We consolidate and leverage all data sources available that will drive customer centric category management. By utilizing that data, we optimize your assortments to meet the local demand requirements and available store space. With one solution cluster, brand and store level planning could be covered and by clustering the stores on category level we will gain detailed information illustrated on map how the demand varies in different geographical areas on your market.
Assortment Optimization gives us detailed information of what products and SKU’s should be used when fulfilling the local demand. Based on that information the detailed Micro and Macro Space design could be accomplished. This could be done by using 2D and 3D capable CAD software or the whole Space Optimization process could be moved to Virtual Reality design lab, where the customer behavior on the store could be planned and tested in virtual reality environment.
The customer centric category management process is typically repeated several times a year to handle for instance the seasonal changes and offering updates. By doing so you have all the time up to date assortments available.
The final goal for customer centric category management process is to have the right assortments available on each store. The store level compliance of recommended categories can be implemented and tracked for instance by utilizing image recognition to guarantee the category process success.
To be able to fulfill the future needs of Category Planning and Optimization Symphony RetailAI has been developing a new product family called SR Next Gen Category Planning. In this new service they utilize the latest technical capabilities including Cloud Based Environments and Virtual Reality.
By using the latest innovations on category management solutions, a true customer-centric category management process can be built. At the same time, it supports easy collaboration with suppliers and colleagues at every stage. It transforms category management into a strategic differentiator, delivering a holistic approach to the overall category management process, including cluster creation, building of space-aware assortments, planogram creation and more.
By feeding the assortment process with behavioural-based store clustering, retailers can optimize store groupings to drive more relevant item assortments by format, store, department and category. Space-aware assortments based on customer behavior increase sales, profit and loyalty. These customer-relevant assortments are built using price sensitivity data, product correlations, sales, profitability, assortment priorities and more, ultimately delivering assortments that fit the available space.
Virtual Reality (VR) technology gives retailers the power to digitally design stores, run tests with different layouts, and identify the right format to maximize your customer experience. With SR Virtual Store Remodeling solution, retailers visualize shopper experiences, lower costs and shrink concept to in-store execution time.
With the use of virtual reality test labs, retailers can now “walk” customers through a virtual environment to test and measure the impact of changes to store formats, floorplans, look and feel, space allocation, signage and shopper flow. This helps retailers to improve in-store shopper experiences and ideate shopper activation scenarios.
Symphony RetailAI is the leading global provider of Artificial Intelligence-enabled decision platforms, solutions and customer-centric insights that drive validated growth for retailers and CPG manufacturers, from customer intelligence to personalized marketing, and merchandising and category management, to supply chain and retail operations.