SKU Mix Optimization

By using analytics to adjust the mix of products, displays, salespeople and other significant asset investments, retailers can transform low-performing stores into high performers that meet the ever-changing needs of a community. But for many companies, merchandise and assortment planning optimization efforts are held back by poor analytical practices and data quality.

Many retailers analyze historical point-of-sale data to guide their growth strategies. Those retailers often can identify their top-selling products and their best customers, but they do not understand their full growth potential for new markets and new customers.

Modeling and Analytics

Acxiom’s approach to merchandise and assortment planning optimization integrates leading-edge analytical capabilities fueled by the most comprehensive source of predictive and descriptive household-level consumer data in the United States. With Acxiom’s expertise in a full range of modeling techniques and years of experience in solving tough growth challenges for some of the nation’s largest retailers, we will work with you to develop a deep understanding of your business goals and challenges. And we will organize and analyze your data in ways that help you increase growth and profitability.

The combination of our high-quality consumer data, advanced analytical capabilities and retail know-how enables Acxiom to gain insights into your areas of greatest growth potential that otherwise would not be apparent. With our understanding of store-level growth potential we have the ability to group stores sharing similar upside opportunity

These groupings of individual stores are built using a detailed understanding of each household’s potential for buying a certain product – not just demographic data at the ZIP Code™ or neighborhood level.

The end result? Acxiom generates nationwide customer and prospect groupings based on more than 2,500 household attributes covering more than 180 million marketable households, as well as estimates of the potential for revenue growth within each group and actionable merchandise and assortment optimization programs to meet the needs of the most promising targets.

Combine Critical Customer Data

Past sales can be a poor predictor of future success, because that data does little to point retailers in the direction of untapped market growth. Companies working with Acxiom to combine critical customer, product and store data can effectively understand where demand for their product is strongest – and who is generating that demand. Armed with this data, retailers can tailor assortments in each store or store cluster that most successfully meet the needs of consumers.

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