IDC PlanScape: Intelligent Retail Assortment Planning
This IDC study discusses the importance of intelligent retail assortment planning.Most retailers are merchandisers. Retailers purchase products at cost, mark up their products, or set prices using various tools and sell these at a higher price point on the market. Assortment planning addresses the core problem of selecting products to sell and how to sell them on the market. Basic assortment planning has enabled optimization of product selection based on corporate strategy, historical data, and analytics. "Next-generation merchandising will require intelligent retail assortment planning," says Ananda Chakravarty, research VP, Merchandising and Marketing Analytics, IDC Retail Insights, "Why? Because the parameters of product selection and sales have grown exponentially, making scale, automation, and prioritization critical to optimizing sales."
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- IDC PlanScape Figure
- Executive Summary
- Why Is Intelligent Retail Assortment Planning Important?
- Intelligent Retail Is Evolving Rapidly
- AI Advances Classic Demand Forecasting
- Greater Automation of Assortment Planning Is Standard AI Fare
- Auto-Clustering and Space Planning Are Part of Modern Intelligent Retail
- SKU Rationalization Is Shifting to Customer-Centric Parameters
- SKU Proliferation Can Be a Competitive Disadvantage
- Assortment Planning Is Becoming Agile, Omni-Channel, and Localized
- What Is Intelligent Retail Assortment Planning?
- Intelligent Assortment Planning Balances Product Selection
- Who Are the Key Stakeholders?
- How Can My Organization Take Advantage of Intelligent Retail Assortment Planning?
- Introduce Intelligent Retail AP Tools
- Make Sure to Include Key Features of Modernized AP Solutions
- Advice for Technology Buyers
- Related Research
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