by Mehak Jaggi
January 10 2024 | 02 min read
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Product placement, customer interaction, and inventory movement leave a trail of valuable information. Yet, the true game-changer lies in the transformative process of converting this raw data into actionable insights that propel business growth.
Within the retail ecosystem, shelf data encompasses a rich tapestry of information, ranging from meticulous product positioning to nuanced customer behaviour. The unprocessed data holds the key to comprehending consumer preferences, streamlining inventory management, and elevating the overall buying experience. It is paramount to place the right product on the right shelf at the right time for optimal results.
Bizom Smart Merchandising—a groundbreaking solution that not only facilitates the translation of shelf data into actionable insights but also identifies gaps in the execution process. This innovative tool acts as a catalyst for driving business success.
Bizom Smart Merchandising simplifies the tracking of key performance indicators (KPIs) by making the process as effortless as clicking a photo. Let’s delve into some of its transformative features:
- Share of Shelf (SoS) Analysis: Measure and enhance SoS against competitor products for strategic shelf dominance.
- Out-of-Stock (OOS) Analysis: Evaluate OOS SKUs at a granular store level to optimise distribution and minimise stockouts.
- Pricing Analysis: Track pricing trends across various geographical regions, ensuring competitive pricing strategies.
- Secondary Displays and Promotion Effectiveness: Quantify the return on investment (ROI) of below-the-line (BTL) and trade promotions across diverse stores.
- Availability and Facing Compliance: Assess the effectiveness of brand facings by mapping facing efficiency against store sales.
- Planogram Compliance: Identify gaps in facing and arrangement concerning a planogram, ensuring adherence to visual merchandising standards.
In the data-driven landscape of retail, leveraging Bizom Smart Merchandising becomes a linchpin for achieving business success. By adopting these innovative technologies and strategically applying the insights derived, businesses can position themselves at the forefront of the competition, elevate customer satisfaction, and set the stage for sustained growth.
It’s crucial to emphasise that the genuine value lies not merely in collecting data but in the actionable insights derived from it. As technology continues to evolve, businesses that adeptly harness the power of shelf data through solutions like Bizom Smart Merchandising will undeniably shape the future trajectory of the retail industry.
Click here to learn more about it.
