In the competitive retail landscape, the importance of assortment planning cannot be overstated. As customer expectations rise and shopping habits continue to evolve, retailers must adapt quickly to ensure that they are offering the right products at the right time and in the right quantities. This is where Increff’s assortment planning software comes into play.
Effective assortment planning is the backbone of any successful retail strategy, helping retailers optimize their inventory, increase sales, and ensure that products meet customer demand. However, it’s not just about selecting products to stock—it’s about data-driven decisions that align with consumer preferences, seasonal trends, and local demands. At Increff, we combine deep industry expertise with cutting-edge technology to provide a comprehensive solution that transforms the way retailers approach assortment planning.
Our assortment planning tool goes beyond basic inventory management. It allows retailers to make smarter, more efficient decisions, optimizing the mix of products offered and ensuring that the right assortment is curated for each store, whether it’s based on geographic location, customer demographics, or buying behavior. By combining creativity with data-backed insights, Increff ensures that retailers stay ahead of the competition while meeting customer demands.
At Increff, the foundation of effective assortment planning begins with understanding the unique demand of every store. By creating the DNA of every store, we ensure that assortments, like fingerprints, are curated uniquely for each store’s specific needs. Our software offers an advanced, data-driven approach that empowers retailers to fine-tune their assortments and enhance customer satisfaction, making it a key player in the retail ecosystem.
Here are five ways Increff’s assortment planning software stands out in the world of assortment planning:
1. Optimal Width and Depth for Maximizing Conversion
Increff’s assortment planning software uses a data-driven approach to optimize both the width (number of styles) and depth (inventory quantity) of assortments. By analyzing historical sales data and local demand, retailers can ensure their store assortments are both broad enough to meet customer preferences and deep enough to avoid stockouts.
Optimum Width:
Increff’s assortment planning software predicts the optimal number of styles to be exposed at the store and attribute group level, ensuring a diverse selection. The software removes excess low-revenue contributing styles or longtails from the store, while introducing better-performing style groups to certain stores.
Optimum Depth:
Our assortment planning software predicts true demand contribution at the store and attribute group level. It corrects for liquidation and brokenness and factors in events or festive occasions. This ensures the right depth of stock for each store based on historical revenue contribution, optimizing the mix within a category at the attribute level for every store.
2. True Size Set Ratios to Prevent Size Mismatch
One of the major challenges retailers face is the proper allocation of sizes in each store. Increff’s True Size Set Ratio, an essential feature of our smart assortment planning tool, ensures that retailers can predict and manage size availability, minimizing mismatches and stockouts.
Predicting Size Demand:
Increff’s assortment planning software uses historical data, sales trends, and store-specific performance to arrive at the most optimized size set distribution. This helps retailers optimize size-level allocations, reducing the chance of overstocking or understocking sizes.
Minimizing Size Cuts:
By accurately predicting true size ratios, Increff’s assortment planning tool ensures that stores carry the right sizes, reducing excess inventory and improving customer satisfaction.
3. Informed Decisions with Attribute-Based Predictions
One of the key strengths of Increff’s assortment planning tool is its ability to predict demand based on product attributes. Increff’s smart assortment planning software allows retailers to make better assortment planning decisions by analyzing historical data in depth.
17 Levels of Attributes:
Unlike other tools that use limited attributes (typically five), Increff’s Smart Assortment Planning Software goes much deeper, analyzing products across 17 different attributes. This detailed analysis helps retailers understand demand fluctuations and make informed decisions about which products to prioritize. Styles might not repeat season-on-season, but attribute groups will always be a constant factor across seasons.
Predicting Consumer Behavior:
By factoring in the influence of different attributes, Increff’s Smart Assortment Planning Software helps predict demand at a granular level. This ensures that assortments are not only aligned with customer preferences but also account for seasonal trends and changing market conditions.
4. Customizable Algorithms for Smarter Assortments
Every retail business is unique, and that’s why one-size-fits-all algorithms don’t always work. Increff’s assortment planning tool offers over 100 customizable algorithms, allowing retailers to fine-tune their assortment planning strategies to meet specific business needs.
Tailored Algorithms:
Whether you need to optimize assortments based on sales channels, regional trends, or specific product categories, Increff’s customizable algorithms allow you to adjust your approach accordingly.
Enhanced Flexibility:
With these algorithms, retailers can create smarter assortments that reflect the changing needs of the business. This flexibility ensures that assortment planning stays relevant, even during periods of change.
5. NOOS – Never Out of Stock for Core & Bestseller Styles
Ensuring the availability of high-performing products is crucial for maintaining consistent sales. Increff helps retailers identify core and bestseller styles using the Never Out of Stock (NOOS) method, reducing the risk of stockouts and missed opportunities.
Automated Identification of NOOS:
Based on user-defined inputs like revenue contribution, Rate of Sale (ROS), discounts, etc., Increff’s assortment planning software identifies the NOOS styles and classifies them under Fashion, Core, and Bestseller styles.
Revenue Contribution & Discount Tracking:
The software tracks revenue contribution, discounting trends, and product consistency, optimizing the NOOS selection to prioritize bestseller styles across all stores.
Conclusion: Why Increff’s Assortment Planning is the Key to Retail Success
With Increff’s assortment planning software, retailers can make informed, data-backed decisions that ensure the right products are available in the right quantities, at the right locations. By combining intelligence with creativity, Increff empowers retailers to optimize their assortments, increase conversion rates, and maximize profitability.
In today’s competitive retail environment, effective assortment planning is crucial to staying ahead. Increff provides an intelligent, data-driven approach that empowers retailers to make smarter decisions, optimize inventory, and deliver the right products to the right customers. By combining technology with creative insights, Increff ensures that retailers can craft assortments that not only meet customer expectations but also drive profitability and operational efficiency.
What Sets Increff Apart?
The unique advantage of Increff is its ability to combine advanced algorithms, deep industry expertise, and customized solutions to help retailers achieve smarter, more efficient assortment planning. With real-time updates and continuous adjustments based on data, retailers are empowered to stay ahead of changing trends and customer needs.
Ready to optimize your assortment planning? Learn more about how Increff’s assortment planning software can help streamline your processes and boost sales. Start today!
