Having a clear picture of success and perfect store methodology is essential to ensure the success of in-store execution across different routes to market.
On top of that, technology solutions can make Retail Execution processes more efficient and effective. The most successful technologies focus at freeing up field reps from bean-counting activities whilst empowering them with tools to better engage the store stakeholders.
Below we describe 4 solutions to boost your Retail Execution strategy.
1. Image Recognition
● A great tool to reduce the time spent on operational activities, such as checking assortment and planogram compliance;
● Can be used in standalone mode or integrated with SFA tools.
2. IoT
● Smart and interconnected in-store assets, such as chillers, POSMs and displays;
● Saves visits from field reps and can be used to engage shoppers.
3. Crowdsourcing
● "Uber-like" approach to visiting POSs using local freelancers;
● Cost-effective solution to increase POS coverage.
4. Sales Optimization
● Data Science solution based on Machine Learning techniques.
● Prescriptive and Predictive algorithms to optimize sales and minimize costs.
From the ROI perspective, Image Recognition can be easily computed and offers a clear path for implementation. Human readings of the shelves can be biased, slow and inaccurate. On the other hand, Image Recognition based on AI enables around 30% reduction of the visit time and more than 95% accuracy.
About Inspector Cloud
Market-proven and award-winning Image Recognition based on AI. Our solution empowers elite CPG brands of the caliber of Mars, Nestlé and Unilever across several categories and thousands of SKUs.
More information at https://inspector-cloud.com/