In a competitive Australian FMCG industry where the sales growth presently on an annual basis, is hovering around the 3-4% compared to 8-9% more than 10-12 years ago, the FMCG companies have become more focused on what is happening in-store with the share of their brands versus competition.
The focus on in-store activity is share of shelf, more so premium eye-level positions. Presence of their brands within the store, out of stock situations, cheeky competitors displacing shelf gaps, price points, getting the maximum mileage with the placement of point of sale material (POSM).
The checks are normally carried out by the brand owners’ sales representatives or merchandisers or by brokerage companies using the manual entry for ensuring that the in-store execution is according to the set planogram.
This entails a lot of time spent by the person doing the audit given the numbers of KPIs per store and the number of calls per day required by the company and the result, the audit can be error-prone.
The FMCG companies can use the store visits of their valuable people more efficiently.
HOW SHELFWATCH HELPS PERFECT YOUR IN-STORE EXECUTION?
Using Artificial Intelligence (AI) and advanced analytics at scale. One such innovation is the development of image recognition solutions based on AI.
ShelfWatch is the world’s most advanced AI tool for measuring in-store execution whether it be planogram, out of stock, or POSM placement. It is fast (near real-time), accurate, and robust enough to run on the dirtiest data.
All it requires is for the salesperson/merchandiser (of the brand owner or the broker) to take a photograph of the shelves and it automatically gets uploaded to the cloud via the ShelfWatch app. The analysis is done within minutes and comes back in real-time depending on the KPIs requested by the customer, for example, the share of shelf space as per the planogram, out of stock so the brand owner representative can get the store manager to take immediate action to order stocks from the central warehouse.
Above all, ShelfWatch has a custom-made dashboard that can also be made available for the management for providing analysis of the share of shelf, out of stock, and more that enables them to perfect their in-store execution and improve the strategies for the growth of the brands within the categories.
Liked the blog? Check out our other blogs to see how image recognition technology can help brands improve their execution strategies in retail.
Want to see how your own brand is performing on the shelves? Click here to schedule a free demo for ShelfWatch.
- How ShelfWatch Helps Perfect Your In-Store Execution - May 6, 2020