Data Digitization (2)
Understanding of customer details & caring Customer-centric culture
The retail shops with the most competitive potential are those merchants that pay attention to and focus on customer needs first. The customer-centric culture are found can be utilized into Data Monetization or converting data to money will be easier, because your entire organization, from buyers, category management, data analysis teams to merchandizers would understand exactly that there must focus on understanding customers, not just sales and profits, and all parties must take responsibility together. SME retails as well, emphasize and focusing on reaching customers’ liking this is a concept of
Customer centrics which help merchants to see all Category Insights, not just products, also will help to understand clearly and support the products in each category to grow more efficiently, including being able to organize the Brand Portfolio according to the objectives set in accordance with the data insights into:
• Trade Planning focuses on promoting products that generate more sales of each categories instead of focusing on price cuts or using budgets for combined promotional activities
• Range Planning meets the need of customers instead of focusing on more space for SKUs that are profitable for just a particular product.
If there is a complete management process for Category management be deploy together efficiently, Data Monetization will be used more easily.