Category Management 101 – Assortment Optimization Metrics

🛍️ Did you know? By carefully selecting the perfect mix of products and using data-driven strategies, you can create a shopping experience that leaves your customers ecstatic while multiplying your profits.

📈 Assortment Optimization has many components

• Sales and Revenue: Deliver higher sales & $$’s by choosing the right products for your customers.
• Sell-through Rate: Goodbye slow-moving products, assortment should align with customer demand.
• Gross Margin: Profitability soars by adding high-gross-margin products into your assortment.
• Stock Turnover: Maximize shelf presence and minimize carrying costs with faster stock turnover.
• Customer Segmentation: Delight different customer groups with Local/Regional and Personalized products.
• Product Cannibalization: Minimize duplication & avoid internal competition between products, making room for fresh ideas.
• Competitive Analysis: Stay ahead of competition by understanding their assortments and pricing strategies.
• Seasonal and Trend Analysis: Stay trendy and relevant by tapping into seasonal and market trends.

🔑 So What

Does your Category Management or Analytics team take these metrics and steps into consideration as part of your Assortment Optimization Planning?

At the end of the day, having the data AND the expertise in Assortment optimization has one goal à Providing your customers with an unforgettable shopping experience.

🚀 Contact us today at Catman Analytics for a consultation to unlock the magic of Assortment Optimization!