Spring 2019 - Inside Outdoor Magazine

Inside Outdoor | SPRING 2019 21 Buyer’s Side Weiss, president of Management-One. I see examples such as this all the time. Some stores choose to take ad- vantage of the help they are offered and regain control of their stores and, by extension, their lives. Others un- fortunately do not and almost always suffer the consequences. I often refer to the old definition of insanity, which is repeating the same behavior time and time again in anticipation of a more favorable outcome. Since roughly 60 percent of non- grocery items were sold at full price in 2018, resulting in an estimated $300 billion in lost revenues, it is easy to deduce that poor buying decisions can be expensive. The good news, however, is that with the increased utilization of technology, specifically better forecasting tools that leverage machine learning, can help retailers know what to keep in stock and when. As trite as it may sound, failing to plan is planning to fail. m Ritchie Sayner is the founder of Ad- vanced Retail Strategies, LLC, an affili- ate of Management-One, a merchan- dise planning company that incorpo- rates machine learning into its process. His book “Retail Revelations: Strategies for Improving Sales, Margins, and Turnover” is available on Amazon. He can be reached through the website www.advancedretailstrategies.com. Share of Respondent’s Total Inventory Sold at Full Price, Among U.S. Retailers Source: Coresight Research; Celect 90% to 100% 80% to 89% 70% to 79% 60% to 69% 50% to 59% 40% to 49% 30% to 39% 20% to 29% 10% to 19% 0% to 9% 15.0% 18.0% 16.5% 12.5% 8.0% 7.0% 3.5% 5.0% 2.5% 4.0% Source: M Print Broad Email Social Direct Mobil Mobil YouTu PR/E 5. 5. 2 Source: Euromon 2000 EMBRACE THE PRESSURE cepcompression.com THE NEW CEP 3.0 COMPRESSION SOCKS ARE HERE Advanced CEP compression delivers more oxygen to your muscles to increase energy, improve endurance, accelerate recovery. With a new anatomical fit and the latest bioactive yarns, CEP turns pressure into a positive.