Help & Support || Assortment prioritization
Help & Support
Assortment Prioritization :
Assortment Prioritization is a data-driven approach to product selection that allows retailers to analyze customer preferences, product performance, inventory levels, and market trends to determine the best combination of products to offer. By optimizing their product offerings, retailers can increase customer satisfaction, drive sales, and improve profitability.
Our assortment optimization solution is designed to help retailers stay ahead of the competition. Using advanced data analysis techniques and predictive modeling, we can help you identify the products that are most likely to be successful and profitable for your business. We can also help you monitor market trends and adjust your product offerings to meet the evolving needs of your customers.
MODULES:
Data integration and profiling: Our solution integrates data from various sources, including transactional data, shopper behavior data, and market data, to provide a comprehensive view of your business. By profiling your customers and their purchasing behavior, you can gain insights into their preferences and identify opportunities for growth.
Walk rate estimation: Leveraging Retail Audit data to develop the switching matrix.Switching Matrix explains the extent of volume transfer from the SKU for which price is changed to competitor SKUs
SKU scoring and prioritization: Our 5C approach to SKU prioritization evaluates and scores each SKU based on customer demand, category performance, competition, cost, and compliance. This allows you to identify the most valuable SKUs in your product lineup and prioritize them accordingly, which can improve your revenue and profitability.
SKU rationalization: Our solution can help you rationalize your product mix by identifying which SKUs are underperforming or have low profitability. By removing these SKUs from your product lineup, you can free up space for more profitable products and reduce your inventory costs.
Further support, Please contact : navin.kumar@decisionpoint.in