Merchandising is a complex field, and ideal stock and marketing levels can be difficult to determine. Analytics solutions enables companies to optimise merchandise assortment and storefront layout, track new product performance, optimise markdowns and promotions, and improve margins, said Quantzig in a press release.
Quantzig’s recent research project was to provide a holistic view of customers, inventory, and demand across multiple channels, categories, and products in order to help the client make informed merchandising decisions. A team of merchandising analytics experts gathered information from sources such as POS, inventory statistics, weblogs, loyalty data, and social media to develop an effective merchandising plan and assortment optimisation solution.
Quantzig’s consumer packaged goods (CPG) and retail analytics solutions use predictive analytics and prescriptive analytics to help firms with pricing strategies, product promotion, sales and demand forecasting, and merchandising planning. Some of the other solutions provided by Quantzig include assortment planning, shelf space allocation, key sales trigger analysis, marketing mix modeling and sales KPI tracking and performance measurement among others. (KD)
ALCHEMPro News Desk – India
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