REDWOOD CITY, Calif.–(BUSINESS WIRE)–Feb 3, 2021–
DynamicAction announces the newest product in its Retail Analytics Program, DynamicRecipes [Exposure]. DynamicRecipes [Exposure] significantly improves digital merchandising performance across a Retailers’ site search, personalization, online merchandising management, eCommerce platforms and other content delivery systems.
DynamicRecipes [Exposure] rapidly expands a Merchandiser’s capabilities to optimize their product sorting to achieve higher gross margin, faster product turns and more consistent sales growth at every point digital products are displayed. By incorporating over 275 unique metrics, the “ingredients” missing from Retail’s current sorting tools to meet the needs of every category and product line merchandiser managing the digital storefront are now available. With a proven set of product scoring models to choose from, Retailers now can deploy extremely focused sorting recipes to address a myriad of retail business objectives.
“At the core of DynamicRecipes [Exposure], the application enables a Retailer’s merchandisers to incorporate a full context of inventory, profit, customer lifetime value, and other business attributes across all the engines they work with simultaneously,” said John Squire, CEO, DynamicAction. “With DynamicRecipes, retailers have an immediate measure of the results of those engines’ output, and a system that prescribes the next set of tuning actions to consistently and efficiently maximize profit while growing demand.”
Digital Merchandising, Sorted
DynamicRecipes already comes pre-configured to optimize the leading personalization and customer experience and messaging engines retailers have invested heavily in today. What sets DynamicRecipes apart is the flexibility for Merchants and Category Managers to build objective-specific recipes that focus their in-house and third party AI engines to their unique business goals globally across the digital storefront and distinctly in their category. These objectives include:
- Optimizing gross margin growth by driving views to items that drive significant margin per product view.
- Maximizing revenue and demand generation by consistently sorting products that generate higher sales and bigger baskets.
- Tackling overstocks by boosting exposure for items with extremely large Inventory Value or Stock Cover positions to quickly reach the optimal inventory level.
- Limiting returns by ensuring items that have poor customer reviews and high relative return rates are not promoted at the top of pages or in recommendation zones until quality issues can be investigated and addressed.
- Slowing down unplanned stockouts by balancing the exposure of items that will quickly sell out with those that need more exposure to meet their sell thru goal.
DynamicAction first disrupted the retail industry with the introduction of the DynamicAction Retail Analytics Platform that empowers retailers to make decisions with the speed of Amazon, and followed that up with the release of DynamicView, which equips Retailers’ merchandisers, planners and marketers to efficiently optimize product performance on their digital platforms. Retailers can implement DynamicRecipes [Exposure] on its own or pair it with either of these solutions, to efficiently fuel digital merchandise sorting.
Visit DynamicAction’s website to learn more about DynamicRecipes and schedule a demo.
About DynamicAction: DynamicAction empowers B2C and B2B Retail Brands to take decisive, customer-first, profitable action. The DynamicAction Commerce Decisioning Applications apply AI-powered proprietary algorithms to deliver definitive analytics and profit-prioritized actions. The DynamicAction Activation Program catalyzes cross-functional teams for agile, customer-centric retail success. Forward thinking brands rely on DynamicAction to holistically run more effective commerce organizations and execute targeted strategies that increase revenue and profitability.
Headquartered in Silicon Valley, DynamicAction has offices in Dallas, London and Sofia. Connect with us at www.DynamicAction.com and @DynamicAction on Twitter and LinkedIn.
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CONTACT: Jodie Thompson
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PUB: 02/03/2021 10:00 AM/DISC: 02/03/2021 10:01 AM