- Introduction
- 1. Data considered by Verteego
- 2. Results generated by Verteego
- 3. Benefits of using Verteego
- Conclusion
Introduction
In an increasingly competitive market, retailers must constantly innovate to remain relevant and profitable. Gone are the days of making decisions based solely on intuition or limited data. Today, thanks to artificial intelligence platforms like Verteego, these companies can enter the era of "precision commerce". Precision commerce" is characterized by a hyper-personalized, optimized approach to assortment management, inventory management and customer experience. By using advanced technologies to analyze massive amounts of data, retailers can make informed decisions, increase sales, reduce waste and deliver an exceptional customer experience. In this article, we'll explore how a Decision Intelligence platform like Verteego is transforming the way retailers manage their assortments. We'll detail the different types of results Verteego can generate, the constraints and inputs taken into account, and the many benefits of this approach. By following this path, retailers can not only improve their operational efficiency, but also position themselves as leaders in precision retailing.1. Data considered by Verteego
To enable precise assortment optimization, a platform like Verteego must first rely on a diversified set of data.Demand forecasting
Demand forecasting is fundamental to establishing the basis for Verteego's recommendations. AI needs to understand all the correlations between sales and the various inputs. By analyzing historical sales data, seasonal trends and special events, Verteego anticipates future needs. For example, in summer, an increase in demand for ice cream products can be anticipated. Verteego then adjusts orders to meet this increased demand, avoiding shortages and maximizing sales.
Competitive analysis
To remain competitive, companies must constantly monitor the actions of their competitors. Verteego makes it possible to monitor competitors' prices, promotions and assortments. Take the case of a DIY store which discovers that its main competitor is offering a promotion on electric drills. With Verteego, it can quickly adjust its own prices or promotions to remain attractive and retain its market share.
Cannibalization effect
Some assortment decisions can unintentionally harm other products in the range. For example, the introduction of a new yogurt brand may reduce sales of existing yogurts. Verteego helps to identify these cannibalization effects and adjust the assortment to maximize overall sales. In this way, a distributor can better balance its offer by removing products that cannibalize each other.Demographics
Consumption habits vary considerably from one region to another. In the South of France, for example, demand for olive oil products may be higher than elsewhere. Verteego integrates these regional specificities by analyzing demographic data and local preferences. For example, a supermarket in Brittany could increase its assortment of salted butter products to better suit the tastes of its local customers.Local consumer habits
Local consumer habits are crucial to a precision trade strategy. In certain regions, consumers may prefer organic or local products, which are often only available in these specific areas because they are produced by local producers. For example, a retailer located in Provence may observe strong demand for locally-grown products, such as olives or lavender honey, and include them more significantly in its assortment. Verteego automatically identifies these preferences and adapts the offer accordingly, guaranteeing greater customer satisfaction. This approach is increasingly appreciated by consumers, who value local provenance and freshness.By leveraging these different data sources, Verteego enables retailers to make informed and accurate decisions, paving the way for optimized management and an enhanced customer experience.
2. Results generated by Verteego
Thanks to in-depth data analysis, Verteego enables retail companies to produce tangible, meaningful results. Here are a few concrete examples of what artificial intelligence can achieve.
