Why is effective merchandising important?
Merchandising decisions are at the heart of retailing, from product assortment planning to pricing strategies and promotional activities. That remains true despite the continued shift towards e-commerce, where consumers’ adoption of online shopping has only heightened the importance of online merchandising activities. As retailers work to balance shopper convenience with the experience of shopping in brick and mortar locations, it will be essential to intelligently localize the in-store product assortment and create a space that fulfills their transactional, experiential, and branding needs.
Tomorrow’s retail leaders will excel by infusing speed, agility, and digital technology— informed by advanced analytics and machine learning models—into their physical and digital merchandising decisions.
35% of Amazon’s Annual NPI revenue is generated by its recommendation engine
Personalized product recommendations can improve cart abandonment by 4.35%
The Challenge we see
Getting prospective customers to stores—whether online or in-person—is tough enough. That makes every missed sale a big missed opportunity.
Poor sell-through at the store level is typically a reflection of suboptimal pricing and promotion strategies and/or inventory imbalances across stores and channels. Left unaddressed, those problems will keep contributing to missed sales and dragging profitability down.
The VectorScient Solution
PredictAlly™ for Merchandising provides prescriptive recommendations to maximize sales with optimal pricing, promotion, and inventory strategies.
Predictive recommendations for tactical
Predicted demand for each SKU—by sales channel, store, and website
to match demand for each SKU
Recommended promotions at
the website and store level
Recommended product assortments at the website and store level
Analysis of abandoned carts to understand root causes—inventory availability, pricing, etc.
A strategic compass for gauging holistic
A visualization dashboard tracking all relevant KPIs to help you determine the overall health of your merchandising, supported by various underlying metrics as building blocks.Get started now
Lost Sales shows the demand that could not be fulfilled due to a lack of available inventory.Get started now
“At-Risk Products” highlights products at risk of experiencing a stockout situation.Get started now
“At-Risk Locations” highlights locations at risk of experiencing a stockout situation.Get started now
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