Intelligent Merchandising for Online Retailers
Online retailers are challenged to catch shoppers’ attention in seconds and to convert it into sales. The merchandising strategy that supports these objectives must be based on real data about customers’ shopping needs and behavior.Go here :https://www.retailexpress.com/
This must include merchandising that is driven by the latest market and competitor insights, as well as by shoppers’ own behavior (e.g., what products they buy together or the products that they like to shop for). This type of merchandising must be powered by artificial intelligence (AI) — which makes it possible to automate processes that previously were manually driven, and to capture new insight about shoppers that isn’t available in near-real time based on traditional metrics and analytics.
The Art of Intelligent Merchandising: Boosting Sales with Data-Driven Strategies
Smart merchandising delivers a more personalized experience for consumers, increasing conversion rates and repeat purchases. It allows retailers to cross-sell and up-sell without annoying customers by recommending things that they don’t want, or losing them with no recommendations at all. It also allows retailers to make changes based on customers’ actual interactions with product search and product recommendation tools – and it lets them see results in real-time.
It’s also helping buyers and merchandising teams manage inventory more effectively by reducing out-of-stocks, improving sales forecast accuracy, and reducing waste through automated reordering. And it’s helping them optimize shelf execution with AI-based processes that shift merchandising priorities away from products and toward customer behavior hierarchies — enabling a smoother transition into true customer centricity.