For retailers this summer, the background is inventory

Here's some encouraging news for resellers:

According to the National Retail Federation, April retail sales (excluding restaurants, gas stations and cars) increased seasonally adjusted 0.6 per cent compared to last month, and have increased 3.9 percent on year-on-year. NRF attributes the rise to improved employment data last month, housing prices and a record bag.

Of course, whenever such results make headlines, experienced retailers know respond with only cautious optimism. They always counter sales positive relations with two questions:

1. the increases continue? and,

2. If they do, it will be ready?

No one can answer the first question with absolute certainty. You'd need a crystal ball.

Fortunately, however, more and more retailers are finding that an answer to the second question is to reach, and that is turning their attention in confidence.

You see, it is only natural for dealers to be worried obsessed with stock levels. The flow of product inventory is the lifeblood of any retail business. Is what keeps them at night. Is the background of success.

But now, retailers can take the guesswork out of inventory. Can use analytics to better forecast product needs, optimize inventory flow and replenish according customer shopping patterns. In fact, we just announced an advanced solution that makes these processes not only possible, but easier than ever.

And the timing for this technology could not be better. In today's challenging economy, retailers have little margin for error. In addition, they are doing is a priority for improving the customer experience to be more in tune with customer preferences.

According to the fifth annual report to Benchmark Merchandising Retail Systems Research (RSR), which provides insight into business and technology challenges facing the retail sector extended: "Out-of-stock and inventory performance remain top-of-mind (especially for large retailers and those who sell goods), the concerns of retailers about understanding customer preferences and their ability to meet those preferences with new ideas on pricing and promotions-have become their top business challenges."

What retailers can do to become more responsive to consumer demand? RSR suggests these four actions:

Get predictive.Use modern methods of forecast for discover insights customer purchase behaviors and preferences.

Get the reagent. Feedback is essential. When you have access to real-time information, you can automatically respond to trends.

Get automated.You need the right tool for the right job. The inventory and warehouse environments today require large amounts of data for analysis and automated technology.

Get science.Intuition and gut feelings only get you so far. Now retailers need to make data-driven decisions in order to remain competitive in the global marketplace.

I would suggest another:

Go ahead.It's time to update your strategies. Don't worry: you don't have to boil the ocean. But, you need to get started.

Consumer confidence continues to rise in the coming months? NRF is forecast to increase moderate retail sales throughout the summer.  In both cases, you'll want to be ready.

-Darryl