How HIVERY Curate Turns Walmart Luminate Data into Dynamic Decisions
Data is more than just numbers in retail – it's the lifeblood of strategic decision-making. For CPG suppliers working with Walmart, harnessing the power of Walmart Luminate data is key to staying ahead. That's where HIVERY Curate comes in, transforming this rich data into actionable, dynamic decisions.
Understanding the Power of Walmart Luminate:
Walmart Luminate offers an unparalleled depth of retail data, providing insights at an item and store level. This includes valuable information about customer purchasing trends, stock levels, etc. However, the challenge for suppliers is not just accessing this data but translating it into actionable strategies.
The Role of HIVERY Curate:
HIVERY Curate bridges this gap. As an advanced AI-driven tool, it takes the comprehensive data from Walmart Luminate and turns it into actionable insights.
This process involves several key steps:
- Data Analysis and Interpretation: HIVERY Curate employs sophisticated algorithms to analyze Walmart Luminate data, identifying patterns and trends that might not be immediately obvious.
- Scenario Simulation: Suppliers can simulate various retail strategies within HIVERY Curate, seeing the potential outcomes before implementing changes in the real world. This feature is particularly useful for assessing the impact of SKU rationalization, space optimization, and cluster strategy adjustments.
- Tailored Recommendations: HIVERY Curate offers customized recommendations based on the analysis. These are hyper-local and retail-specific, ensuring that strategies are effective and relevant to each Walmart store's unique context.
Turning Data into Dynamic Decisions:
The true power of HIVERY Curate lies in its ability to turn data into dynamic, real-time decisions. Here are a few ways it achieves this:
- Maximizing Productivity of Space: Suppliers can optimize shelf space to enhance sales and customer satisfaction by understanding how products perform at specific locations.
- Efficient SKU Management: HIVERY Curate helps identify which SKUs should be prioritized or phased out, balancing inventory effectively while limiting churn.
- Insights into Customer Behavior: Utilizing Walmart Luminate's Customer Decision Tree (CDT), HIVERY Curate provides deep insights into customer purchase patterns, enabling suppliers to tailor their product offerings effectively.
HIVERY Curate’s integration with Walmart Luminate data is more than just a technological advancement; it's a game-changer for retail decision-making. By transforming raw data into dynamic decisions, HIVERY Curate empowers suppliers to understand their current retail environment and anticipate and shape future trends.
Walmart Luminate + HIVERY Curate: Top customer Q&As
What data can HIVERY Curate leverage from Walmart's Luminate?
HIVERY Curate can leverage the following data from Luminate:
- Weekly item-level sales data to drive its optimization model, including portfolio data at the buy item, buy store level
- Decision trees and assortment rankings to aid the optimization process
What types of recommendations can HIVERY Curate provide based on Luminate data?
HIVERY Curate can provide the following recommendations based on Luminate data:
- Store-specific assortment optimization recommendations that consider space, merchandising and execution constraints
- Simulations of different "what-if" assortment strategies and innovations using its predictive modeling capabilities
What additional capabilities does HIVERY Curate offer beyond the data itself?
In addition to leveraging the data, HIVERY Curate offers capabilities like:
- Estimating demand transfer between products as assortments change using Luminate's CDT data
- Outputting actionable planograms, assortments, adds/keeps/deletes for implementation
- Allowing fine-tuning of recommendations through its Interactive module
How does HIVERY Curate aim to complement Luminate's own tools?
HIVERY Curate heavily leverages Luminate's data but complements Luminate's own assortment tools by providing tailored insights and recommendations using its machine learning capabilities. It fuels predictive optimizations rather than replacing Luminate functionality.z
Do I need complete category data from Walmart Luminate?
No, you do not need the rest of the market data. We can optimize your portfolio using your existing sales data. We can perform a "portfolio-only" assortment analysis to ensure your assortments are optimized for your category. This analysis is powerful since you can find your ideal assortment and how it will grow your retailer's category. HIVERY Curate will tell you what has been removed, swapped, or deleted at the store level.
Further, you can:
- Run assortment optimization scenarios at the store level using your portfolio data. This allows recommendations on the best items to add, keep, or delete within the constraints of your distribution points.
- Determine and optimize pack sizes and price points within a portfolio.
- Evaluate ideal assortments to present to the Walmart buyer
- Evaluate the positioning of new innovation items
- Predict the impact of adding more points of distribution or space for a portfolio.
Walmart Luminate + HIVERY Curate = Faster time to value (ROI) and transparency
With Curate, you can maximize your investment in Walmart Luminate by accessing deeper insights and getting answers to complex questions. Consider these critical questions HIVERY Curate helps answer:
- What is the balance of portfolio depth and breadth to optimize the best-performing items?
- What is the ideal cluster size?
- How can I optimize my core brand and introduce new innovations in the most optimal way to benefit both the retailer and my brand?
- How can I rationalize my SKUs at each store but limit churn to X%?
- How incremental will my new items be to my brand portfolio and the retailer/category?
Understanding the unique dynamics of each store's space and customer behavior is crucial for CPG brands and retailers. This is where HIVERY Curate steps in. HIVERY Curate analyzes store-level data and provides actionable insights for strategic space planning. You can interact with your planogram live and see the impact of adding or deleting SKUs, adjusting space constraints, and applying other merchandise rules.
Major Multinational FMCG Company Leverages Walmart Luminate Data through HIVERY Curate
In a recent collaboration, HIVERY's analysis for a multinational FMCG company unveiled the potential to drive revenue growth by up to 4%. As a key player in this growth, this company found significant opportunities in the mainstream and therapeutic categories. Using store-level data from Walmart Luminate, HIVERY Curate identified that the top 10 recommended items could contribute to nearly 80% of the optimized revenue opportunity. Impressively, items from this multinational company represented 60% of the optimized revenue in the mainstream category. HIVERY Curate's precise recommendations included specific items to be added or removed, paving the way for this remarkable 4% growth. Furthermore, the tool provided insights into revenue growth prospects in the current state with established items and in the future, factoring in innovation items, all analyzed through Walmart Luminate's Customer Decision Tree (CDT).
By deploying custom machine learning models, HIVERY Curate offers precise, hyper-local insights, enabling retailers to optimize their space planning confidently. Whether maximizing space productivity or fine-tuning the product mix, HIVERY Curate provides the intelligence needed for making strategic, data-driven space planning decisions.
Related content you might be interested in:
- Making Assortment Planning Engaging, Interactive, and Insightful with HIVERY Curate: Lego for Retail Success
- Leveraging Store-level Data Insights to Decode Consumer Preferences in Pack Size and Product Assortment
- Mastering Assortment Price Pack Architecture: How AI streamlines product development & distribution across multiple retailers.
- How To Get Assortment Space Contribution Index Optimized