Quantzig, a leading analytics advisory firm, has announced the completion of their new article on fashion retail analytics. This article discusses about some essential steps that businesses should follow to boost sales and reap maximum benefit. Fashion retail analytics can help retailers to understand the customer behavior, anticipate customer movements, and interpret messages in driving customers to conversion. Also, it helps them understand how well the businesses are performing and aids in tracking and analyzing visitor behavior over time and across multiple channels. By leveraging fashion retail analytics solutions, businesses can offer personalized marketing action to target specific customer requirements.
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Quantzig is well-known for helping its clients with its end-to-end customized retail analytics capabilities. Our portfolio of retail and CPG analytics solutions use predictive analytics and prescriptive analytics to help retail and consumer product goods (CPG) companies with critical decision making around pricing strategies, product promotion, sales and demand forecasting, and merchandising planning.
With the increase in competition in the fashion retail sector, there is a dire need for innovation in sales and marketing strategies to attract, retain, and achieve profitable relationships with customers. Fashion retail analytics is helping companies to make use of vast customer data for developing the right kind of customer segmentation and implementing segment-specific sales and marketing strategies for improved ROI.
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Steps to leverage fashion retail analytics to boost sales
Prioritize the areas to win
To effectively start with fashion retail analytics, players in the fashion retail sector need to first decide where analytics will help them achieve the greatest business impact. Businesses need to develop a cross-functional road map to make tough decisions on where analytics matter most.
Quantzig’s retail analytics solutions can help you align merchandising decisions with customer expectations and improve sales. Request a free demo to know more.
Extract actionable insights
Retailers face critical challenges when it comes to discovering the limits of the data available. Available data can offer useful insights if used appropriately. This is where an appropriate data ecosystem backed by fashion retail analytics can help companies to tackle challenges such as an ever-changing assortment, rapidly changing trends, and non-standardized SKU.
Use an agile operation model
Fashion retail analytics can completely transform the way apparel industry works. An agile operation model can help companies in the retail and apparel sector to emphasize on progress over perfection and they can design product prototypes, which can then be tested in real business settings as quickly as possible.
Quantzig’s analytics experts help companies with successful development of cross-channel and multi-channel retail strategies, by obtaining insights on customer demand and preferences. Contact our experts to know more.
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About Quantzig
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal
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