target audience: TECH BUYER Publication date: Dec 2022 - Document type: IDC PlanScape - Doc Document number: # US47779422
IDC PlanScape: Intelligent Retail Assortment Planning
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Abstract
This IDC study discusses the importance of intelligent retail assortment planning.
Most retailers are merchandisers. Retailers purchase products at cost, mark up their products, or set prices using various tools and sell these at a higher price point on the market. Assortment planning addresses the core problem of selecting products to sell and how to sell them on the market. Basic assortment planning has enabled optimization of product selection based on corporate strategy, historical data, and analytics. "Next-generation merchandising will require intelligent retail assortment planning," says Ananda Chakravarty, research VP, Merchandising and Marketing Analytics, IDC Retail Insights, "Why? Because the parameters of product selection and sales have grown exponentially, making scale, automation, and prioritization critical to optimizing sales."