Assortment planning is a strategic process used by retailers to decide which products to stock across different categories, locations and channels.

Circana’s tool, called Precision Assortment for Retail, will allow retailers to build tailored assortment plans on demand, ensuring that the right mix of products are available to meet customer demand and deliver on commercial objectives.

Precision Assortment for Retail integrates product performance and advanced customer loyalty analytics to create assortment recommendations at a store geography level, based on business targets and rest-of-market items.

Claire Goodhead, global retail assortment solutions at Circana, said: “Consumer markets are evolving rapidly, with customers navigating an unprecedented influx of messages and influences.

“This shift is reshaping categories and driving new patterns in customer demand. At the same time, retailers are leveraging more data than ever before.

“Recognising these trends, we’ve developed a solution that aligns perfectly with the needs of today’s market.”