The fashion retail industry is one of the most competitive sectors with several retailers fighting to get a significant chunk of the market share. Depending on the type of business model, organisations compete with discount stores, department stores and e-commerce portals. The growth of the Fashion Retail is primarily driven by the change in consumer demand, which has shifted from essential need-based purchases to occasion-specific purchases. Over the past few years, fashion retail industry organisations have started re-aligning their product offerings to increase their customer base and boost revenues amid recent economic uncertainties world over. Additionally, the fashion retail industry, at large, is shifting toward digitization to stay abreast of all the new developments. Also, with a radical drop in the brick-and-mortar store’s revenue, organisations in the fashion retail space are looking for efficient ways to re-evaluate store networks, reduce store operating costs, and innovative in-store experiences. One of the principal issues worrying most fashion retailers is the decreasing margins and the same has occurred mainly due to increasing labor costs, ever increasing material and warehousing costs. Moreover, the possibility of the dead stock lying in the warehouses increases the challenges manifold. However, to stay profitable, Fashion Retailers have no other option but to decrease their operating overheads.

The Client, a fashion powerhouse and a global leader in lifestyle apparel retail caters to thousands of modern shoppers through its more than 3000 stores and 100 plus brands, employing 25,000 multilingual staffsfrom various geographies. The Retail Giant has stamped a thumping presence across the geographies it operates, and the organisation is going from strength to strength since its inception in the last two decades.Their passion for achieving the vision of becoming the Number One retailer globally, has paved the way for new innovations and disruptionsin the retail industry and has been the driving force in propelling the organisations towards the right direction.

The client, a leading fashion retail player with retail units spread across the globe, wanted to create a merchandise plan and assortment optimization strategy to improve sales, customer satisfaction, and store-front layout. Also, the client wanted to increase their focus on getting the right products to the best-fit retail units in the right quantities at the right time.

With the help of VIAPROM’s Merchandising Analytics solution, the client created effective merchandising plans and gained customer insights by analyzing sales and merchandising data spread across multiple disparate databases. It also helped the organisationto make informed decisions while optimizing assortment and storefront layout. In addition, these solutions also helped the client to make accurate inventory stock decisions and offers demand forecasts to improve tracking of sell-through rates and to accomplish accurate replenishment plans.

Highlights of the Solution

The Solution helped the client to create an effective merchandising plan and gained customer insights by analyzing sales and merchandising data spread across multiple disparate databases

This helped them counter thinning margins and competitive pressures. The client also improved their storefront optimization and assortment planning based on product sales and customer data analysis. VIAPROM’s merchandising analytics solution helps companies to analyze promotion efficiencies and design targeted promotion strategies. The engagement also provides insights into sales, promotions, display features, and associated customer behavior. Furthermore, such solutions provide insights into the various combinations of products that are frequently bought together to assist companies in optimally promoting, placing, and pricing products.

VIAPROM TECHNOLOGIES PVT LTD is a flagship Data and Analytics Solutions company of IPROM GROUP. We help in building the smart digital enterprise leveraging the power of Data and Analytics. At VIAPROM, our focus is on achieving distinction by delivering value-driven Data and Analytics solutions. Our systematic investments in creating Intellectual Property, nurturing talent and building knowledge capital for specific industry verticals like Retail, Consumer, Aviation, Travel, Banking-Financial Services & Insurance, Media, Telecom, Power, Utilities, Oil & Gas, Pharma, Healthcare and Government Sector help our clients maximize their returns on their investments. We also develop and maintain strategic Applications for our Clients at our Knowledge Center which forms a pivotal part of our Integrated Business Solutions Offerings. Being located at the Silicon Valley of the East – BANGALORE and having the best of human capital and industry benchmarked processes makes us the preferred choice for our clients. Our vision and mission are to be the strategic consulting and Analytics partner for our clients and offer solutions that have long-term and sustainable benefits.