How Retail Predictive Analytics Optimizes New Product Introductions
Retailers are introducing new products to their mix faster and more frequently than ever before. As companies strive to offer a better assortment and keep up with evolving trends they also open themselves up to uncertainty and risk with each new introduction. New products don’t have a past sales history or demand forecast to rely on. Retalon’s predictive analytics solutions build a highly-accurate forecast for new products. Our platform then recommends initial purchase quantities and allocation strategies for new product introduction success.