Retail Sales and Inventory Reporting Blog

Retail Blog

Need to Know’s, How-To’s, and more Information from the Experts at ERS.

By Jim Lewis, CEO Enhanced Retail Solutions LLC The concept of key items comes up with just about every interaction we have with a retailer or supplier.  They may have different terms for them, but they […]
By Jim Lewis, CEO Enhanced Retail Solutions LLC I was an assistant buyer at JCPenney when they made the move from de-centralized to centralized buying. The buying team knew it would make things so much easier […]
By Jim Lewis, CEO Enhanced Retail Solutions LLC Our superpower is studying sales and inventory at store level by SKU. Our goal is determining the optimal inventory required to generate the maximum rate of sale. With […]
By Jim Lewis, CEO Enhanced Retail Solutions LLC For many years we have worked with clients and brands that sell the same SKUs to multiple retail outlets. They share a common inventory which can make anticipating […]
By Jim Lewis, CEO Enhanced Retail Solutions LLC At a recent lecture at the University of Florida I provided a very brief introduction to retail analytics. The advancement of technology over the last 20 years has […]
By Jim Lewis, CEO Enhanced Retail Solutions LLC There is constant chatter right now about inflation and price increases at every level of retail and wholesale. What inventory planners really want to know is how it […]
By Jim Lewis, CEO Enhanced Retail Solutions LLC One of the key reasons wholesalers come to us is because they want to get more actionable information from their POS reporting. Their team spends hours and days […]
By Jim Lewis, CEO Enhanced Retail Solutions LLC Welcome to the final part in our “Pillars of Success” blog series. Data science is a hot topic and its influence in the retail industry is no exception. […]
By Jim Lewis, CEO Enhanced Retail Solutions LLC Welcome to part 3 in our “Pillars of Success” blog series. Financial planning is essential not only to determine the funding required to run the business, but for […]
By Jim Lewis, CEO Enhanced Retail Solutions LLC What is fundamentally required to be successful at retail today? The great merchants of yesteryear would tell you all you need is great product. Knowing your consumer and […]
By Jim Lewis, CEO Enhanced Retail Solutions LLC As I mentioned in my last blog, I really enjoy watching the numbers this time of year. The last 2 weeks have not been disappointing. I noticed more […]
By Jim Lewis, CEO Enhanced Retail Solutions LLC While lines for covid tests may be longer than lines at cash registers right now, there is still a lot to be thankful for. In the face of […]
By Jim Lewis, CEO Enhanced Retail Solutions LLC I really enjoy tracking sales this time of year. Besides all the numbers getting larger, there’s always an item or two that does far greater than anyone expected. […]
By Jim Lewis, CEO Enhanced Retail Solutions LLC During the holiday season, the conversations of how business will be this year versus last year are plentiful. One camp says compare this year to 2019. Another camp […]
By Jim Lewis, CEO Enhanced Retail Solutions LLC At a recent webinar I attended, several retail investment researchers talked about their predictions for holiday 2021. Overall, they were bullish, and I don’t disagree. On top of […]
By Jim Lewis, CEO Enhanced Retail Solutions LLC In this retail environment, many consumers have become retailer-agnostic. They don’t really care what the outlet is- they just want whatever it is they want. They know the […]
By Jim Lewis, CEO Enhanced Retail Solutions LLC Why A Career In Retailing? At a recent trip to the University of Florida, my alma mater, a student asked me why I picked a career in retailing. […]
By Josh Coughlin, CTO Enhanced Retail Solutions We all spend an extraordinary amount of time talking, thinking, dreaming, etc. about inventory.  Every business that sells a physical product must think about inventory.  If you don’t have […]
By Jim Lewis, CEO By Invitation Only We all know they are smart. And they just keep getting smarter. Don’t know what demand will be for an item? Just make it “invitation only” and don’t list any […]
By Jim Lewis, CEO Empty Shelves Everyone is so concerned about the emptiness of their shelves right now that they may be forgetting that lead times are getting longer and longer. If they want any chance […]
By Olivia Drexler Working From Home For the past 17 months, my college routine at the University of Florida has consisted of online lectures, masks, and an empty campus. While we have made a lot of […]
By Jim Lewis, CEO Recently we have received an uptick in inquiries regarding assortment planning. That usually happens when an inventory problem arises, not because someone is looking for fresh product. They go into analysis mode […]
