In the US alone, it is estimated that dead inventory is costing retail $50 billion a year. To avoid this, people working in buying and merchandising shouldn't neglect the data-driven tools needed to compete in today’s challenging retail environment.
Retailers have traditionally done assortment planning manually and are stuck using old, time-consuming processes. In this new age of retail, trends are rolling out faster than ever so brands need to throw out their former processes and opt for a solution that’s backed by data and AI.
Market data has helped buyers and merchandisers like Carla Tuttlebee build a successful assortment in real-time. On unEDITED: Inside Retail’s latest episode, Carla, Head of Retail Buying & Merchandising at Vero Moda, delivers best practices for assortment planning in this new age. With previously held positions at Burberry and Nike, Carla has been in the industry for 15 years.
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