INNOVATIVE APPROACHES TO ONLINE ASSORTMENT MANAGEMENT IN FASHION RETAIL

The objective of the study is to identify emerging strategies in the global fashion retail segment for better online assortment management from 2019 to 2023 in five countries including the US, UK, Germany, China and Australia with a sample of fifty companies. By analyzing the data using econometric analysis, the study seeks to establish the key variables that influence sales performance in fashion retail and provide recommendations for companies to improve these performance. Key findings by Satie show that the methods used in pricing significantly affect sales volumes, with low prices often corresponding to high sales volumes, but with some impact on profitability. Other aspects that contribute to the optimization of advertising targeting and improved sales results include the correct targeting of the advertising message to consumers, as well as the use of appropriate timing based on business cycles and consumer behavior cycles. Understanding the trends of price competition shapes competition and differentiation strategies in the context of online assortments. This has led to practical implications, including the definition of dynamic pricing plans in relation to competitor activity, promotional offers with the qualities of sound fundamentals supported by strong statistical elements, and even inventory control to prevent unnecessary shortages. In terms of the method used in the study, it includes the analysis of sales data, other records of prices, promotions, and even economic factors, using multiple regression. The results offer tactical guidelines for the implementation of data use in assortment planning, including econometric modeling in pricing procedures and in retail assortment strategy against the backdrop of changing consumer behavior patterns. Thus, by using this knowledge, fashion retailers can improve their market position, increase demand and thus develop a successful business in the market in the evolving online retail environment.

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