Merchandise Management — It's All About The Customer

April 2013 Integrated Solutions For Retailers

By Scott Welty, global vice president of retail industry strategy, JDA

Understanding there is no “I” in customer is key to successful strategies for assortment, price, and the channel.

For many years the driving forces in retail operations were derived through inward-facing questions. What products do I want to sell this season? Who do I want to sell these products to, and through what channels do I want to deliver them? And while these business prompts were sufficient in the past, it is a foregone conclusion that the old ways of retailing are behind us and a new day has emerged. This new day has reminded us that there is no “I” in customer.

In order for retailers to be successful in this new era, they need to enable customer centricity throughout their merchandise management operations, placing the consumer at center stage when creating strategies for assortment, price, and the channel. For retailers that can achieve this, there will be boons to brand loyalty, revenue, and profitability, as well as the long-term advantage of having a closer relationship with their customers, allowing them to listen and adapt to whatever changes in consumer behavior might come next.