The Martec Minute - 2024

Welcome to the Martec Minute - All You Can Learn in 60 seconds
21st March 2024

Welcome to the Martec Minute - All You Can Learn in 60 seconds

Welcome to the Martec Minute. This is an article that we regulary publish on a topic of interest to those working in the retail and consumer...
Are Your Promotions Driving the Right Customer Behavior?
20th December 2024

Are Your Promotions Driving the Right Customer Behavior?

When planning promotions, where should you focus your efforts for the best results? It all comes down to the “Good, Better, Best”...
How Efficient Is Your Inventory Turnover?
13th December 2024

How Efficient Is Your Inventory Turnover?

We analyzed data from 28 UK-based fashion retailers, revealing some fascinating insights: Inventory Turn vs. Annual Sales Most fashion...
Using forecasting tools to keep up with the fast pace of fashion retail
6th December 2024

Using forecasting tools to keep up with the fast pace of fashion retail

In an industry where trends shift in the blink of an eye, weekly performance reviews are essential to stay ahead. By Monday morning, your sales,...
Today is the Day: How Did Black Friday Get Its Name?
29th November 2024

Today is the Day: How Did Black Friday Get Its Name?

It’s Black Friday, the shopping phenomenon that has people waking up at dawn, braving long queues, and scrambling to snag those unbeatable...
Are you Focusing on the Customers who Truly Matter?
22nd November 2024

Are you Focusing on the Customers who Truly Matter?

Did you know that the top 30% of your customers often account for 77% of your sales? While this example comes from grocery retail, it’s...
5 Easy (But Overlooked) Ways to Reduce Safety Stock in Retail
15th November 2024

5 Easy (But Overlooked) Ways to Reduce Safety Stock in Retail

Maintaining optimal safety stock levels is crucial for balancing customer satisfaction with cost efficiency. Drawing from our extensive experience...
Boost Your Sales with the Good Best Better Strategy
8th November 2024

Boost Your Sales with the Good Best Better Strategy

Crafting the ideal product assortment requires a strategic balance of various factors. A proven approach is the Good, Better, Best strategy –...
Maximizing Retail Allocation & Replenishment: 5 Tips for Staying Ahead
1st November 2024

Maximizing Retail Allocation & Replenishment: 5 Tips for Staying Ahead

Allocation and replenishment are crucial to meeting customer demand and avoiding stockouts—there’s still a lot you can do to optimize...
Why Nearshoring and Reshoring are on the rise?
25th October 2024

Why Nearshoring and Reshoring are on the rise?

The world of manufacturing is changing. Amongst others, consumer packaged goods companies and retailers are starting to bring production back...
Data-Driven Talent Planning & Personalized Training
18th October 2024

Data-Driven Talent Planning & Personalized Training

Let's see how data and personalized training can take your talent strategy to the next level! The foundation of a successful talent plan...
Planning Your Future Talent Needs
11th October 2024

Planning Your Future Talent Needs

As a retailer, have you ever found yourself scrambling to fill key roles due to unexpected turnover? It's a common challenge, but one that...
Tackling Social Commerce Challenges in Retail
4th October 2024

Tackling Social Commerce Challenges in Retail

Last week, we explored how social commerce is taking the retail world by storm, making it easier than ever to shop with just a few taps. But...
Sales Growth through Social Media
27th September 2024

Sales Growth through Social Media

My colleague was just scrolling through Facebook the other day, and it hit me—shopping has become so effortless on social media. From...
The Marketplace Revolution is Here
13th September 2024

The Marketplace Revolution is Here

Marketplaces have taken the e-commerce world by storm, and consumer goods companies and retailers are joining the revolution. Did you know that...
Eye Level is Buy Level
6th September 2024

Eye Level is Buy Level

Making life easy for shoppers is one of the most effective ways to encourage sales and grow store gross profit. Most shoppers will often not...
The Power of Planning & Forecasting in Retail
30th August 2024

