Consumers currently spend an average of 29 minutes per visit in
stores, hunting for value and focused on products that provide both
convenience and quality. Even more crucial, they take an average
11.9 seconds to make product decisions. Are you confident you have
the right assortment optimization strategy in place to capture the
most value from those fleeting seconds?
Many retailers and consumer packaged goods manufacturers are
looking to assortment optimization (often referred to as consumer
or shopper development) to address widespread slumps in sales,
profits and gross margins investment. Consumers are increasingly in
the driver seat, making calculated decisions about their purchases.
Private labels are becoming progressively more popular. So are
local products. Big box stores are expanding, offering an
ever-growing range of products. Add in the profound influence of
social media on demand for products (both positive and negative)
and retailers are forced to sift
