Test, Read and React
Test, Read and React process whereby a retailer tests a product offering on a limited store basis before making the decision whether or not to carry the product in a greater market is being utilized more and more by retailers.
Retail landscape is evolving fast and the players are faced with furious competition every day when making product offering and pricing decisions. In apparel and specialty retail, where buy decisions are being made 6-12 months in advance of the sales period, retailers are now pushing to delay their investment and pricing as much as possible while constantly exploring new product offerings (especially in the case of fast) fashion, new categories, new price and new price segments.
Solvoyo's Test, Read and React solution, which supports decisions on test store selection, product buys, performance evaluation, and go-to-market strategy and the total buy quantity calculations based on learnings from the test phase, brings analytical capabilities to each decision step, makes the process much faster and enables the retailers to standardize decision making across all categories.
Through Clustering, Reporting, Assortment Planning capabilities hosted on the cloud and all integrated in the same platform, buyers and merchants from different divisions and around the world can use the same analytical approach to Test, Read & React and execute the analytical side of the process within minutes!
The solution combines, descriptive, diagnostic and prescriptive capabilities in a user-friendly interface where users can make decisions without getting lost in spreadsheets and analysis.