Myra provides Retail/CPG industries with thought leadership and quantifiable realizations in the area of Predictive Analytics & Optimization
Here it is a couple weeks before Christmas. I’m not exactly waiting till the last minute to do my shopping, and the stores I went to today certainly have a ton of inventory. I am searching for a nice sweater for my husband in size L. Seems like an easy enough task; Large is the most common size for men, right? How come I left the mall empty handed? Retailers certainly do not want to see this happen, nor do I. I went to my favorite store, which had a beautiful display of cashmere sweaters– 12 colors, both V-neck and crew neck. It looked like a nice assortment till I started digging through it trying to find a L. Out of approximately 240 sweaters on the table I found 4 in size Large. Two of them in black (he already has that) 1 in purple (not for him) 1 in red. Really??? When I asked the sales person if there were any L in other colors, he seemed quite amused, but the answer was No. A potential sale walked out the door because they ‘re not able to predict the market.
As a retailer, you understand the spike in sales that happens the last 2 weeks before Christmas. You understand both the loss in sales by not having the right sizes in stock, and the customer loss due to not fulfilling my needs. I’m sure you also understand all the markdowns you will need to take on the plethora of Mediums that will go un-sold through Christmas. It doesn’t have to be that way. Come talk to me at NRF and let me share how predictive analytics can keep the right sizes in your store not only during the Christmas season, but year-round. Because I really like your store; and I want to keep shopping there.
Replace Your Crystal Ball with Next Generation Predictive Analytics- Learn more about the power of analytics at the SAP booth #1712. We Look forward to meeting with you and discussing how Predictive Analytics can improve your business in 2012 and beyond.
Interested in setting up a meeting with SAP at NRF? Please email: Retail_Forum@SAP.com
Want to learn more about SAP Retail activities at NRF? Visit: SAP Retail at NRF
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