LONDON--(BUSINESS WIRE)--Infiniti Research, a world-renowned market intelligence solutions provider, has announced the completion of their latest article on the big trends in merchandise planning for 2018.
We all know, planning is one of the most vital aspects as far as a business is concerned. For organizations in the retail industry, who provide to an extremely dynamic target audience, predicting the demand and market trends could prove to be a tricky task. Most organizations in the retail industry face over-stocking or stock-out situations due to the lack of a suitable merchandise planning process. Merchandise planning is an organized process that is meant for maximizing the company’s ROI by carefully planning the inventory levels and sales to improve profitability. This effort also guarantees that the merchandise is available at the places, prices, times, and quantities that the market demands. Merchandise planning also goes out to resolve some of the major retail industry problems such as stockouts or having surplus stock after the season has ended. Frequently, a retailer’s merchandise planning is greatly influenced not just by the past demand and quantity of data but is also influenced by new trends in the retail market.
“For companies in the retail industry, who cater to a highly dynamic target audience, forecasting the demand and market trends could prove to be a tricky task,” says an industry expert from Infiniti.
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Big trends in merchandise planning for 2018:
- Demand for new, better, and personalized products: At present, with many options available to customers, there is a growing demand for improvised and better products. Retailers are now essential to provide larger assortments through numerous channels. Due to these added complexities, merchandise planning is gradually becoming an art that retailer industry companies must capitalize in and master. A suitable merchandise planning initiative guarantees that retailers do not isolate customers or lose potential sales by being out of stock of a hot-selling product.
- Innovations and improvements: To stay pertinent in the market, organizations must guarantee that they continuously improve and innovate their offerings. Modern customers tend to get tired and move away from brands that offer the same offerings over time. The more often an assortment can be refurbished, the more loyal and frequent customers will become. This highlights planning inventory and line plans. While performing merchandise planning, retailers need to be able to determine meaningful insights from product development and sales trend data to ascertain the product lifecycle and help buyers define a calendar for improvised and innovative launches. To know more about our solutions, speak to an expert
- Value for money: There are some players in the market that provide similar products and services, making it easier for customers to compare and select for ones which give them the most value for money. Such circumstances go beyond product development teams to greatly influence the merchandise planning teams as well. This makes it essential for retailers to have a close knowledge of the price points and promotions that have shown favorable results in the past while undertaking merchandise planning. It would help them increase the sales and profitability they get out of their current and future assortments.
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Infiniti Research is a global market intelligence company offering strategic insights to help look beyond market disruptions, study competitive activity, and develop intelligent business strategies. Listed below are the big trends in merchandise planning for 2018.
View the complete list of the big trends in merchandise planning for 2018:
About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies.
With 15+ years of experience and offices across three continents, Infiniti Research has been instrumental in providing a complete range of competitive intelligence, strategy, and research services for over 550 companies across the globe.