Niche modeling is the process of identifying unique merchandise categories that may not fit every store, but can lift revenues in certain stores dramatically when implemented correctly. The definition of a niche is broad, covering anything from bird seed to baby food and work boots to Weber grills, depending on your industry and core business.
Forum's range of niche modeling services are broad as well. We can help you identify and create a niche category of goods based on deep-dive analytics of your SKU level data. If you already have niches defined, we can help develop scoring algorithms to identify the best stores in your network for implementation of your niche assortments to maximize positive revenue impact.
Integrated niche modeling in our simple, Google-based SIMMS Online tool allows your merchants to quickly evaluate every store for niche potential.
Flexible modeling framework ensures continual updates to the modeling logic, and a multitude of customizations available for handling any type of niche category.
For a national retail chain, Forum developed a niche forecasting model for a specific work-wear product category and identified over 500 high potential candidate stores for implementation.