Can you share examples of how you have leveraged data analytics and market research to drive better buying decisions?
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Sample interview questions: Can you share examples of how you have leveraged data analytics and market research to drive better buying decisions?
Sample answer:
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Collaborated with data analytics team to identify and forecast fashion trends: Conducted in-depth market research and trend analysis using data analytics tools and software. Gathered insights on consumer behavior, emerging trends, and shifting preferences. Developed data-driven trend forecasts and product recommendations for the buying team, enabling timely and strategic purchasing decisions.
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Analyzed historical sales data to optimize product assortment: Utilized data analytics platforms to examine sales trends, product performance, and customer feedback. Identified best-selling items, slow-moving products, and product categories with growth potential. Leveraged these insights to optimize product assortment, ensuring a balanced portfolio that meets customer demand and maximizes profitability.
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Used data to negotiate favorable terms with suppliers: Conducted thorough market research to understand market conditions, supplier capabilities, and competitive pricing. Analyzed data on supplier performance, lead times, and qualit… Read full answer