September 30, 2021 | 01 min read
Living in this 24-hour world, we are all spoilt with over 20-25 options for each and every product. May it be toothpaste we use or the ginger-garlic sachets we buy to cook.
And although too many options end up taking too much time to choose, each product is finding its audience and growing its market.
Yet somewhere, every product is failing to bloom in some territory on the globe.
Normal logic would say that the demand from that location is low. But let’s calculate backwards.
Unlike e-commerce where supply chases demand, in the world of retail, the supply of products compliments the demand for the product in the market. Which, significantly depends on the ability of every sales rep to place the “right sales order” every time.
A “right order” is the right mix of products and quantities that are in sync with the demand of the market and the retailer’s capability to sell.
But then, can one FMCG manufacturing brand, ace it all? Can every field force know exactly what each and every retailer should order?
They can’t and they don’t. It’s majorly guesswork and zero game plan.
Most of the time, with the aim to sell more, sales reps try to make retailers order higher units of the same product and instigate retailers to stock a few units of new products, helping the brand penetrate the market and increase sales.
But this time-consuming guess is often a waste when the retailer fails to sell those products in the market and ends up returning the stocks.
This time spent by hundreds and thousands of FMCG salespeople on random guesswork can hamper the profitability of the business.
To fix this and back actions with data, we have created a new solution – Smart Basket, which enables FMCG salesmen to sell smartly to Kiranas (mom n pop stores).
With Bizom Smart Basket, we will use AI to make secondary sales ordering smarter and simpler. Our algorithms will predict the “right” next order for every single retail outlet, which will help the brand increase the share of focus SKUs and promote the right set of new product quantities.
Thus, at an aggregate level, this will promote growth in the average order size per outlet and will also increase the average product lines being sold for all brands.
Since we all live in an experience economy, with the festive season reaching our shore after last year’s prolonged lockdown, consumers are all set to get back to their touch-and-feel shopping sprees and spoil themselves with products they love.
The first 3 weeks of September 2021 are proof of that, as we saw a strong push and growth of Festival / Gift SKUs to kiranas across India.
Categories like Indian mithais, packaged foods, confectionaries and beverages are growing in double digits, while home staples and personal care products are also gaining momentum.
The festive season boost has pushed Kirana sales forward by 2.2% MOM, which is expected to a higher rise in the coming months.
This makes it pivotal for FMCG brands to supply the right set of products at the right source of demand, with minimum effort and maximum efficiency from their salespeople.
With Bizom Smart Basket, retailers can procure optimally and salespeople can spend their efforts in the market in a more productive manner to grow the business. Further, by implementing the Smart Basket solution, brands can omit stock-out situations at outlets and reduce the age-old problem of stock dumping tremendously.
So come connect with us and fire up your festive sales with Bizom Smart Basket. Mail us at firstname.lastname@example.org and schedule a free demo with our team and explore this solution.