Retail assortment planning software helps offline retailers create an in-store merchandise mix (type of merchandise) and depth (number of SKUs or items within each category) that meets customer expectations and demand. It helps capture maximum sales by placing the right assortment at the right store. Retail assortment planning software gathers and analyzes information on customer preferences, past purchase behavior, and their response to discounts and promotions to help stock the right inventory for each store.
Retail assortment planning software can be used in conjunction with retail POS software and inventory control software to capture and analyze store-level data like sales data, customer data, and inventory-level data required for assortment planning of each store. Retail assortment planning software also has some capabilities to check and reduce out-of-stocks, prevent stock-outs, and identify bestsellers to facilitate better inventory planning and buying decisions.
To qualify for inclusion in the Retail Assortment Planning category, a product must:
Help retailer and merchandiser to plan and execute optimal merchandise mix for an individual store
Create an assortment plan across each category at the product and SKU level
Enable users to stock the right inventory based on past, present, and future demand
Act as a comprehensive, single repository of inventory data from all sales channels
Identify out-of-stock, overstocking or understocking, and bestsellers
Include analytics and reporting features to facilitate better merchandising decisions