Category Management Consulting
Correct product range planning gives you a decisive competitive advantage
Customer needs are constantly changing, and their expectations of a certain standard of purchasing experience are also growing. In addition to this challenge, the retail world faces strong and growing competition. Developments show that just optimizing the retail space is no longer enough to economise efficiently and stand out from the competition. Increasingly, the customers and their requirements are taking centre stage. Strategic category management is crucial in retail when it comes to finding a competitive advantage and increasing customer retention.
Our proven optimization approaches give you a competitive advantage. In our experience, comprehensive product range planning can increase profit margins by 8-13%. The extent of our consulting services depends entirely on your needs. In addition to optimizing entire product ranges, following potential analysis, we can also work on individual ranges and product categories, if required. We will then show you how category management works for a conventional project.
how do you proceed with consulting for Category Management?
Product range analysis
In order to create a basis for successful product range organization and planning, we first carry out an extensive product range analysis, examining current performance and sales potential. We will then also compare the product range design of competing companies based on product assortment, pricing and placement and assess the market’s development in light of emerging trends. The tools used for this analysis are available both to our team and to you for the long term.
Strategy and process development
Based on these findings, we work with you to develop a strategy to establish long-term, efficient category management processes. Do you have the right mix of complementary, compulsory and featured product ranges? Are these ranges geared to specific target groups? We analyse and optimize segments and develop a strategy that suits your company and ensures that you stand out from the competition. To establish these category management processes in your company for the long term, we train your staff and practice the new processes in the form of workshops or process simulations.
Organization development
Companies undergo constant change, which must be reflected by their operational and organizational structure. We help you identify strengths and weaknesses in the existing structure and build a high-performing organization that also considers process costs and fits in with your overall company strategy.
Integration into the entire supply chain
Our many years of project experience show that category management optimization is most successful when the processes are integrated in the supply chain for the long term. This is why we adapt every case of product range optimization to your company strategy and take into account the differentiation criteria that matter to you. A comprehensive supply chain performance check allows us to quickly assess performance and identify strengths and weaknesses. Based on these findings, your suppliers can be tested and integrated into the process if they perform well.
Adapting store layout to customer needs and customer requirements in terms of store layout are high: easy orientation, individuality and the desire for a positive shopping experience. By adapting your product range and store layout to your customers’ needs, we increase your average transaction value, optimise space and keep customers in the store for longer.
This all has a positive impact on your customers’ shopping experience, which in turn achieves a higher degree of customer retention for your company. Based on the previously defined goals, we increase your turnover and profitability and ensure clear market positioning.
Converting cost reduction potential
Once a specific package of measures has been developed, the team carries out professional procurement tasks such as tenders and market negotiations in order to improve your cost situation and safeguard your income for the long term. We then coordinate POS strategies, sales planning and promotion planning with the marketing and sales departments.
Category management outsourcing
Identified potential, but don’t want to create a position in your company? As category management experts, we can take care of your entire conception, management, optimization and monitoring based on goals that we define together to fit in with your company strategy. You will be amazed by the results.
The results:
- Increased turnover and profitability
- Higher average transaction value
- Less duplication
- Optimized order and inventory management
- Developed market positioning and increased customer traffic
- Acquired processes are safeguarded for the long term
Dr. Frank Wierlemann
Managing Director
+49 221 485 687 0 contact@inverto.com View my LinkedIn profile View my XING profile
Rudolf Trettenbrein
Managing Director INVERTO Austria
+43 1 895 0749 contact@inverto.com View my LinkedIn profile View my XING profile
