A global confectionery brand improved its Product Lines sold by 2.8x in just 3 months by leveraging Bizom Smart Basket.
Sitting in a 4X4 room with hundreds of products, created with multiple variations like size, flavour, etc.; a retailer still knows exactly what to give us when we ask for it. May it be a new product whose packaging caught our eye but we can’t name it, or some product we’ve heard of, although we don’t know what it looks like.
Retailers really know their products. Even while catering to a crowd where everyone wants something different. You ask for it, and they’ll nod their heads and survey their shops like a hawk and locate it.
Coming from a background where most of these small retailers are not highly educated, it’s quite remarkable to see how well they have groomed themselves to sell.
And to help these sellers know what to sell, currently, it is the duty of the sales reps of FMCG brands to give retailers the necessary retail intelligence.
But given that sales reps are mostly focused on pushing stocks, they often fail to realize the current demand present in the market and don’t make the retailer’s stock optimally.
As a result, the age-old relationships built with these partners start to sour and competitors step in and cream the opportunity.
But the reality remains that retailers do require help. However, sales reps don’t always have the ability to help them.
How will a sales rep who has joined the company recently know which territory will have how much demand for which product? How will salespeople know exactly what products are suitable for every single retailer, every time? How can a sales rep optimally measure what units to give in every retail outlet so as to avoid stock dumping?
A salesman who visits the retailer might be carrying availability for say 50-60 SKUs. However, he ends up selling only 5-6 of those simply because the 5 minutes of conversation time he has with retailers is utilized to place his popular products there. Therein lies the inefficiency of this system.
How does he decide which new and possibly larger-sized SKUs can sell?
Possible solution: Would really help to know how other products in the category sells in the region.
How can he decide if a new product has relevance in the geography?
Possible solution: Identify volumes of similar products in that micro market.
Coming up to festivals, how does he identify which products get spiked by how much so that his products don’t stick out?
Possible solution: Identify festival sales of own and category products from past experience in present momentum.
Thus, the best solution is retail intelligence, and in this case, an advanced retail tech solution called Smart Basket.
Smart Basket is an algorithm that tells sales reps the perfect order for every retailer, every single time! It takes into account the past orders placed by the retailer along with other parameters like the present demand in the market and the location of the store and informs salespeople exactly what products and what quantities would be best suited for the seller. The inputs to the algorithm are from strong insights into business so you get solid control over what products need to be sold & where.
So when this tool operates at a micro-market level, it creates more efficiency within the supply chain, which results in an increase in average drop size/order and average product lines sold. There is also an evident dip in sales return and a reduction in out-of-stock situations.
Smart Basket is the tool for growing sales and growing them in the right way. It creates an advantage for sales reps to always make the right decisions while making a sale, and acts as an advisor to retailers to stock right, ensuring that both the retailer and the FMCG brand grow.
Increasing sales will not be a priority. Use Bizom Smart Basket to make sales always sail smooth and sail smart.
To explore this advanced ordering tool, mail us at firstname.lastname@example.org and request a free demo.