Today's Logistics Report: Streamlined Retail Supply Chains; Product Varieties on a Chopping Block

By The Wall Street Journal (World News) | Created at 2024-07-10 11:50:16 | Updated at 2024-07-21 19:35:16 1 week ago
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More brands and retailers are coming to the conclusion that less means more for the bottom line. The trend of cutting back on the varieties of goods that began during the pandemic is picking up in some places, the WSJ’s Jennifer Williams reports, as companies prioritize in-demand items and pare stocks that are taking up space in warehouses and on the balance sheet. Net unique products at Hanesbrands are down about 50% since 2019, and the company slashed its inventories 28% last quarter from a year ago. Candice Medeiros of trend forecasting firm WGSN says that in a stable economic environment, many retailers give shoppers the luxury of choice. With inflation biting, consumers are going back to basics while retailers and their suppliers are focusing on what’s moving off the shelves. That’s why, she says, “we’re seeing more brands roll up their sleeves” to manage product counts.”

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