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EKN - Symphony

Is your assortment optimization process future-proofed?

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Which of these are your critical assortment optimization related challenges?

Difficulty in seamlessly integrating structured and unstructured data to identify category growth opportunities

Lack of customer purchasing insights for effective merchandising or category management

Reacting to product, brand and category trends rather than anticipating and evaluating these future opportunities

Struggle to build assortments that meet core customer needs in each store

Poor inventory availability in-store due to assortments that are not customer and store space aware

Inability to drive down the product costs due to inefficient sourcing of products from suppliers at a region or individual store level

FORWARD

Which sources of data does your organization use to drive its assortment optimization process?

Retailer POS

Store attributes

Product attributes

Demographic

Competitor store

Social media mentions

Syndicated market data

Category affinity

Customer loyalty

Product affinity

Customer segmentations

Weather

Logistics

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Select All that Apply

What shopping and customer behavior signals are you currently identifying and utilizing (or would you like to) as part of your assortment optimization process?

Shift from one product type to another

New product development needs in the category

Changes to existing product affinities

Emerging preferences and needs in a new demographic segment

Social trending that is expanding into new customer segments

Vertical specific customer behavior changes

Change in basket mix from category

Change in weight of purchase in a category(ies) over time by customers

Newly emerging category affinities

Significant or building social sentiment change

Social sentiment for the category or sub category is changing

Constant shifts in price/ promotions based on customer needs

FORWARD

How connected is your assortment optimization process to the rest of your organization – which business functions either inform the process or gain value from its outputs?

Store Managers

Procurement

Finance

Marketing

Supply Chain

Pricing and Promotions Management

OmniChannel/ E-Commerce

Store Operations

Customer Support

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How localized are your assortments and resulting planograms?

Cluster level (space break)

Regional level

National level

Individual Store Level

Cluster level (customer segmentation)

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Have a static historical review calendar that determines when each category will go through the process

Only high volume categories are scheduled for annual (or bi-annual) category reviews

Categories undergo a preliminary financial evaluation each year to determine whether the category review process should be carried out

We don’t run formal category reviews, rather manage category opportunities by exception and take the necessary corrective action throughout the year

How do you currently schedule your category review program?

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YOU ARE A INDUSTRY LEADER

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YOUR RESULTS

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Your SCORE: 71 – 100

YOUR RESULTS

You’re in the top percentile of retailers and doing much better than the industry across all areas