If you are a brand researching on what to produce for a marketplace, the Omnilytics fashion retail data platform provides a solution to help you identify the right assortment to produce or stock up at a marketplace. Learn how to identify and leverage category opportunities in a marketplace in this article with just 3 simple steps.
Step 1: Identify category opportunities
The Trend Performance module helps provide an overview of popular in a market or retailer. If you are a brand selling women’s apparel on ASOS, you can limit your research using the filter utama on the left to select the gender of your choice.
From the analysis, we identified that “Pants & Leggings” had one of the highest trend score (ie. 2.2).
You can click di sini to learn more about how trend scores are determined.
Step 2: Identify sub-category opportunities
Step 3: Validate sub-category opportunities
For any existing trends, it’s important to validate the performance of the trend before you proceed to produce. Within the Competitor Benchmarking module, select on “Trade Performance” analysis in the “Product Analysis” tab. Similar to Step 1 & 2, you can limit your research to recently launched products by selecting “Produk baru” in the Stock Status .
Scroll down to Trade Analysis, to analyse category performance. Since the goal of the analysis is to identify category opportunities, you can shorten your Periode Tanggal to reflect the strength of the category/sub-category in recent months.
From the Trade Analysis,, we observed that the benchmark sell-out rate for ASOS was approximately 32.83% in the last 3 months.
In comparison, Pant’s & Leggings are slightly lower at 30.95%. However, Joggers registered a strong performance with 37% eclipsing the benchmark indicating a strong performance.
To view the most popular assortment for “Joggers”, simply click into the total sell-out to view all 84 products that have gone terjual habis in the last 3 months.
Leveraging on market insights to accurately formulate the right assortment plan are an important part of any business. Identifying and validating category opportunities to produce or stock the right products for a marketplace is essential to help optimise sales growth whilst minimising risks.
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