Consumer demand is continuously changing as a result of consumer trends, changes in seasons, consumers becoming more knowledgeable, and unforeseen occur[...]
Clustering is a function of category management which you can use to facilitate end-to-end solutions. You can also use cluster analysis to group your retail data and understand the similarities betwee[...]
As a retailer or supplier, it’s essential that you monitor your customers’ product interests and preferences so that you can offer the right products, in the right quantity, at the right place, and at[...]
Ensuring you offer the correct product mix at the right time, right place, at the right price and to the right customers is vital to surviving in a competitive retail environment. By selecting a caref[...]
Choosing the correct retail assortment is one of the most important decisions you’ll make for your retail stores. Select the wrong products, and you’ll have dissatisfied and frustrated customers. Fort[...]
While retail inventory is broad - there are multiple types of products across various categories - you can also filter it into two distinct groups. On the one hand, are your hardlines. On the other, a[...]
If you were to consider the rate of basket abandonment at physical stores versus online stores, there is no comparison. Most customers walk into your stores ready to purchase. It’s not the same with o[...]
Product bundling is a common pricing strategy implemented across the retail industry. It’s also not retailer-specific. You’re just as likely to find it used by a retailer selling computer software and[...]
The private label brands you present in your store can have a significant impact on your long-term success. That’s one reason why it’s worth introducing them to your store. Another reason is that you [...]
Catering to the product needs of your customers means you need to be mindful of what you stock. That much should be obvious. After all, choose the wrong assortment, and you could find yourself with pr[...]
If you're looking for ways to grow your market share, there are many options available to you. One, you could focus on strengthening your relationship with your customers. That shows you care about th[...]
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