 |
Analyze Merchandising Data
Relying only on intuition for critical merchandising decisions is no longer good enough. In order to make informed decisions, you need to understand sales performance from all angles. Classic location or category reports are only a start. To be effective, you must follow the trails that your customers leave behind, get a complete picture of what happened and why, which locations are prominent for particular categories, and which products sold together.
|
Understand customer behavior in depth to optimize merchandising decisions
With Quantivo, you can get answers to questions such as:
- Which products sell together and how often?
- What are the top product attached to promoted items, by frequency, count, basket size, and margin?
- What are my optimal product assortments and how do they vary depending on the store location and demographics?
- If we are out-of-stock on some items in a set, what is the customer behavior? Do they switch to a different set, do they purchase online, or do we lose the sale?
- What are the key factors related to underperforming or overperforming stores in specific product categories?
- What are new and emerging purchasing patterns that we can capitalize on in our store layouts?
With Quantivo, you can freely explore your point-of-sale transactional data, understand in details the behavioral patterns of your customers and their impact on product category performance, and make decisions that:
- Increase revenue and margin by tailoring product assortments to local demand instead of using a "one size fits all approach"
- Optimize inventory levels by understanding how out-of-stock situations impact your bottom line
- Quickly identify and replicate best practices across stores.
Arming your merchants at all levels with the insight that they need to make smart decisions every day is not just a best practice, it is a good business.
Get started today!