Helping retailers and brands compete and thrive in the data-driven economy
dunnhumby, the world’s leading customer data science company is pleased to announce that it has been named as a Representative Vendor in the Gartner Market Guide for Retail Assortment Optimization Applications in Merchandising (released June 2022) for its Assortment solution.
“Assortment optimization applications provide powerful inventory management capabilities that can minimize excessive inventory and grow margins to enable dramatic improvement of cash flow. They can help retailers implement store-specific assortments, beyond the “clustering”
Leveraging the latest science, dunnhumby Assortment delivers automated, prescriptive, and customer-centric assortment recommendations with every decision based on real Customer purchase data. Utilised by more than 25 retailers and 100+ CPG brands globally to create assortments that truly reflect local and customer preferences, dunnhumby Assortment can deliver+2-5% like-for-like sales uplift and 50% efficiency savings within the merchandising process. New data science launching this year will enhance decision support to retailers and CPG brands by demonstrating how delisting or adding new product innovation will impact the financial and customer performance of their assortment, empowering users to select the optimal product mix that is tailored to their customer base.
The Gartner Market Guide lists dunnhumby as one of 23 Representative Vendors included. Optimizing retail product assortments to consumers, across touchpoints, is an urgent requirement for leveraging unified retail commerce. Retail CIOs, Merchandising and Buying teams and CPG brands can use this research to better align assortment optimization solutions with business needs to drive desired outcomes.
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The new Market Guide suggests that “Assortment optimization applications provide powerful inventory management capabilities that can minimize excessive inventory and grow margins to enable dramatic improvement of cash flow. They can help retailers implement store-specific assortments, beyond the “clustering” approach, to satisfy consumers’ increasing demands for more locally sourced products.”
“We’re pleased to have been recognised by Gartner for Retail Assortment in this Market Guide,” comments David Clements, Head of Retail at dunnhumby. “Our world-leading data science solutions help retailers and brands put the customer at the heart of their decision making, so that they can drive sales through a customer-first approach and create sustainable, long-term growth for their business.”