Optimize the assortment at your retail locations with Verteego's AI.
Assortment represents the range of products available in a retail location. Verteego leverages artificial intelligence to help businesses adopt an optimal assortment for each retail site.
Adapting the offer to the market and customer needs
An assortment consists of various categories of products chosen efficiently to meet consumer needs. It's essential to adapt the assortment to your market for sales optimization. Verteego's AI program performs various simulations to select the best formula to increase your revenue.
Assortment tailored to the catchment area
The optimal assortment should be chosen based on data related to the geographical area where your retail location is situated. This requires conducting market research on which your assortment selection and merchandising will rely.
Verteego's AI integrates point-of-sale data into the conducted market research. This ensures that every product offered at your retail location is better suited to the catchment area.
Choosing the right assortment concerning competition
To optimize the assortment, consider the articles or services offered by competing brands. Verteego's AI takes these data into account when choosing an assortment for a physical retail location. Thus, the assortment becomes a strategic element for the chosen retail location, which can serve to optimize financial services.
Employing predictive models to simulate assortment scenarios
To achieve a predefined business objective, you can use artificial intelligence to simulate various assortment scenarios. Here are some advantages of predictive models based on Verteego's AI.
Reduced forecast costs
One advantage of using Verteego's AI to choose your store's assortment is the low cost of sales forecasts. Using human skills for this task would be more expensive and take more time compared to forecasts entrusted to an AI program.
Increased margins and market share
Verteego's predictive models allow you to choose the best assortment for your retail location, improving inventory management and increasing your revenue through a better ratio of items sold compared to competitors. To achieve such profitability, Verteego's AI suggests the best purchase price for each item.
Efficient elimination of low-sellers
The assortment has three dimensions that need to be considered to minimize low-sellers. First, the breadth represents the number of categories of items offered at your retail location. Second, the width of the assortment represents the number of shelves or linear feet available at the retail location. Finally, the depth is the number of references per group or family of items.
Improved customer satisfaction
If the assortment at your retail location meets customer needs, your brand or private label will quickly gain popularity. Consumers will be more satisfied if you offer better prices compared to the competition.
Choosing the right assortment for each industry
Verteego offers several assortment optimization solutions tailored to various industries.
Grocery Retail
In the grocery retail sector, being able to predict the number of purchases at your retail location can be a significant technical advantage. This is possible through scenario simulations conducted with Verteego's predictive models.
Pharmaceutical Industry
Verteego's predictive models used in the pharmaceutical industry will help select the best assortment for each shelf or linear foot. Similarly, the demand for pharmaceutical products could be efficiently modeled to reduce the risk of stockouts.
Luxury and Fashion
Optimize the assortment, marketing, and promotional pricing for your luxury and fashion product specialized brand. Verteego's AI accurately anticipates sales trends for each assortment.
Food Service
By using machine learning in food service, Verteego allows you to predict what the best assortment would be to satisfy discerning consumers. This is especially useful for introducing a new category of dishes in your menu and optimizing stock management.
Specialized Retail
With Verteego's predictive models, optimizing stocks and assortments in your stores becomes faster. This innovation ensures precise financial flow management in the specialized retail field.
Insurance
Predictive solutions based on artificial intelligence and machine learning enable a company to build a reputation through its product assortment. Verteego's AI ensures that the right resources are allocated to organizing various services of an insurance company to generate interest among individuals.
Consumer Goods
You can simulate assortment scenarios or generate sales forecasts by category with Verteego's AI. Its predictive models prevent overstocking in your stores and optimize marketing, branding, and promotional operations.
Tourism and Events
Verteego uses machine learning to optimize assortments and, consequently, the revenue of companies in the tourism and events field. AI solutions allow you to offer the best prices compared to the competition and allocate the right resources for organizing your events.
Pharmacies
Merchandising and assortment selection in pharmacies can be improved with Verteego's predictive models. These predictive solutions also reduce the risk of stockouts and increase the profitability of pharmacies.
Manufacturing Industries
Using artificial intelligence to optimize distribution, assortment, and manufacturing flows could significantly contribute to progress in manufacturing industries. Verteego's predictive models also ensure better resource optimization by category.