RETAIL: Three Ways to Thrive in the CPG Retail Apocalypse
The CPG retail apocalypse is here and experts are issuing dire warnings that the fallout will hit its peak this year. Ultimately, the retail landscape...
The CPG retail apocalypse is here and experts are issuing dire warnings that the fallout will hit its peak this year. Ultimately, the retail landscape is changing, and the consumer goods organizations that thrive, regardless of the environment, do so because they embrace digital transformations. With advanced capabilities such as machine learning and artificial intelligence (AI), they build intelligent solutions and optimized workflows to achieve perfect retail execution in any environment.
With these three innovative strategies, firms can tune out the noise and focus on what's important- maximizing revenue potential.
1. See everything and truly understand your customers
During disruptive periods in the retail industry, factors that affect consumer goods (CG) companies across all channels change quickly and dramatically. Companies that thrive in the current environment not only use data to see more, but also to predict opportunities and challenges. Machine learning helps companies recognize trends and patterns across physical and digital channels, empowering CG companies to adapt strategies before changes occur.
Two-thirds of retailers see predicting demand as one of the greatest challenges facing retail supply chains – an area of opportunity in which CG companies can greatly assist with the necessary visibility.
2. Sell smart and maximize retail execution efficiency
Companies that flourish eliminate unnecessary, time-consuming tasks and streamline their workflows. They sell smarter than their competition and improve retail execution efficiency wherever possible.
Planning is an essential component of CPG Retail Activity Optimization, but optimal sales routes, locations to visit, and topics to cover require significant labor to create. This is another area where AI technology shines- automatically determining the most efficient routes and suggesting activity steps related to visit execution based on current data.
Two-thirds of retailers see predicting demand as one of the greatest challenges facing retail supply chains – an area of opportunity in which CG companies can greatly assist with the necessary visibility.
3. Build the perfect store and optimize your point of sale
Perceptual Intelligence software helps retail execution sales, merchandising, and delivery managers quickly determine the level of compliance within the store. By simply taking pictures of shelves, displays, or other points of purchase, digital image recognition instantly discerns what products are present and compares that to the optimal display, which greatly reduces the time auditors spend in store and increases their coverage opportunities and focus on higher value activities.
Additionally, the latest developments in augmented reality enables CG companies to virtually design and experience the perfect store before it’s built- an application that significantly streamlines the optimization process.
Turn the CPG retail apocalypse into a retail execution opportunity. Embracing new digital technologies such as machine learning and AI isn’t only about survival during a disruptive period. It’s about maximizing potential and making smarter decisions in any retail environment.
45
% OF BUSINESSES REPORT THAT AI SOLUTIONS IMPROVED PROCESS PERFORMANCE
25
% OF BUSINESS SAW A BOOST IN SALES LEVERAGING SALES DRIVERS, KPIS, AND DATA MEASUREMENTS
50
% OF BUSINESSES SAW A DECREASE IN STOCK OUTS AFTER IMPLEMENTING EXCEEDRA RETAIL EXECUTION SOLUTION
The tools to achieve perfect retail execution are within reach. Exceedra Retail Execution, built on the Microsoft Azure cloud platform, is a robust, flexible mobile solution designed to empower consumer goods companies to use data to drive efficiency in end-to-end operations.
You can keep up to date with what Exceedra & AFS Technologies are working on by following us on LinkedIn.
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