3-2 short paper: retail category management
Retailers that use category management can gain several benefits, including increased efficiency through improved inventory optimization and enhanced visibility into customer preferences. Category management allows retailers to better understand what products and categories are performing best within their store locations, enabling them to make targeted stocking decisions and adjust product selections in order to appeal to the tastes of their shoppers.
Furthermore, with the help of analytics-driven insights, retailers can use this information to devise precisely tailored promotional campaigns designed specifically for certain categories or customers. This not only helps drive sales but also offers a more personalized shopping experience by tailoring promotions directly at individual customers’ wants and needs.
Additionally, it enables an improved understanding of different types of shoppers’ preferences across channels which helps inform future decisions about inventory planning for physical stores versus online purchases.