By Olivia Drexler, ERS Intern Where Current Analytics Fall Short Navigating the performance of a retail business can be difficult when there are so many data sources to keep track of and act upon. The most […]
By Olivia Drexler, ERS Intern Inventory is an Investment The most productive retail businesses understand that inventory is an investment. Inventory is money, but only when it is generating sales. Oftentimes, businesses find themselves in a […]
By Jim Lewis, CEO Receipt (ladder) planning is more relevant than ever before. It is a weekly plan for sales, inventory and profitability. Based on actual trends, the original plans get revised. It has always been […]
By Olivia Drexler, ERS Intern The Importance of Competitive Shopping: As the world begins to move out of the pandemic, competitive shopping is critical for retailers, brands, and suppliers to maintain successful businesses. As storefronts reopen, […]
By James Lewis, CEO 19 years ago, I left a very fulfilling career with JC Penney and embarked into the great unknown of starting up a new business. Armed with confidence, a very supportive wife, and […]
By Josh Coughlin, CTO Welcome to part 3 of this series in which I share episodes from my days working at a manufacturer. In the last blog I wrote how acting early on poor performing items […]
By Jim Lewis, CEO Enhanced Retail Solutions One of the most common project requests we get is integrating 3rd party information or research with a client’s POS data and forecast. For example, a client who manufactures […]
By Josh Coughlin, CTO, Enhanced Retail Solutions LLC As I share episodes from my career in this blog, this post takes us back to my time working at a manufacturer.  Something a designer said sticks out […]
By Josh Coughlin, CTO Enhanced Retail Solutions LLC As David Matsil use to say in one form or another at every meeting, “It is all about the inventory”.  The exact wording would change, but the sentiment […]
By Jim Lewis, CEO Enhanced Retail Solutions LLC It is hard to believe that a good portion of 2021 is already behind us. Of course, that depends on what seasonal sales curve you live your life […]
By Josh Coughlin, CTO   Working with- and for- manufacturers I have learned one universal truth.  It does not matter what you make (T-Shirts, Phone Cases, Pillows, etc.): every critical business function is done in Excel.  […]
By Jim Lewis, CEO Enhanced Retail Solutions LLC There was news this week you may not have noticed: the 2020 census data is in. Aside from it being used as a political blame game, this data […]
By Jim Lewis, CEO Enhanced Retail Solutions LLC It seems every retail re-invention comes with a plethora of new exclusive private brands. Bed Bath & Beyond and JC Penney are just two of the latest to […]
By Jim Lewis, CEO Enhanced Retail Solutions LLC Many of our clients are sharing the frustration and anxiety that looms over all points of their delivery infrastructure. Getting factories to commit to production dates, booking vessels […]
By Jim Lewis, CEO Enhanced Retail Solutions LLC A common challenge with forecasting over the last 12 months has been what to use as a baseline. The answer varies greatly by product category and retail distribution. […]
By Jim Lewis, CEO Enhanced Retail Solutions LLC If you think for one minute Jeff Bezos is stepping away from Amazon you haven’t been paying attention. Most CEO- Founders of his tenure often move upwardly sideways- […]
By Jim Lewis, CEO Enhanced Retail Solutions LLC While we tend to focus on more forward-looking analytics, part of our discipline of planning schedule includes conducting a year-end review of each retail account. While most of […]
Despite the tragedy that was 2020, the ERS customer base experienced a 16% increase in sales year over year*. That’s not to say everyone saw an increase, but strong gains in Home Textiles, Home Decor, Small […]
By Jim Lewis, CEO Enhanced Retail Solutions LLC Manufacturers, licensors and distributors who are looking to gain more insight from point of sale (POS) data face the challenge of determining what data they need, how to […]
By Jim Lewis, CEO Enhanced Retail Solutions LLC Distributors are marvels at moving inventory through the supply chain. They have invested heavily in systems and logic to make that happen. But they have trailed manufacturers and […]
By Adina Deutsch, ERS Intern Since March, my college routine has been rather mundane – wake up, attend lectures online, do schoolwork, and repeat. I predicted this would stay the same until next year when COVID-19 […]
By Adina Deutsch, ERS Intern The Importance of Reporting Navigating the performance of a retail or wholesale business can be difficult with so many disparate data sources to keep track of and act upon. A good […]
By Jim Lewis, CEO Enhanced Retail Solutions LLC In the world of planning most of us analyze our business and forecast using weekly sales and inventory data. In most cases that makes sense. But recently we’ve […]