Data-Driven Retail Merchandise Planning Solutions

Business Challenge: Conquering the Digital Marketplace

Launching a new product line is always a challenge, but for this client, the digital space proved particularly difficult. Despite success in physical stores, their oral care products struggled to gain traction online, failing to capture their fair share of the market.

Digital Market Penetration

Online Consumer Alignment

Merchandising Strategy Gaps

The client needed to understand why their existing merchandising strategies weren't translating to online success. Were they not reaching the right customers? Was their product assortment plan not aligned with online consumer preferences? These questions were critical to answer in order to unlock growth in the rapidly expanding digital marketplace.

How Quantzig Helped: Optimizing Assortment for Digital Success

Quantzig dove deep into consumer behavior data specific to the client's digital platforms. This allowed us to identify key areas for improvement in their product assortment and online merchandising strategies, focusing on retail inventory management and assortment optimization.

1. Improving Product Attributes: We enhanced product listings with relevant attributes like price profile, eco-friendliness, ease of use, and packaging to better resonate with online consumer preferences.
2. Consumer Contextualization: Personalized product offerings were developed based on consumer behavior segments, such as lifestyle changes, price sensitivity, and purchasing habits.
3. Promoting New Releases: Screen space was strategically allocated to showcase new products in proportion to customer purchasing trends, driving visibility and sales.
4. Upselling Additional Categories: High-potential customers were targeted with cross-selling opportunities based on similar customer profiles.
5. Clearing Stock Through Discounts: Targeted discount strategies were utilized to appeal to deal-seeking customers during clearance and holiday sales.

By aligning the client's product assortment and merchandising tactics with actual online consumer behavior, we were able to create a more engaging and effective online shopping experience.

Results and Impact: Driving Sales with Data-Driven Insights

The implementation of Quantzig's solution led to a significant improvement in the client's online performance. By optimizing their product assortment and merchandising strategies, the client achieved a notable 4% increase in brand share across marketplace listings for their connected toothbrush products.

This increase in brand share directly translates to increased sales and revenue. By leveraging data-driven insights, the client was able to effectively target the right customers with the right products at the right time, leading to a more successful online presence.

Future Ahead: Sustaining Growth in the Digital Age

In today's rapidly evolving retail landscape, data is key to staying ahead of the competition. By leveraging the power of retail analytics, retailers can gain a deep understanding of their customers and make informed decisions about their product assortment, pricing, and merchandising strategies. This data-driven approach is essential for achieving sustainable growth in the digital age.