The Power of Planning & Forecasting in Retail

"No plan survives first contact with the enemy," said military strategist Helmuth von Moltke. So why bother planning at all? Here's...
Omni-Channel Retail Strategies
23rd August 2024

Omni-Channel Retail Strategies

In today's digital age, you might think online shopping dominates. But here's a revelation that challenges this assumption: Up to...
Real-Time Isn’t Always Necessary: Rethink Your Retail Needs
16th August 2024

Real-Time Isn’t Always Necessary: Rethink Your Retail Needs

We often hear about the "need" to migrate to real-time processes for better business outcomes. But is real-time always the best move?...
The Power of Inspiration to Drive In-Store Sales
12th August 2024

The Power of Inspiration to Drive In-Store Sales

While many predicted the demise of physical stores in the face of e-commerce, a fascinating trend is emerging post-pandemic: stores are making...
Loyalty Programs: Retention vs True Customer Loyalty
2nd August 2024

Loyalty Programs: Retention vs True Customer Loyalty

In the world of retail, we have long celebrated the power of loyalty programs. But it's time we face an uncomfortable truth: these programs...
Consumer Goods Companies - Do You Want To Grow Your Retail Business ?
26th July 2024

Consumer Goods Companies - Do You Want To Grow Your Retail Business ?

Are your Consumer Goods Account Managers (AMs) struggling to close deals with retail buyers? Let's uncover the hidden barriers: Positioning...
Will Supply Chain Challenges Worsen Over Time ?
19th July 2024

Will Supply Chain Challenges Worsen Over Time ?

Recent news paints a bleaker picture for supply chains. This week the Houthi rebels released a video of a ship being hit in the Red Sea again...
Optimizing Selling Space for New Retail Stores
12th July 2024

Optimizing Selling Space for New Retail Stores

Optimizing selling space deployment is especially critical in new stores to get them off to a good start, but it’s more difficult because...
Upskilling The Business for Better Merchandising Decisions
5th July 2024

Upskilling The Business for Better Merchandising Decisions

Let’s imagine you are a retail merchandiser. Your buyer is introducing a new flavoured pink gin. Calculate the quantity the buyer needs...
If in Doubt, Go Back to Basics
28th June 2024

If in Doubt, Go Back to Basics

My wife and I spent some time in a store of a well-known brand. My wife found two dresses that she really liked. The store stock included the...
Customer Segmentation: Essential for Retail Success
21st June 2024

Customer Segmentation: Essential for Retail Success

Very few retailers understand how to fully use customer segmentation to improve trading. Martec recommends lifestyle segmentation over demographic...
Generative AI - a Costly Process?
14th June 2024

Generative AI - a Costly Process?

I read two articles recently that are eye opening. If you are interested in AI and how it is progressing, you should be aware of these. You...
All Retail Management Should Know This
7th June 2024

All Retail Management Should Know This

A recent white paper from Robling gave some very good advice on how to improve retail management in a recession, it’s worth a read. However,...
Are Retailers Getting the Customer Service Message?
31st May 2024

Are Retailers Getting the Customer Service Message?

Several studies published recently by organisations like RSR (Retail Systems Research) and the IGD (Institute of Grocery Distribution) highlight...
Sourcing Diversification
24th May 2024

Sourcing Diversification

In a recent survey, 53% of retailers were looking at expanding their supplier base to mitigate risks associated with supply chain disruption....
AI & Investment Priorities in Retail and Consumer Goods
17th May 2024

AI & Investment Priorities in Retail and Consumer Goods

A recent survey of retailers and consumer goods companies by Relex, and reported by Chain Store Age this April, showed 57% of these companies...
AI in Retail: Trends, Challenges & Applications
13th May 2024

AI in Retail: Trends, Challenges & Applications

AI is increasingly deployed in the retail industry in 8 main areas, namely: Personalized marketing Customer service Inventory management Dynamic...
Upskill People to Drive Selling Space Productivity
3rd May 2024

Upskill People to Drive Selling Space Productivity

The cost of selling space, also known as occupancy cost, is a major cost factor in retailing, second only to people costs in most companies....
Optimizing Selling Space: Boost Retail Profits
26th April 2024

Optimizing Selling Space: Boost Retail Profits

Selling space is one of the most expensive assets retailers have after payroll. Hence it is vital to optimize space productivity as much as...
Disaster Recovery - Think Wider!
19th April 2024

Disaster Recovery - Think Wider!

