AP NEWS
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Merchandising Analytics is Turning out to Be the New Non-Negotiable for Retailers – Download Quantzig’s Free Resource for Exhaustive Insights

March 19, 2019
Steps to Develop a Successful Analytics Powered Merchandising Strategy (Graphic: Business Wire)

LONDON--(BUSINESS WIRE)--Mar 19, 2019--Quantzig, a leading analytics advisory firm that delivers customized analytics solutions, has announced the completion of its free resource on merchandising analytics and its importance in today’s complex retail scenario. Driven by a savvier and demanding customer base, the retail industry is undergoing a massive transformation which is sure to bring in enormous changes.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190319005554/en/

Steps to Develop a Successful Analytics Powered Merchandising Strategy (Graphic: Business Wire)

Owing to the rapid pace of retail transformations, traditional growth avenues including brick-and-mortar store expansions are no longer appropriate. Instead, newer approaches including growth through online platforms, localized assortments, and international market expansions are more competitive than ever. The complex retail backdrop has impacted every aspect and the merchandising function itself is finding itself at a critical inflection point. As retail firms gradually get accustomed to such rapid changes, merchandising has turned out to be one of the most unstructured segments within the industry.

“A sophisticated and powerful merchandising analytics platform is essential for retailers that are looking at gaining a front liner advantage in today’s complex business scenario,” says a merchandising analytics expert from Quantzig.

Quantzig’s merchandising analytics frameworks coupled with domain knowledge can help retailers to jump-start their merchandising analytics journey. Request a FREE demo to know more!

Steps to develop a successful analytics powered merchandising strategy

  • Leverage Big Data to Gain Granular Customer Insights

Leveraging big data can help retailers to gauge customer perceptions and better understand each phase of the path-to-purchase cycle. By harnessing big data to understand customer preferences and their priorities retailers can come up with a detailed blueprint to optimize their assortments.

The inability to understand customer preferences revolves around the fact that retailers are not well equipped with a structured approach that can help them better serve their customers. Request a free proposal to know more about our portfolio of merchandising analytics solutions and how it can help you gain a front liner advantage in today’s complex retail world.

  • Create Attribute Based Retail Assortments

While big data helps define demand from the customer perspective, the next step for retailers to begin a detailed analysis of product placement. By focusing on attribute-based analysis, retailers can evaluate merchandise from an internal perspective as well as consider other external features that impact a product category.

  • Localize and Streamline Assortments

Localizing and streamlining product categories requires retailers to correlate local customer demands and purchase histories to optimize where particular merchandise should be placed. This, in turn, helps increase sales, especially among slower-moving inventory.

About Quantzig

Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit:https://www.quantzig.com/request-for-proposal

View source version on businesswire.com:https://www.businesswire.com/news/home/20190319005554/en/

CONTACT: Quantzig

Anirban Choudhury

Marketing Manager

US: +1 630 538 7144

UK: +44 208 629 1455

https://www.quantzig.com/contact-us

KEYWORD:

INDUSTRY KEYWORD: SUPPLY CHAIN MANAGEMENT RETAIL OTHER RETAIL

SOURCE: Quantzig

Copyright Business Wire 2019.

PUB: 03/19/2019 09:40 AM/DISC: 03/19/2019 09:40 AM

http://www.businesswire.com/news/home/20190319005554/en