Retailers can lose out on a significant amount of revenue if they are not up to date with the most current product selection
Ottawa, Canada (PRWEB) September 21, 2012
Competitive Price Intelligence company, 360pi, unveiled 360Assortment today, a new solution that gives retailers visibility into their competitors’ product mix so that they can make better assortment decisions for their business, thereby optimizing margin and revenue opportunities.
360assortment is a Software as a Service (SaaS) solution that increases retailers’ visibility into their competitors’ category and product mix to enable them to optimize their own product mix. 360assortment does so by giving them insight into which products their assortment may be lacking, or where they may have a product that they sell exclusively. “Our customers have asked us for a solution that alerts them to new products that they are not currently carrying,” states 360pi CEO, Alexander Rink. “360assortment delivers and, as a product offering, fits nicely with our commitment to deliver solutions that help retailers increase their revenues and profitability.”
With competition in retail becoming increasingly fierce, having the optimal merchandise mix is of the utmost importance. “Retailers can lose out on a significant amount of revenue if they are not up to date with the most current product selection,” says Nick Desbarats, product lead at 360pi. “Adding popular or new products to their mix can drive sales and increase their revenues. Furthermore, by evaluating products that their competition have ceased to carry, retailers can increase margins by upping the price on products exclusively sold by them or by discontinuing not-in-demand products that may be generating negative ROI by creating unnecessary overhead costs.”
Assortment analysis is quickly becoming a key component of competitive intelligence, and is crucial for making better and smarter product and pricing decisions. To find out more about Competitive Assortment Intelligence, visit 360pi.com
360pi provides retailers with near-real-time monitoring of their competitors’ online prices, assortments and other key merchandising elements, enabling them to optimize their own pricing and assortments to increase revenues and gross margins by up to 80%. 360pi’s groundbreaking artificial intelligence-based extraction technologies provide retailers with an unprecedentedly accurate, complete and up-to-date view of their competitive landscape.