Business Insider: 7 tactics experts say retailers will use to manage excess inventory and attempt to stay afloat during the coronavirus
Story originally appeared in Business Insider on April 19, 2020. Excerpts from the story below. To see the full story visit BusinessInsider.com.
JoAnn Martin, vice president of industry strategy and market development at Blue Yonder, echoed Kodali and said retailers are likely to stow away timeless inventory for next year. By doing this, they can focus their resources on clearing out excess seasonal items.
“One of the major themes I am hearing is the resurgence of pack and hold inventory,” Martin said. “Retailers are determining iconic or basic product or timeless product and choosing to pack and hold the product to reflow next year. This has been taboo, but has definitely been a strong conversation among softline retailers.”