In a world where online retail shopping experiences can never match in-store experiences, smart merchandising is enabling retailers to create curated online product collections and elevate their shoppers’ experience. Smart merchandising leverages automation to expedite and optimize merchandising processes — from planning to inventory management to customer experience. This can be achieved through smart planograms that automatically organize product displays, tools for rapid price updates and automated reordering systems. These strategies help reduce manual tasks for merchandising teams, so they can focus on strategic responsibilities and decision-making that drive sales results.
Smart Visit Retail Express Website can also improve efficiency for planners through better demand prediction and more accurate product replenishment. This helps prevent out-of-stock conditions and overstocking, which leads to lower costs. In addition, smart merchandising can support segmentation and attribute management. This can help with merchandising strategies such as bundling items that go together, improving cross-sell and upselling opportunities.
Dynamic Pricing and Intelligent Merchandising: A Winning Combination
Intelligent pricing is another aspect of merchandising that can save money and boost revenues. It involves using AI to adjust prices in real-time, taking factors like supply and demand, competitor pricing, and inventory levels into account.
Lastly, smart merchandising can provide insights into which products are most popular with shoppers by tracking their real-time purchases. This can help identify the most attractive merchandising and pricing strategies, which can lead to more conversions for businesses.