Galleria launches Strategic Assortment at NRF's Big Show
Galleria’s new Strategic Assortment Software allows retailers to forecast product needs across multiple stores and channels.
Galleria Retail Technology Solutions, the leading provider of retail and category optimization solutions, today launched Galleria Strategic Assortment, a range planning tool that enables retailers to easily build credible assortments across multiple stores and channels. From distribution partners to the Internet to local stores, the tool allows retailers to instantly see the benefits of a particular decision across the entire estate.
“Up to this point, it’s been nearly impossible for retailers to forecast across a broad range of stores, distribution networks and the Internet simultaneously and produce ranges for each product sold,” said Mike Humphreys, CTO, Galleria. “With our Strategic Assortment product, retailers can look at all of their products simultaneously across their entire estate.”
With Strategic Assortment, retailers can achieve a holistic view of where all of their products are going, whether it’s brick-and-mortar stores, third-party distributors or the Internet, and identify the range of products needed to meet the demands of consumers within each channel. In addition, the software provides retailers with instantaneous information on the financial benefits of any product changes made within each channel.
“This is a quantum leap beyond the ‘one store, one cluster at a time’ approach that has challenged retailers with multiple channels for years,” Humphreys added. “The product forecasts how new products might perform, allowing retailers to compare a variety of scenarios quickly and easily, which results in more intelligent decisions on product selection.”
As well as utilizing historical data sources such as sales volume and profitability, Strategic Assortment analyzes product propensity and intelligence to develop real-world shoppers. The tool is able to import a wide variety of data types such as retail POS, syndicated data, loyalty data and other information. With opportunities identified, the user is able to model a variety of assortment plans and scenarios before publishing the assortment recommendations.
For more information, visit Galleria Booth (# 3325) at the National Retail Federation (NRF) Big Show, Jan. 16-17, 2012, or visit www.galleria-rts.com.