Consumer tastes change often, and in order to be in step with current trends, retailers need to constantly assess which products to keep, carry, and drop. Historically, retailers determined product assortment
by analyzing transactional data, reviewing anecdotal information gleaned from suppliers, and examining third-party market share data. But this approach doesn’t factor in a new source of data that is available today – consumer e-demand signals
, which includes search behavior, ratings, reviews, and social signals. This data can provide retailers with a competitive advantage that can significantly impact their business, as this data is current and valuable.
Ugam’s Assortment Intelligence
- Aggregates and analyzes competitive intelligence and consumer demand signals to select the product assortment that differentiates them from competitors and capitalizes on current consumer trends
- Brings product intelligence to life, thereby supporting insightful analytics at brand, price, and attribute levels with its unmatched product-matching accuracy
- Identifies assortment gaps and opportunities to differentiate offerings
- Is complimented by analytics services to support deep dives in planning, SKU on-boarding, hind-sighting, and product-channel placement decisions, among others