Value: Improve conversions and in store sales
The shopper in your store does not particularly want to see shelves loaded with a dozen brands of chocolate sauce or an overdoze of cereals. The need of the hour is effective merchandise planning through smart, lean assortments with the styles that work for her and the colours she is looking for.
Predictive Analytics is the torch bearer for retailers looking to address the critical questions in assortment planning, such as how a retailer may know what will work and what will not while performing the routine merchandise planning.
A shopper leaves behind a wealth of personal information about herself each time she browses your website, makes a call to you, downloads an app, uses a loyalty card, redeems an offer or orders a product via her smartphone
These should form the basis for in-depth assortment planning and merchandise planning, leveraging data mining, analytics, demand planning and forecasts – the foundation for predictive analytics.
Our experts can help:
- Identify the hot sellers next season?
- Figure out the SKUs that’ll need replenishment mid-way through the season?
- Plan how the spacing and layout should work based on Predictive Models.
- Understanding key supply and demand signals to align stocks with exactly what the customers need and keep them coming back for more.
- Sharpen merchandise planning by simulating future demand scenarios, simulating the values for price, sales promotions, marketing events and other related factors.
- Increase sales by ensuring that each store has the appropriate merchandize at the right time.
- Reduce inventory, leading to a more efficient supply chain and increased annual profitability by millions of dollars
- Effective assortment planning that aims to reduce markdowns and scale support across multiple business divisions.
- Improve customers’ shopping experience.