Retail rivals realizing the value of e-commerce
It appears the retail world’s need for technology has caught up with its need for fashion as 2013 has been highlighted by many retailers updating their sales platforms by going online and mobile. The latest do so are TJ Maxx and Saks’ Off Fifth — the luxury retailer’s outlet store.
That’s not to say that the move to e-commerce has been easy. Retail is chaotic, and inventory management can be tricky. For chain retailers offering clearance items, last-year’s fashion, and overrun merchandise — like Saks Off Fifth and TJ Maxx — it can be even more so. Unpredictable, fast-moving inventory can exponentially complicate selling goods via the web. TJ Maxx demonstrated this by its first attempt at e-commerce in 2005 that it quickly abandoned and left the company $15 million in the hole.
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