An Omni-channel product/merchandising multiplier effect is taking center stage and retailers must respond appropriately to this mega trend. This multiplier effect means that in an expanding economy, Omni-channel commerce growth – channel/catalog expansion needs, transaction data and the need for customer-centric product or merchandise is putting pressure on retailers to rapidly re-evaluate their SKU rationalization strategy and coordinate assortment or product-mix (private label and branded) across store and digital channels. Learn more about PLM Software.
To exemplify the Omni-channel SKU/assortment growth trend, 1 in 2 retailers will add more SKUs over the next 24 months, while 4 in 10 will also increase or optimize store assortments1. In response to this trend, the top products or merchandise or product differentiation actions that 5 out of 10 Omni-channel retailers are undertaking include: offer products tailored to customer needs, add new product categories and features and add private label products to current assortment.
This new report by niche analyst firm, EKN Research, analyzes the main trends, challenges and business process-technology essentials that help bridge the Omni-channel product management or merchandise gaps for increased revenue, operating margin and sell-through of merchandise in a growing Omni-channel retail economy. The report also highlights key best practices for omni-channel supply chain strategic sourcing, better alignment with merchandising and increased visibility and real-time collaboration with a global network of suppliers/partners for delivering revenue-enhancing products to right channels in cost effective ways.
