We specialize in helping organizations within the retail industry reach their goals by combining our broad experience with a collaborative working approach. We believe this helps us to obtain the best solutions for each individual client.
Merchandise Planning & Assortment
Retailers need to plan their financial commitments, stock investments and assortments to be successful. Retailers can no longer plan around the product; now they must place a much greater focus on centering planning around the customer to reap the real benefits.
Customer Centric Planning
In the omni-channel world we know much more about the customer – their age, gender, buying habits and how they buy. We help retailers implement planning systems as well as business processes in order to help them truly stay ahead.
➤ Do you still plan by product and store or is the customer at the center of your planning philosophy?
➤ Are you planning your on-line business as a separate entity rather than part of the business as a whole?
➤ Are you planning at channel/product level too early in the process?
➤ Are your planning processes as nimble and flexible as they need to be, to allow you to trade effectively?
➤ Are you held to ransom by your system or does it support the way you need to work to meet the customer’s needs?
➤ Does your product planning link with marketing & digital planning?
Merchandise Planning is a core competence that all retailers need to a degree. As they say a goal without a plan is just a wish and so retailers need to plan their financial commitments, stock investments and assortments in order to be successful. In the past planning has centered around the product and time dimensions. In the new Omni-channel world however traditional approaches are no longer sufficient. Retailers need to recognize that things move faster than ever before and that the world of two or three seasons is long gone. In addition, the new world order demands a much greater focus on the customer.
In the old world stores and clusters of stores were a key focal point. A store however is really just a geographical cluster of customers. In the Omni-channel world we know much more about the customer – their age, gender, buying habits and how they buy. We can use this information to cluster customers in more intelligent ways. By centering planning on the customer you also align the business with marketing which focuses on customer acquisition and loyalty. There are huge benefits from this approach.
Many retailers see a system as the lynchpin of a new planning project. At Thought Provoking Consulting we have decades of experience implementing all of the various planning systems on the market. We recognize that the system is only a part of the solution however. The greater part lies in the business processes adopted and the approach a retailer takes to planning its merchandise offer and bringing it to market.