Analytics for Electronics Retailers

Predictive Analytics Solutions for Electronics Retailers

Today’s dynamic retail environment and growing number of savvy consumers have created many challenges and opportunities for electronics retailers. Merchants working in this vertical are faced with increased online competition, slim margins, and constant introduction of new products & models.

 

Retalon’s predictive analytics generates a highly accurate demand forecast and offers a full suite of solutions tailored for electronics retailers. Retalon optimizes new products as they are introduced, and manages prices, promotions, and markdowns throughout the product’s lifecycle.

 

Moreover, Retalon helps electronics retailers build the optimal assortment for each channel/location in order to offer a strong selection of products while simultaneously decreasing inventory costs.

World-class inventory management & optimization for electronics retailers

Retalon offers electronics retailers the most accurate demand forecast available on the market. Moreover, we offer a comprehensive suite of retail solutions that utilize this forecast to optimize & automate your business, increase sales, decrease out-of-stocks, and maintain a high customer service level. Our solutions include purchasing, allocation, replenishment, and inter-store inventory transfers that proactively move inventory from slow-selling stores to stores that are in demand for the product and running out of supply. Since Electronics often have a higher price point, it pays to move slow selling merchandise to locations where it will be sold at full price, avoiding markdowns proactively.

Easy New Product Introductions with Predictive Analytics

Electronics retailers often introduce new products and new models of existing merchandise. Bringing new products in can be very challenging. Electronics retailers don’t always control the release date of products such as cellphones or game consoles and have limited or no sales history to base a forecast on. Retalon predictive analytics helps proactively account for new products in Planning and builds a highly accurate forecast as new products are introduced. The system suggests the optimal allocation and promotion of these products and Retalon also accounts for the cannibalization effect new products have on existing inventory.

Merchandise Assortment that Leads to Profitability and Improved Customer Service

Electronics retailers are faced with growing online competition as well as savvy consumers that compare prices, read reviews, and purchase products online. To succeed in the marketplace electronics retailers are re-designing their physical locations to offer a touch-and-feel experience through showrooms & demos while expanding their reach online with endless isles and personalized promotions. Retalon’s predictive analytics intelligently builds the optimal assortment diversity versus depth throughout all your sales channels and locations to offer a great assortment for customers while keeping inventory costs low.

Optimizing Pricing & Promotions for Electronics Retailers

Retalon makes optimizing pricing, promotions, and markdowns easy by providing one unified predictive analytics solution. Electronics retailers need to be able to consider multiple store types, prize zones, vendor co-promotions rebates, and other promotions that happen simultaneously. Retalon allows to intelligently account for a broad range of critical factors and suggests the optimal prices, promotion types, and markdown strategies to maximize GMROII. Moreover, this solution is integrated with Retalon’s inventory management solution to ensure that stores/channels have enough inventory proactively to support planned promotions.

Optimize Safety Stock in your DCs and Warehouses

Only add stock when doing so adds value! Retalon’s safety stock module optimizes inventory levels in your DCs and warehouses. This module protects electronics retailers from high inventory costs, out-of-stocks, as well as risks associated with unreliable vendors. The system accounts for dozens of influencing factors including vendor lead-times, incomplete, late or early shipments, fulfillment strategies, suburbanite stores demand. No more guesswork, and excess inventory to protect your sales, Retalon’s safety stock automates and optimizes this process for you.

One Unified Predictive Analytics Platform

All Retalon solutions are built on one unified predictive analytics platform that can account for all influencing factors in an electronics business and their interrelations. As a result, our machine learning (AI) engine builds a highly accurate and dynamic forecast and intelligently connects the planning, inventory optimization, and promotions/markdowns. Unlike function-specific solutions, Retalon’s approach provides superior accuracy, flexibility, scalability, consistently and higher ROI. Our clients typically see a significant reduction in inventory, labor and resource costs, a healthy boost in sales and turnovers.

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