Podcast - The Power of “Item Pairing” in Assortment Strategy Scenario Simulation
Are you looking to optimize your store's shelf space for a new product line? In this podcast episode, a team discusses their experience of using AI technology to optimize their shelf space and improve their revenue potential.
By applying merchandising constraints such as "item pairing," the team was able to run five different scenarios to analyze the impact on revenue. Specifically, they focused on item pairing and discovered that it had a significant impact on their revenue potential. However, applying product orientation and front-facing rules did not significantly impact revenue potential.
This highlights the importance of taking a data-driven approach to analyzing multiple scenarios to create a final assortment strategy that meets necessary constraints while maximizing revenue potential. With the power of AI technology, you can analyze a greater number of scenarios and discover new revenue opportunities.
If you're looking to optimize your store's shelf space, consider implementing AI technology and a data-driven approach. By doing so, you can make more informed decisions and improve your revenue potential.