Assortment optimization
Assortment optimization is essential to maximize sales and minimize costs. For example, a supermarket chain may discover that certain cereal items are not selling as well as expected. Verteego automatically analyzes the sales of each product and identifies those that need to be withdrawn or replaced by more popular options. This continuous optimization helps maintain a dynamic and relevant assortment for customers.Offer personalization (e-commerce)
When it comes to e-commerce, personalized offers are a major asset in building customer loyalty. For example, an e-commerce site can use Verteego to analyze purchasing behavior and recommend specific products to each user. If a customer regularly buys baby care products, the platform can suggest new brands or complementary items, increasing the chances of additional sales and customer satisfaction.Definition of Promotional
Assortment The promotional assortment is a key element in attracting and retaining customers in-store. Verteego enables you to define this assortment by integrating specific themes, such as seasonal products, special events or current trends. For example, at back-to-school time, a retailer can promote a selection of school supplies, children's clothing and healthy snacks. Similarly, during the festive season, the promotional assortment might include decorations, popular gifts and festive foods. By analyzing consumer data and market trends, Verteego helps create promotional assortments that meet customer expectations and maximize sales.Sales space management
In-store sales space management is a constant challenge. Verteego helps optimize product layout to maximize space utilization and enhance the shopping experience. For example, in a supermarket, best-selling products can be strategically placed to increase their visibility and accessibility. This optimization of planograms makes for a smoother customer journey and increases impulse sales.Managing new products
Introducing new products always involves an element of risk. Verteego reduces this uncertainty by using sophisticated predictive analytics to assess sales potential prior to launch. For example, before launching a new range of energy drinks, a distributor can use Verteego to simulate their performance based on similar data. This enables initial quantities to be adjusted and appropriate promotions planned, maximizing the chances of success from the outset.Reducing breakage and waste (fresh produce)
The management of fresh produce is particularly critical due to its short shelf-life. Verteego helps minimize waste by adjusting orders according to precise sales forecasts. For example, a grocery store can use the platform to forecast demand for fruit and vegetables based on seasonal trends and local promotions. This reduces surplus and waste, while guaranteeing fresh produce for customers. Verteego's advanced analytics and precise management enable retailers to transform the way they manage their assortment. This approach leads to greater profitability, enhanced customer satisfaction and more sustainable resource management.3. Benefits of using Verteego
The adoption of a Decision Intelligence platform like Verteego brings many benefits to retailers, far beyond assortment optimization. Here are the main benefits.Improved customer satisfaction
One of the most immediate benefits is improved customer satisfaction. Thanks to Verteego, retailers can ensure that the products customers are looking for are always available in-store. For example, by analyzing purchasing data and trends, a supermarket can ensure that it has sufficient stock of popular products such as plant milks or organic foods, thus reducing the frustration associated with stock-outs. What's more, by offering personalized recommendations online, customers feel understood and valued, which strengthens their loyalty.Increased sales and margins
By optimizing the assortment, Verteego helps increase sales and margins. For example, by identifying high-margin products that are selling well, a retailer can highlight these products through targeted promotions or strategic in-store placements. Similarly, by dynamically adjusting the assortment in line with the competition, revenues can be maximized without sacrificing competitiveness.Operational efficiency
Artificial intelligence can also improve operational efficiency by automating many decision-making processes. For example, optimal assortment generation can be largely automated, with recommendations based on current sales forecasts and data analysis. This dramatically reduces the time teams spend developing and adjusting assortments, enabling them to concentrate on higher value-added tasks. Not only does this minimize human error, it also speeds up the time-to-market process, ensuring that products always meet customer expectations.Adaptability and responsiveness
In a constantly evolving market, the ability to adapt quickly is crucial. Verteego enables retailers to be reactive to market changes and new trends. For example, if a new food trend emerges, such as the growing demand for foods rich in plant proteins, Verteego immediately recommends assortment adjustments to capitalize on this trend. Similarly, by monitoring competitors' actions in real time, retailers can adjust their strategies to stay competitive.Environment and CSR
Optimizing assortment and precise inventory management also contribute to more sustainable resource management. By reducing losses and waste, particularly in the case of fresh produce, supermarket chains can reduce their ecological footprint. For example, by accurately forecasting demand for fruit and vegetables, a grocery store can avoid surpluses and therefore food waste, while guaranteeing fresh produce for its customers.Conclusion
The digital transformation of retail is entering a new era with the advent of "precision commerce". Thanks to Decision Intelligence platforms like Verteego, companies no longer simply follow trends, they create them. Verteego makes it possible to predict and respond to consumer needs with unrivalled accuracy, turning every decision into an opportunity for continuous improvement.Optimizing assortments, personalizing offers, efficiently managing sales space, successfully introducing new products and reducing food waste are no longer insurmountable challenges. With Verteego, retailers can not only increase sales and margins, but also deliver an exceptional, sustainable customer experience. Imagine shelves perfectly aligned with customer expectations, stock managed with surgical precision, and decisions informed by robust data. That's what Verteego makes possible. By adopting this technology, retailers become innovation leaders, ready to meet tomorrow's challenges.
Joining this revolution is not an option, it's a necessity to stay competitive. Artificial intelligence guides retailers towards operational excellence and customer satisfaction on a daily basis.