Retailers: Use Analytics To Increase Sales And Profits!

06 Retail Analytics in 60 Seconds
Customer Insights: It helps you understand your customers buying behavior, CLV i.e. customer lifetime value, seasonal trends, in a nutshell,- what they buy, when, and why.
Inventory Optimization: Optimize inventory! Analyze parameters like product turnover rates, sales velocity, and seasonality.
Sales Forecasting: Predict future sales trends by analysing historical sales like your fast movers, slow movers, dead stock of the previous seasons or collections and market factors.
Pricing Strategies: Craft effective pricing strategies by analysing competitor pricing, consumer demand, and profitability.
Store Layout: Analyse store layouts and improve on merchandising, customer traffic patterns, any blind spots, organise in terms of signages etc.
Procurement: Analyse which category, sub category, brand, colour, design, fabric is selling the most. Which collection didnt move at all and so on
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