Challenge
With an exponential increase in new products and increasing customer expectations, it is challenging for retailers to manage endless aisles and also decide what products should be listed on all channels and what should be channel-exclusive. They need to make data-driven, customer-centric decisions to optimize every product category, curate the perfect basket, and hyper-localize assortments, while avoiding losses and maximizing profits.
TCS Solution
TCS Optumera™ Omnichannel Assortment Optimization considers over 1,000 factors that influence sales such as consumer decision tree, demand transferability and product affinity to optimize the right mix across channels. It helps strike a balance between variety and availability to curate the perfect basket based on shopper insights.
Adding Science to Instinct: Leverages AI to recommend the optimal product assortment
Competitive Assortment: Provides image- and attribute-based competitor assortment and gap analysis
Built for Scale: Uses concurrent high-dimensional optimization to enable what-if simulations
Always-On Optimization: Continuous recommendations help execute strategies 2x times faster
Configurable, Standardized Rule Sets: Offers a wide set of rules at a granular level
Configurable Dashboard: Provides user-configurable dashboard, reports and alerts
Benefits
- Improve sales and margin by 3-5%
- Execute merchandising strategies 2x times faster
- Complete shopper baskets effectively
- Rationalize stock-keeping units (SKUs)
- Localize assortment to increase footfall
