Tailored to the metrics that drive your business, our Product Score solution ensures consistency and data-driven decision making across the Merchandising business unit.
Within the merchandising function, it can be challenging to balance assortment depth and breadth with sales, profitability and growth. Often, many metrics are available, that when each used in a silo, can drive merchants to different decisions. Our ML Product Score Solution alleviates these challenges, delivering quantifiable benefits.
Applied digitally, Product Score provides marketers with a data-driven solution to optimize their digital advertising investments across large-scale product catalogs.
Drive Incremental Profit
A client case study showed a multi-million dollar lift in both top-line revenue and bottom-line profit as a result of using Product Score. In addition to time savings, it led them to different SKU rationalization decisions for 12% of products. The products that were swapped in generated upwards of 60% incremental profit when compared to the under-performers that were swapped out.
Identify the Hidden Gems
Much of a product’s success comes down to marketing. Unlike traditional metrics, the Product Score easily finds and highlights Hidden Gems – products that performed well, but were under-marketed.
Product Score optimizes your SKU rationalization process, generating a time savings of 33%. This allows Merchandisers to spend less time on otherwise objective decisions, and more time where it matters.
The Product Score Insights App readily identifies styles to keep and cut from the assortment; scores are assigned seasonally to give one objective rating to each product, which represent both the product’s strength in the current season and its likelihood to perform well in the future.
Items that aren’t given a fair shot aren’t going to stand out on your typical merchandising reports; our machine learning Product Score tool will ensure they get a second look.