Big Data Retail Merchandising Strategy for SMBs

big_data

Retail merchandising strategy is paramount for small and medium sized retailers to boost sales of their products. It’s imperative to explore every corner of business strategy landscape to survive tough competition. For example, determining the place where a particular type of product needs to be placed so that maximum prospective customers can see it with ease, which can be the difference between a sale and non-sale.

Retail merchandising involves:

  • Launching right product

  • Setting right price

  • Positioning Products at the right places

  • Placing products in right amount

  • Knowing types of customers buying a particular product

  • Drawing traffic to particular products

  • Improving customer relationship

  • Buying trend

The problem is that with all this, there comes a huge volume of disparate data, which is basically useless if one can’t run proper analytics on it to figure out sales patterns, optimum positioning and buying behaviors of customers and perhaps more importantly so, the prospects…Read full blog at- Big Data Retail Merchandising Strategy for SMBs

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