In 2019 economic losses from 409 natural disasters exceeded $232 billion. But it isn’t just natural disasters that we have to worry about....
Omni-Channel Retailing Scores Higher Than Online Only Retailing
12th April 2024

Omni-Channel Retailing Scores Higher Than Online Only Retailing

A recent US study by ICSC called The Halo Effect III examined store and online sales for 69 retailers and 2,103 individual stores. The findings...
Maximizing Sales: The Formula for Retail Growth
5th April 2024

Maximizing Sales: The Formula for Retail Growth

There is a tried and tested formula for planning store sales. Here’s Martec’s extended version to include online. Sales =...
Advanced Payment Systems Revolutionizing Retail Transactions
29th March 2024

Advanced Payment Systems Revolutionizing Retail Transactions

Payment systems are advancing faster in Europe than the US. Contactless payment is more widely adopted in Europe, as is advances in open banking....
E-Commerce Fulfillment Trends: Insights from IHL & RIS
22nd March 2024

E-Commerce Fulfillment Trends: Insights from IHL & RIS

Some interesting E-Commerce statistics from a recent survey by IHL Consulting and RIS News. The chart shows the share of retail sales taken by...
Direct to Consumer Companies Opening Stores
15th March 2024

Direct to Consumer Companies Opening Stores

A recent US study by ICSC called The Halo Effect III examined store and online sales for 69 retailers and 2,103 individual stores. The findings...
Imports Via the Panama and Suez Canals Face More Trouble
8th March 2024

Imports Via the Panama and Suez Canals Face More Trouble

The risk to inventory availability due to shipping problems continues to be challenging. Historically, the Panama Canal averaged 38 ship transits...
Computer Vision Is Coming of Age
3rd March 2024

Computer Vision Is Coming of Age

Computer Vision is coming of age thanks to AI. There are applications now to detect attempted thefts in store. AI applications can alert the...
Challenges for Retailers Selling to Younger Consumers
23rd February 2024

Challenges for Retailers Selling to Younger Consumers

There are increasingly mixed views about self-checkout in stores. Many retailers are rolling out more self-checkout, but some are taking them...
Return Fraud Keeps Growing
9th February 2024

Return Fraud Keeps Growing

NRF also released data on returns fraud from a survey by Apriss retail. Key types of return fraud are: - Returns of used, non-defective merchandising,...
More on Returns
2nd February 2024

More on Returns

NRF has estimated that returns from US online sales totalled $247bn in 2023, 17.6% of total online orders. Total returns across all channels...
The Height of Madness
26th January 2024

The Height of Madness

A recent survey published by IDC and sponsored by Sensomatic, said that 53% of European consumers surveyed would choose to shop elsewhere, if...
What Keeps CEO's Up At Night
26th January 2024

What Keeps CEO's Up At Night

A survey of 1200 global executives including 630 CEOs summarised recently by Chain Store Age showed most US CEOs are worried about recession...
Estimating Demand for Something You Have Never Sold
17th January 2024

Estimating Demand for Something You Have Never Sold

When bringing in new items, how can you improve your estimate of demand for purchasing? When you create a new product in your system, define...
End of Season/End of Year Issues
5th January 2024

End of Season/End of Year Issues

Most retailers are approaching the end of their financial year (end January). By now, the end of season sale will be in full swing and every...