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 productSetting right pricePositioning Products at the right placesPlacing products in right amountKnowing types of customers buying a particular productDrawing traffic to particular products Improving customer relationshipBuying trendThe 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 behaviours of customers and perhaps more importantly so, the prospects.Use of analytic tools could do wonders for small and medium...
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