Find opportunities to continuously enhance your assortment and optimize your product mix. Select merchandise objectively and more efficiently, even when your catalog includes hundreds of thousands of items. With complete visibility into what products are being offered in the market, you are in a great position to make very specific assortment decisions and planning -- and to track the business impact of those actions.
Product assortment optimization
Discover which products and product-variations are available in the market, but not in your catalog, so you can decide which products to carry. Alternatively, determine how to differentiate your assortment by carrying certain unique products or categories that others in the retail market choose not to. The assortment planning tool presents you with a full description, images, prices and date of introduction. Leverage this and additional information, such as social media dynamics and Best Seller’s Rank at Amazon, to decide whether to carry the product. Tag products for later inspection and for automated email alerts.
Focus on your most important metrics
Find out how much overlap there is between your offering and that of your competitors. Use assortment management to identify brands for which you carry a reasonable number of products, but a limited set of the product variations. Tune your product selection to make it as comprehensive -- or differentiated -- as possible. Tailor your product offerings to your business goals, using insights that drive profitable decision-making.
Analyze and improve catalog management practices
Are you late introducing products to the market? For how long do you carry products compared to competitors? How do you price along the entire product lifetime, and how does this compare to the competition? Answer these types of question and discover trends and patterns that will help you optimize your product catalog.
How Retailers Can Achieve Wealth Through Savvy Pricing & Assortment Optimization