The Benefits of Retail Merchandising Tools
Retail merchandising tools are effective, easy-to-use solutions that help retailers manage their business without being exposed to tedious, low-level details. With an interactive view of the product hierarchy, retail merchandising tools allow retailers to lock plans at specific levels and adjust plans based on sales performance.
Being able to see the financial targets allows merchandisers and planners to track how much is available to spend on further inventory, making sure that the right level of stock is available to meet customer demand and avoid stock-outs, while other features within the retail merchandising software prevents overstocks and the necessity to initiate a markdown process that would damage profitability.
Whereas it may be possible for individual departments to make purchase and markdown decisions without retail merchandising tools, the software solution can also forecast the impact that individual departmental actions would have on the performance of other departments to avoid cannibalization and optimize performance across all categories.