It’s an opportunity for retail companies to provide a unique variety of products, which consumers actually want to buy. Assortment intelligence helps plan product offering profitably by using big data to know what’s hot.
Assortment intelligence matters because out-of-stocks frustrate shoppers and excess inventory creates wastes, lost sales and inefficiencies, often due to insufficient market data or ineffective supply chain communication.
What’s worse, different suppliers use different methods to classify their products. Non-standardized product data means everybody’s speaking different languages, making it hard to “compare apples to apples” across hundreds of thousands of products.
Effective assortment plans help companies optimize their offering to sell the variety, quality and designs shoppers want. Competitive, standardized assortment data also helps you identify and correct gaps in your catalog to increase your conversion rate.
Optimize your product assortment and take complete control of your online product merchandising with data to sell the right products to the right audience at the right time. Accurately forecast demands by SKU and calculate the optimum quantity of inventory to meet demand. Our assortment intelligence solutions help you track your competitors’ brands, inventory movements and historic trends so your entire supply chain knows which products to sell.
Gain market insight for retail product and pricing movements and stay ahead of the game.