A lot of transformation, though, is going on in supermarkets these days, and many causes of such transformation can be traced to platforms for retail execution.
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.
Managing a consumer product category requires a great deal of planning and organization. Retail channels mean scattered points-of-sale, different shopper profiles, and a lot of information to be processed in order to get not only key performance indicators but also customer behavior insights. That is why retail audit tool adoption has taken off among manufacturers, distributors, and sales and marketing agencies: Right from the get-go, it eliminates clumsy paperwork and inefficient data transcription.
Now, artificial intelligence is bringing in the newest developments in retail audit system solutions with product recognition for on-shelf availability detection. What this means is that merchandisers at stores will only need to take one picture of the target product shelf and data – such as on-shelf availability and share of shelf – will be automatically extracted from it, making it possible for merchandising and distribution managers to generate instant reports and tweak their planning in order to avoid out-of-stocks.
Mobile technology has brought relief to merchandising manager: With a retail auditing app, field reps and auditors can fill in forms and checklists on their mobile devices and the data is then, upon synchronizing, transferred to the Cloud, where it can then be accessed for monitoring and reporting purposes.