: http://www.businessinsider.com/7-tactics-retailers-can-use-to-manage-inventory-amid-coronavirus-2020-4
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Summary

Experts said that as stores remain closed, retailers will continue to focus on selling products online in the interim, even if e-commerce accounts for just a fraction of the sales of most traditional retailer companies."If [reopening stores] is not an option as we continue to move through the pandemic, brands could consider flash sales, given seasonality, or leverage calendar events like Mother's Day or Memorial Day to bundle or discount inventory," Olivier Schott, chief marketing officer at the digital commerce platform Scalefast, told Business Insider. "They are trying to push product through online, and it will shift the channel fulfillment strategies."As stay-at-home mandates and store closures are extended, experts said to anticipate an increase of bankruptcies and liquidation sales for some of the most beleaguered retailers."If the lockdown holds through May and into June, or we ease restrictions only to see a bounce in cases that leads right back to new restrictions, then we really will see the loss of an entire season," Jim Hull, senior director of industry and strategy at Blue Yonder, told Business Insider.

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