Increase profitability by stocking the right assortment. To have the right categories and subcategories, we have to analyse market movements.
In this article, we will guide you on how to analyse the uptrending category in your market, before deep diving into the subcategory.
Step 1: Establish goals
First, choose a market that you would like to analyse. If you want to look for category opportunities, analyse market leaders to keep up with global trends. Conversely, to stay competitive in your market, opt to analyse locally instead.
Here, we will look at the United States as a market leader and use the Trend Performance module to analyse uptrending categories. Trend Performance is the only module that does not require selecting a brand or retailer in the main filter (on your left), so you can get an immediate higher level view by selecting Market only.
From here, you can easily identify the uptrending category from the trend cards’ line. If the overall trend score is positive (ie. uptrend), the solid line will be in green. In contrast, if the trend score is negative (ie. downtrend), the solid line will be shown in red.
Step 2: Analyse categories
On the dashboard, we can identify some categories that are currently uptrending, such as Jewellery, Activewear, and Bags.
With that said, do also check the cards with a negative trend score. Fashion is a cycle, and downtrending styles may go up.
The uptrending categories here are Tops, Activewear, and Shoes. Here, you can click the trend card to get more information about that specific category.
This is what shows up when we click into the Tops category.
The Trend Scorecard contains new analytics to help you get a deeper dive into the trend. Here, we can see that the Tops category carried a positive trend score of 0.3, as shown by the solid and dotted lines. As you can see on the right side of the Trend Scorecard, the Text Tee from Guess has the highest score.
You can also find the top 5 patterns, colours, and materials for the Tops category.
Next, scroll down to find the leading retailers and brands that have stocked Tops category. On the right, you can find information about Median Price and Price Spread for Tops, and % of Discounted, Replenished, and Sell-Out at Full Price.
Here, it’s clear that retailers launched more Tops in certain months – a key information to guide your launch plan. Having First Time Discount information helps too, as you want to avoid launching when your competitors are running heavy promotions.
Below, you can identify all types of Tops and sort it with the Sort By filter on the right to get an in-depth view.
Step 3: Analyse sub-category
The next step is to deep dive into the uptrending subcategories for Tops. From your main filter, you can add Categories Tops.
We see that T-Shirts, Tank Tops, and Swing Tops are uptrending – and you can further analyse by using the same steps listed above in Step 2.
By analysing categories and subcategories trends, enables you to potentialise your stock planning to minimise inventory glut.
We hope you found this article helpful! If you have any questions or would like to explore the Omnilytics dashboard further, feel free to reach out to your respective Client Success Manager.