Markdowns Cost Retailers $300 Billion Last Year

Non-grocery retailers last year missed out on $300 billion in revenues — in the aggregate 12% of total sales — due to markdowns, according to research from retail think tank Coresight and inventory optimization firm Celect. In the survey of more than 200 “senior retail decision makers,” those responding pinned the blame for more than half (53%) of unplanned markdowns on “inventory misjudgments.” Multichannel retailers were less likely to sell off their inventory at full price, according to the report, “Revealing the Hidden Costs of Poor Inventory Management.” Read more at Retail Dive.