A seminar hosted by IRI International, in conjunction with South African FMCG manufacturer Tiger Brands, has called for a reappraisal of how brands optimise their assortments in order to better meet consumer demand.
The event, ‘Shrink To Grow: How To Use Analytics And Technology To Optimise Your Line-Up’, was held at the Consumer Goods Forum Global Summit in Cape Town earlier today (15 June).
During the seminar, IRI and Tiger Brands examined how a new approach to assortment optimisation, based on looking at the category as a dynamic product mix, can enhance value for brands, categories and retailers, using analytic modeling and big data technology.
‘Getting the assortment right is critical and it can no longer be handled in the same way,’ IRI said in a statement. ‘It is time for consumer goods manufacturers to work with retailers to define the real value of a brand or product presence according to what is really impacting the shopper’s propensity to purchase.’
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.
