Nowadays, retailers have to emphasize more on customer satisfaction in order to top the sale and merchandise requirements. However, this is becoming harder day by day due to change in the customer needs as the number of product choices and channels, and changing market conditions are keep on fluctuating.
The purpose behind the introduction of Merchandise Assortment Management Applications is to assist the retailers to understand the customers need and to take particular actions to meet the same. The application generally links the customer buying and assortment decisions to manage the merchandise priorities, the monetary targets and space limitation. This helps in understanding the buyer’s choice of items, a brief to help integrate the performance according to the merchandise plans, identifying the future planning criteria, comparing the actual performance with the standards and in-season and out-season forecast for maximum customer response.
Merchandise Assortment Management Applications Market: Drivers ,Challenges, Segmentation, Regional Outlook and Key Players:
One of the major drivers is the increase in the number of retailers and customer’s demands. The other main reason is the increase in the use of cloud, big data, advanced analytics and algorithmic approaches to improve retail performance.
The major challenge is the never ending technology to track the specific solution and establishing planning is going to be difficult day by day. Moreover, the customers are always unpredictable.
On the basis of deployment type, the Merchandise Assortment Management Applications Market is segmented into Cloud, mobile, social and big data. On the basis of service, the market is segmented into pre-season planning and in-season planning. Based on the end users, the Merchandise Assortment Management Applications Market is segmented into manufacturing and retail.
Presently, North America, Western Europe, and Asia/Pacific are leading the market due to growing one demand from Tier 1 retailers (well know retailers in their field or market). Moreover, on the basis of geography, the Merchandise Assortment Management Applications market is segmented into North America, Europe, Middle East and Africa, Asia-Pacific and Latin America.
Some of the key players in Merchandise Assortment Management Applications includes SAS Institute Inc., JDA Software Group, Inc., TXT e-solutions S.p.A., Oracle, JustEnough, Island Pacific, Infor, 7thonline. Inc., Logility and The Nielsen Company (US), LLC.
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