Shopper preferences and overall demand help retailers determine how to plan their assortment for each store.
Ugam Assortment Intelligence is designed to generate insights for retailers regarding what products to keep, carry and drop based on real-time data collection and analytics. Data available within the solution helps merchandisers identify assortment gaps so they can better differentiate their product offerings. The solution gathers search data, ratings, reviews and social media activity to analyze the competitive landscape and provide retailers with demand trends so they can make optimal assortment decisions.
The solution is part of the Ugam Big Data platform and provides retailers and brands with a single repository of product data to improve pricing, assortment and content decisions.
“Retailers are looking for alternatives to competing solely on price, which is a losing battle,” said Mihir Kittur, Co-Founder and CIO at Ugam. “We help them not only understand what their competitors are offering; we help them understand what consumers want and what they don’t want. Knowing when to offer certain items and when to drop others is the key to assortment success.