100% assortment service that PQC provides to consumers. The main characteristics of a company’s product assortment are: (1) its length or number of products, (2) its breadth or number of product lines, (3) its depth or number of product varieties within a product line and (4) its consistency or how products relate to each other in a retail environment.
Retailers continue to explore the frontiers of eCommerce, seeking long-term growth and profitability in the new landscape of increasing competition and the use of competitive pricing intelligence approaches, shifting consumer priorities, multichannel proliferation, and growing complexity of everything. An area having tremendous impact on retail success, yet often neglected, is assortment. “Succeeding in the retail business means being good on a number of dimensions — service, pricing, marketing, and location selection But assortment in retailing is number one.
Assortment planning lets the retailer provide a more consistent product offering, most profitable mix of products, and pleasant shopping experience to the consumer, with the goal to:
• Increase sales, margin and inventory productivity.
• Help avoid costly mistakes by analyzing and projecting product assortment needs in advance.
• Identify new opportunities around changes in product mix, potential cost reduction, and effects on the bottom line.
Retailers focusing on effective assortment planning must:
1. Make sure you actually have a clear assortment strategy. This should be an integral part of your overall strategy.
2. Stick to your strategy once you have decided on it. Make your strategy reflect sound planning.
3. Seek, find, and hire senior staff people with prior merchandising, customer relations, AND online experience. People with these skills and experience are fast becoming an extremely valuable commodity in the online world, according to eCommerce consultant, 20-year veteran of the retail and online industries.
4. Analyze constantly. Don’t depend on your salespeople or merchandise managers for the answers.
5. Experiment with your assortment, and learn from the results. Don’t leave assortment decisions to trial and error.
6. Don’t leave the management of your assortment to suppliers. They may be smart, and very capable at data analysis, but at the end of the day, their strategy is not yours.
7. Use an Assortment Intelligence tool to know your competitors’ assortments at all times.
8. Place more importance on buying decisions that create the inventory, than on managing that inventory.
9. Make getting the right product at the right time for your customer a priority.
10. Deliver a best practice approach to merchandising.
Merchandising is the process of having the right products in the right place at the right time for the right customers, simultaneously producing long-term growth and profitability for the retailer. In order to compete with giants, you need to make merchandising a priority and get it right up front. True merchandising is working out what to buy and getting those decisions really sharp before you spend a penny on stock. It should take as much effort as inventory management and shouldn’t be confused with it either. PQC support in that manner to its valued customer.
Advantages of the assortment intelligence from Upstream Commerce:
* Retailers can get real-time assortment data updated at least once a day.
* Retailers can compare and analyze competitive product assortment by brand.
* Retailers can gain valuable insights into how competitive their product mix really is.
* Retailers can view products in many ways, and analyze how competitive they are overall for a specific product.
The obvious advantages are that the retailer can:
* View the overlap between their assortment and that of the competitors; and also see the prices for identical products.
* See what the competitor carries that they don’t and decide whether to add them.
* See what they carry that the competitor does not and decide how to price accordingly.
The result is millions of products currently tracked; billions of quality intelligence data points; nearly two years’ worth of data; real-time data collected directly from the source; the data is tracked over time, so you can watch the dynamics as they unfold, advanced analytics and proactive alerts for the retailer.
We provide Different type assortment service facility for our valued customer.