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How can Shoe Stores Improve their Inventory Management
SOLUM Electronic Shelf Labels can help shoe stores improve their retail inventory management because of the ESL's many useful features.
Inventory management is vital in running a shoe store. It helps in the overall workflow of businesses and also enhances the customer experience. Retail inventory management ensures that your store has what your target market is looking for.
In this article, we will discuss how shoe stores can improve their inventory management.
Regularly monitor stock levels
One big mistake any shoe store owner can make is not being able to monitor stock levels. One report shows that 46% of the respondents don't have a retail inventory management system. Some prefer manual methods while others don't do any tracking at all.
This is basic and when done right, can help make a seamless workflow for your shoe store.
Leverage the data you have
Data is an important element of a robust retail management system. Most of the steps of a product lifestyle can be monitored and assessed. This gives shoe store owners to create marketing strategies based on demand, consumer behavior, and trends.
Utilize the right system
As mentioned, monitoring stock counts is crucial for show stores. Doing this can be easier said than done but there are systems that can help in this process. Newton labels are ideal for this purpose. They're not just for price display, they can also show stock levels to help store associates with replenishment.
Want to learn more about tools you can use for inventory management? Get in touch with us.