Retail product assortment optimization systems and methods

A system for optimizing a retail product assortment comprising:

• a data scraping and processing engine configured to obtain a mass list of potential products from at least one publicly available source;
• and
• a data processing engine communicatively coupled with the data scraping engine and configured to
• collate the mass list into a plurality of customer needs addressable by the potential products,
• determine a number of the plurality of customer needs that are addressable by particular ones of the potential products,
• convert the number for each of the particular potential products into a score for the particular potential product, wherein a high score indicates a particular potential product addresses a high number of the plurality of customer needs, and
• provide an output recommendation to a buyer associated with a retail location to update a product assortment at the retail location to include at least one of the particular potential products having a high score based on comparing the particular potential products having high scores with a product assortment list for the retail location.