Switch On Merchandise Analytics
With the emergence of multiple channels and the evolved, tech-savvy shopper, merchandising is often the difference between conversion and drop-outs. Staying ahead in the retail race requires constant efforts across the product lifecycle in localizing assortment, optimizing pricing, personalizing promotions and maximizing what you can do with your understanding of customer behavior across channels. With Algonomy’s Merchandise Analytics you can make every merchandising decision you take, a profitable one.
What color will be in trend next season? Will it be blue? How many of your shoppers will buy blue? How many will buy online? How many from your High Street store and how many elsewhere?
A merchandisers life was never easy, and indications are that it will only get tougher. Today 49% of your shoppers use two or more devices to shop. 53% actively follow at least one brand on social media. 47% research online before they decide what to buy. And each shopper expects personalization.
So how does the merchandiser choose right? And choose just enough? How does he avoid overstocks? Or stockouts? How much should his markdown be? How does he eliminate uncertainty from his daily life?
He can if advanced analytics and business intelligence is made user friendly and is made available to him 24/7 on his tablet in his hand. With merchandise analytics from Manthan(now Algonomy), the merchandiser has clarity on product introduction, placement, pricing, promotions, people. He now has old data and insight on products, categories and shoppers with guided recommendations that he can action on the go. He now has information. He knows what to do with it, and he can action immediately. Now each merchandiser can sharpen his ability to bring shoppers exactly what they want, exactly where they want it. And with switch on Manthan(now Algonomy) makes all of this available in the cloud, so that each merchandiser has an answer to each shopper. Just switch on.
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