MERCHANDISING ANALYSIS
Identify what works and what doesn't
Gain detailed insights into sales trends, customer preferences, what products work best together and gamify inventory turnover.
It all begins with deciding where to place each product
Product placement isn't just about filling shelves, it's strategic and designed to guide customers through a journey in your store.
Then you need to decide the right price point
Determining the optimal price point is perhaps the most delicate balancing act of all. Price too high, and you alienate cost-conscious customers, but price too low and you jeopardize profit margins.
Lastly, you have to choose the right promotion
It's not just about slapping any old discount on a product, it's about understanding customer behavior, your brand demographic as well as seasonal and economic trends
Don't worry, we get it.
The level of complexity behind every merchandising choice is immense.
Every decision makes a difference
Every pricing decision requires a blend of analytical savviness and instinctive market understanding. You have to ensure that each product is positioned to sell with maximum efficiency, while still contributing to the overall health of your bottom line
Finding the "Sweet Spot"
Merchandising teams need to dive deep into market research, competitor pricing, and customer expectations to find that sweet spot where value for the consumer meets affordability.
It takes a special kind of person who can remain agile, ready to adjust their prices in response to market shifts, economic conditions and inventory levels.
What if you had cold hard data to backup your gut instincts?
Measure your competing SKUs
The simple truth of the matter is that if something goes on your shelf, something else has to come off.
How do you start to measure the trickle on effects of 2nd and 3rd generation SKU's as well as the overall health of a sub category?