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emnos wins award for outstanding approach to assortment optimisation
LSA, the leading French retail magazine, has chosen a new methodology developed by emnos for optimising convenience store ranges to receive one of its retail industry awards.
emnos has been given the first ever ‘Expertise Shopper’ award which was presented for exceptional projects focused on leveraging shopper behaviour to increase revenue for retailers and suppliers. It is part of the new Category Management section in the annual LSA magazine awards programme. The winning project is a newly developed approach to optimising convenience store assortments.
Convenience store business is booming in France but suppliers and retailers have limited data on this growing distribution channel and therefore struggle to define the right product ranges and marketing strategies. emnos responded to this challenge by producing a new assortment methodology for major French retail group which includes over 1,500 convenience outlets.
The key to the new approach is combination of loyalty card and transaction data. Loyalty cards typically provide the rich data needed to understand behaviour KPIs but with a much lower percentage of customers using the cards in convenience stores (20% in this case), a more general, performance overview was sourced from the transactional information. Amalgamating such a vast amount of data to distill a clear picture of shopping patterns is an extremely complex process and underlines emnos’ unmatched experience in data driven marketing.
An impressive 14 suppliers have already collaborated in the French project which looked at 14 different product categories. Another innovation was to create regional store clusters where necessary based on supplier specific operations. Overall, each individual category was analysed and comparisons made between rural and urban outlets and also between the convenience stores and larger supermarkets. Next, needs units were identified and an ideal range recommended based on product performance – along with an estimation of the potential financial risk of listing or delisting products.
Seven Category Management awards were presented by LSA to retailers, suppliers and service providers for their work in fields such as: merchandising, omni channel, loyalty, shopper experience, shopper behaviour, e-merchandising, promotion and trade marketing.