What is ClarityRetail?

ClarityRetail is the first commercially available consumer demand estimation service. It has been designed specifically for retailers who wish to optimize their inventory and replenishment practices through the use of a forecasting tool that measures and predicts consumer demand by store.

ClarityRetail creates UPC level forecasts uniquely by store using historical sales data and a range of other influences such as price, promotion and seasonality. Each of these factors has an influence on demand and is weighted by the predictive engine using sophisticated algorithms that are at the heart of ClarityRetail.

Other forecasting solutions aggregate data from groups of stores and attempt to create profiles based on patterns that emerge. The problem with this type of approach is that it does not provide insights into store-specific sales patterns. As more and more retailers recognize that localized product assortment can help increase sales and reduce excess inventory, the benefits of store-specific forecasts cannot be ignored.

ClarityRetail uses a variety of predictive models based on the sales pattern exhibited by a particular UPC. Through analysis of an item’s sales history, ClarityRetail will select the most appropriate statistical model to use based on current conditions.

As many of us know, there are many factors that influence demand. ClarityRetail has built-in logic to handle a variety of complex influencers such as sales promotions, promotion types, price variance and seasonal and holiday trends. To help identify seasonal and holiday trends, the ClarityRetail service is equipped with an Event Calendar letting you assign specific events that you wish to track. This works for both fixed and floating holidays and other special situations such as sporting events, senior days and the like.