22 Aug FUTURE TRENDS IN RETAIL, ACCORDING TO BESTSELLING CLOSEOUTS KEYNOTE SPEAKER
According to the best closeout keynote speakers and retail futurists, many common themes run through live and virtual presentations or talks. Case in point:
- Industry overview and trends – Size of the closeout retail market, growth trends, consumer behaviors and profiles. Rise of online shopping from a closeout keynote speaker’s standpoint.
- Sourcing and buying – Finding opportunistic inventory domestically and overseas. Building relationships with suppliers and manufacturers. Due diligence on closeout deals.
- Inventory management – Forecasting demand, turnover rates and restocking challenges. Managing seasonality. Omnichannel distribution and fulfillment with a closeout keynote speaker’s tips on selling. Avoiding stockouts or overstocks.
- Pricing and promotions – Strategic pricing tactics, markdowns and discounts to drive sales. Promoting value perceptions.
- Store operations – Displaying and organizing a frequently changing inventory. Offering a “treasure hunt” experience. Managing customer service.
- Marketing and positioning – Communicating the thrill of the hunt as a closeout keynote speaker or industry professional. Targeted digital marketing to drive store traffic. Brand building for closeout retailers.
- Competition – Differentiation from discounters, dollar stores, outlet malls and online retailers. Competing on brand experience.
- Logistics and distribution – Keeping costs low. Quick inventory turns. Shipment tracking and visibility. Optimizing delivery times.
- Risk management – Mitigating risks like excess inventory, carrying costs, merchandise defects, and stock obsolescence.
- Financial benchmarks – Key performance indicators from a closeout keynote speaker’s viewpoint like inventory turnover, gross margins, cash flow. Benchmarking against industry standards.
- Omnichannel strategies – Leveraging websites, mobile apps and order fulfillment options to supplement physical stores.