Reading/References
CFI- Corporate Assortment Strategies
On this website, read about various assortment strategies that are executed both in-store and online. Assortment strategies are important to learn in order to directly interact with customers om product mix and purchase decisions.
What is Cost Modeling?
In this article, we will first have a brief overview of the cost modeling process. Once that is done, we will also have a look at the various important decisions which are undertaken during the development of the cost model.
Analytical Assortment Optimization: McKinsey
Assortment management has evolved significantly beyond simple performance metrics such as total sales or rotation numbers. In fact, big data and advanced analytics now enable comprehensive analyses of customer behavior at the push of a button. An example of this is McKinsey’s walk rate metric, which quantifies a product’s uniqueness by predicting the share of product sales that transfer to other products in the category when the product is delisted and the share that would “walk away” and be lost sales for the retailer
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