Originally Published on: QuantzigRetail Excellence Unveiled: A Deep Dive into Retail Merchandise Planning Methods
Key Insights
-
A multinational consumer goods manufacturing company achieved a significant 4% expansion in brand share for connected toothbrush products on digital marketplaces with the aid of Quantzig’s solutions.
-
Despite thriving in physical stores, the client faced challenges in optimizing merchandise planning across online platforms.
-
Quantzig’s personalized approach enhanced digital assortment, leading to increased sales and engagement driven by insights into consumer behavior.
Introduction
The merchandise planning process is a crucial element in maximizing turnover and effectively meeting consumer needs.
Quantzig Success Story
-
Client Details: A multinational consumer goods manufacturing company headquartered in the USA.
-
Challenges: Optimizing merchandise planning and achieving equitable online market share.
-
Solutions: Quantzig provided tailored analytics solutions, optimizing product attributes, and tailoring consumer preferences.
-
Impact: Improved brand share by 4% across digital marketplaces.
Understanding Merchandise Planning in Retail
Effective merchandise planning drives profitability and customer satisfaction by strategically managing assortment, pricing, and inventory.
Strategies for Merchandise Planning 3.0
-
Balance Store Inventory: Maintain a light and fast-moving inventory.
-
Balance Merchandising Volatility: Recognize and respond to external factors influencing demand.
-
Balance Fulfillment Channels: Prioritize a customer-centric approach to fulfillment.
-
Align with the Supply Chain: Foster collaboration with suppliers on pricing strategies.
-
Apply Integrated Technology: Enhance forecast accuracy and planning through technology integration.