Market Insight - Brightpearl Retail-tailored Digital Operations Platform Tue, 10 Jun 2025 09:17:11 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.2 https://www.brightpearl.com/wp-content/uploads/2024/02/cropped-brightpearl-favicon-32x32.png Market Insight - Brightpearl 32 32 OEM vs. ODM: What’s the Difference and Which is Right for Your Business? https://www.brightpearl.com/blog/oem-vs-odm-explained Tue, 27 May 2025 09:00:23 +0000 https://www.brightpearl.com/?p=9933 Launching a new product is exciting, but choosing the right manufacturing partner can make or break your success. If you’ve ever wondered whether an OEM or ODM is the better fit, you’re not alone. Unlike original brand manufacturers who handle end-to-end production, these manufacturing business models involve outsourcing and have significant differences in cost, design […]

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]]> Understanding Process Costing: How It Works and Why It Matters https://www.brightpearl.com/blog/process-costing Wed, 21 May 2025 20:30:21 +0000 https://www.brightpearl.com/?p=9900 Process costing is a method used to track production costs in industries that manufacture large volumes of identical products. It ensures accurate cost allocation, helping businesses improve pricing, efficiency, and profitability.  This blog will explore how process costing works, the different methods used, its benefits and challenges, and the role of technology in streamlining the […]

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]]> Data-Driven Scenario Planning: Preparing Your Business for the Unexpected https://www.brightpearl.com/blog/data-driven-scenario-planning Mon, 19 May 2025 19:56:22 +0000 https://www.brightpearl.com/?p=9896 Retailers today face unprecedented uncertainty. From supply chain disruptions to shifting consumer preferences, the landscape is marked by constant change. If businesses want to thrive, they need to proactively plan for the future using scenario planning. Scenario planning is a strategic process for exploring possible future outcomes for your business. Data-driven scenario planning enhances this […]

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]]> How to Calculate the Right Markup to Maximize Profit Margins https://www.brightpearl.com/blog/markup-formula Fri, 16 May 2025 08:00:26 +0000 https://www.brightpearl.com/?p=9894 Pricing products effectively is key to success in retail, wholesale, and e-commerce. Beyond covering costs, it shapes business growth, competitiveness, and long-term sustainability. A crucial part of this strategy is determining and applying the right markup. Markup—the difference between a product’s cost and its selling price—directly impacts profit margins and overall profitability. Setting it too […]

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]]> Is a Bonded Warehouse What Your Supply Chain Needs? https://www.brightpearl.com/blog/bonded-warehouse Thu, 15 May 2025 08:00:41 +0000 https://www.brightpearl.com/?p=9891 Modern retailers, wholesalers, and e-commerce businesses know that optimizing your supply chain is key to success. For those involved in international trade, one way to boost efficiency and cost-effectiveness is by using a bonded warehouse. In a nutshell, this type of warehouse allows you to store goods imported from overseas without needing to pay duties […]

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]]> The Average Cost of Warehouse Space Per Month in 2025 https://www.brightpearl.com/blog/cost-of-warehouse-space Wed, 14 May 2025 08:00:42 +0000 https://www.brightpearl.com/?p=9888 The warehouse. It’s the beating heart of your inventory, the crucial link between production and your customer’s doorstep. As retail and supply chain management becomes increasingly complex, the role of the warehouse has never been more critical. By 2025, efficient warehouse space will be essential to handle the relentless growth of e-commerce, optimize complex supply […]

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]]> Retail Store 2.0: How Technology Can Redefine the Customer Experience https://www.brightpearl.com/blog/retail-store-2-0-how-technology-can-redefine-the-customer-experience Thu, 17 Aug 2023 14:56:34 +0000 https://www.brightpearl.com/?p=8573 The retail industry is undergoing a major transformation. In the past, consumers were happy to shop in brick-and-mortar stores. But today, they have more choices than ever before. They can shop online, on their smartphones, or even through voice assistants. This has forced retailers to rethink the way they do business. One of the most […]

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]]> The Data Analytics Gap: Why Retailers Are Missing Out on Profits https://www.brightpearl.com/blog/the-data-analytics-gap-why-retailers-are-missing-out-on-profits Mon, 14 Aug 2023 14:50:31 +0000 https://www.brightpearl.com/?p=8571 In today’s competitive retail landscape, data analytics is essential for success. By collecting and analyzing data about customers, products, and operations, retailers can gain valuable insights that can help them make better business decisions. However, many retailers are still struggling to make the most of data analytics. A study by the Retail Industry Leaders Association […]

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]]> Artificial Intelligence in Warehouse Management: How Predictive Picking is Transforming the Industry https://www.brightpearl.com/blog/artificial-intelligence-in-warehouse-management-how-predictive-picking-is-transforming-the-industry Tue, 08 Aug 2023 14:23:41 +0000 https://www.brightpearl.com/?p=8515 The warehouse management sector is being rapidly transformed by artificial intelligence (AI). Predictive picking is one of the most potential applications of AI in warehouses. Predictive picking makes use of data to forecast which products will be ordered next. This data can then be utilized to optimize the picking process, ensuring that the most commonly […]

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]]> Warehouse Manager’s Guide to Tackling Inventory Shortages Head-On | Effective Inventory and Order Management in Retail https://www.brightpearl.com/blog/warehouse-managers-guide-to-tackling-inventory-shortages-head-on-effective-inventory-and-order-management-in-retail Fri, 28 Jul 2023 10:02:20 +0000 https://www.brightpearl.com/?p=8516 Inventory management is the foundation of any successful retail company and is critical to meeting client needs. However, disruptions in the supply chain, unanticipated demand surges, and ineffective order management can all lead to inventory shortages. While the war in Ukraine has pressured commodities including some food staples. The continued concentration of production in China […]

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]]> How To Do A Competitive Analysis In Retail https://www.brightpearl.com/blog/how-to-do-a-competitive-analysis-in-retail https://www.brightpearl.com/blog/how-to-do-a-competitive-analysis-in-retail#respond Fri, 10 Feb 2023 10:58:48 +0000 https://www.brightpearl.com/?p=8237 Intense contention in retail forces traders to keep their eyes open and thoroughly monitor their rivals. To perform insightful competitor analysis, companies are increasingly using social media listening tools. This innovative software allows you to discover a deeper layer of data about competitors. You can better understand their strengths and weaknesses, detect threats to your […]

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]]> https://www.brightpearl.com/blog/how-to-do-a-competitive-analysis-in-retail/feed 0 12 Tips for Building an eCommerce Team: A Best Practice Guide https://www.brightpearl.com/blog/12-tips-for-building-a-productive-ecommerce-team https://www.brightpearl.com/blog/12-tips-for-building-a-productive-ecommerce-team#respond Tue, 08 Nov 2022 15:56:20 +0000 https://www.brightpearl.com/?p=7993 According to Statista, retail e-commerce sales are projected to grow by 50 percent to hit approximately $7.4 trillion by 2025. With the number of digital buyers reaching over 2 billion in 2021, online shopping isn’t slowing down anytime soon. Source (statista.com) When done right, an ecommerce business can be highly profitable and rewarding. However, not […]

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