Juggling Stats?
Published 4/27/2009
Author: Andrea Syverson
Summary
Multichannel merchants are born multitaskers. They juggle the planning of multiple seasons and offers, industry macro and micro trends, numerous categories, SKUs, forecasts, vendors, inventory levels, management expectations, channels, customer feedback, product reviews, creative input, trips for sourcing, and product development processes. Their time — your time — is precious and must be used strategically.
Multichannel merchants are forced to be experts at editing and sifting wheat from chaff. They continually ask themselves, “What really matters?” when it comes to evaluating the health of a product portfolio. It’s easy to get overwhelmed and/or stuck in a sea of statistics.
With that in mind, here are a few suggestions for merchants and marketers wanting to take a holistic view of their product lines — post-square-inch analysis.
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