Mobile technology brought with it the ability to capture data with smartphones and tablets as well as GPS tracking of such devices. It was just a matter of time until retail audit platforms with field force tracking and data collection features started to be developed. But what are the biggest advantages of these types of software?
Knowing if a product is available at stores is of utmost concern for many managers at CPG companies: from merchandising to retail channel operations and from marketing to finance, many departments have their performance measured by how well revenue grows during a fiscal year. Product shortages or recurring stocking issues, however, can seriously affect revenues, especially because shoppers may switch brands because of these issues.
Traditional pen-and-paper store audits do not comply with the agility necessary for such situations, since it might take quite a while for the information to go from the rep performing the audit to the person responsible for correcting the issue. An in store merchandising software is an ideal way to monitor mission-critical situations at stores.
Artificial Intelligence (AI) is a reality in online shopping. Who hasn’t seen a “relevant” ad on social media right after doing a web search on a certain product? Now retail image recognition is bringing artificial intelligence to store shelves as systems for retail execution start incorporating this technology.