Developing Exclusive Fashion Assortments Using Consumer InsightSource: First Insight
The landscape of the retail industry is changing rapidly. With the overall industry growing at only 3-4% per year (according to the National Retail Federation), retailers and brands are in a constant tug-of-war to gain share. Certain categories are growing faster than others, and the players need to ensure they are well-represented in these categories while reducing their investments in slower growth areas.
How can brands and retailers avoid commoditization and actually win in this environment?
The solution lies with retailers and brands coming together to identify the specific products most desired by the customer base of each retail channel. By developing exclusive product assortments by retailer, brands preserve margins and retailers maintain differentiation.
To make these decisions using data versus intuition, new tools are needed to understand what the customers of each retailer want and the price differential they are willing to pay. This white paper discusses how brands and retailers can apply predictive analytics to consumer data to identify which products are most valued by their customers and develop exclusive assortments with confidence.
Download this white paper below to read more.