Nowadays, artificial intelligence is becoming an indispensable tool for retail trade. As reported by McKinsey, in companies, which use AI, revenue is increased by 3-5% and expenses are reduced by 15%. Solutions based on computer vision are particularly efficient. They computerise merchandise display, analyse customer behaviour and optimise product layout. Despite general belief, to bring …
Manual merchandising has hidden costs that can significantly impact a retailer’s profitability, such as high labor expenses, human errors, and missed sales opportunities. In this article, we will identify these hidden costs of manual merchandising and how to fix them, exploring practical solutions to address them. By understanding the hidden costs of manual merchandising and …
The Hidden Costs of Manual Merchandising and How to Fix Them Efficiently Read More »
Merchandising in retail involves the organization, display, and promotion of products to boost sales and improve shopping experiences. It’s about how products are presented to attract customers and encourage purchases. This article will dive into the merchandising definition and explore essential strategies like store layout, product displays, and pricing. You’ll also discover the benefits of …
Retail Merchandising Explained: Key Strategies for Success Read More »
Merchandisers are responsible for ensuring order on merchandise shelves. Retailers and manufacturers hire specialists who will audit stores and supermarkets daily. Merchandisers do not only check the display of SKU, their responsibilities include control of the filling of the shelves and monitoring the balances in store. The results of their work are documented by a …
“Growth hacking”: automating merchandising for retail Read More »
Consumer market across the world is experiencing transformation. Traditional approaches to user segmentation and sales organization are no longer as effective as they used to be. According to research data, companies lose over 4 billion dollars per year due to ineffective management of retail sales. FMCG companies must quickly adapt to the new realities. The …
What FMCG Managers Must Know About Modern Consumers Read More »
Beauty retail merchandising plays an integral role in how customers view brands and whether they will decide to purchase a brand product. In this case, every centimeter of shelf space should be used to achieve the desired effect, because improper display of goods on the shelves can lead to a significant decrease in sales. This …
Beauty Retail Merchandising: Modern Merchandising Display Management Read More »
Today, the battle for customers is won not in the boardroom, but on the store shelves. With an average out-of-stock rate of 7.1%, the industry loses about $4.3 billion a year — and that’s only counting the 9% of shoppers who abandon their purchase entirely if they can’t find their product. Out-of-stock, incorrect price tags …
Why Your Product Isn’t Being Sold and How to Fix It: The Truth about Retail Execution Read More »
Traditional methods of checking goods display for compliance with the planogram are time-consuming for employees: managers and merchandisers. The major consequence of such a process is its labor intensity and, therefore, low accuracy and irrelevance of analytical reports used as the basis for making assumptions about the success of a particular promotion strategy and for …
Every Minute Counts: How Neural Networks Save Managers’ Time Read More »
Business without automation is a dead-end road. Nowadays, even small companies automate their processes, for example, using CRM, BI or chatbots. However, many IT projects do not provide the efficiency expected by managers at the start. What could be done? Assess the feasibility of investments in advance. Most often, this is calculated using the return …
No product, no revenue. According to NielsenIQ survey, companies lose up to 46% of possible sales due to lack of products on the shelves. When confronted with empty shelves, 20% of consumers postponed their purchase, 10% of consumers purchased the item elsewhere, and 16% of consumers shifted to an online source. Empty shelves ultimately result …
How to Avoid Losing Profits Due to Empty Shelves? [Success Story] Read More »
