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 Quantzig’s solutions.
Despite success in physical stores, the client faced challenges in optimizing merchandise planning across online platforms.
Quantzig’s tailored approach enhanced digital assortment, resulting in increased sales and engagement through consumer behavior insights.
Introduction
The merchandise planning process serves as a pivotal 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 delivered tailored analytics solutions, optimizing product attributes, and tailoring consumer preferences.
Impact: Enhanced 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.