Merchandise Assortment Management Application Market 2022
Nowadays, retailers need to place more emphasis on customer satisfaction in order to meet sales and merchandise requirements. However, it is becoming more difficult day by day due to changing customer needs, as the number of product and channel choices, and changing market conditions keep fluctuating.
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The goal of introducing merchandise assortment management apps is to help retailers understand customer needs and take particular steps to meet them. The application typically links the customer’s purchase and assortment decisions to manage merchandise priorities, monetary goals, and space limitation.
This helps to understand the buyer’s choice of items, a brief to help integrate performance according to merchandise plans, identify future planning criteria, compare actual performance with norm and forecast in and out of season season for maximum customer response.
Merchandise Assortment Management Application Market: Drivers and Challenges
One of the main drivers is the increase in the number of retailers and customer demands. The other main reason is the increase in the use of cloud, big data, and advanced analytical and algorithmic approaches to improve retail performance.
The major challenge is the endless technology to track the specific solution and establishing a schedule is going to be difficult day in and day out. Moreover, customers are always unpredictable.
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Merchandise Assortment Management Application Market: Segmentation
On the basis of deployment type, the merchandise assortment management application market is segmented into cloud, mobile, social and big data. On the basis of service, the market is segmented into pre-season planning and in-season planning. On the basis of end users, the merchandise assortment management application market is segmented into manufacturing and retail.
Merchandise Assortment Management Application Market: Regional Outlook
Currently, North America, Western Europe, and Asia/Pacific are dominating the market due to growing demand from Tier 1 retailers (well-known retailers in their field or market). Further, on the basis of geography, the merchandise assortment management application market is segmented into North America, Europe, Middle East & Africa, Asia Pacific, and Latin America.
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Main market players:
Some of the major merchandise assortment management application players include SAS Institute Inc., JDA Software Group, Inc., TXT e-solutions SpA, Oracle, JustEnough, Island Pacific, Infor, 7thonline. Inc., Logility and The Nielsen Company (USA), LLC.
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