Retail brands face some challenges when it comes to in-store visibility of their products. They spend large sums of money on trade promotions, such as new or existing product campaigns and in-store product displays, however, they don’t know how those campaigns or in-store displays actually perform in-real time and which locations will yield the highest results. With the use of sense technology and advanced analytics, retail brands can:
Increase the ROI of their in-store product displays and/or product campaigns by testing locations and quickly adding more products and resources to the best-performing locations for higher sales velocity.
Expand shelf space and product visibility with the power to influence retailers through data-driven decisions and by showing them with the product performance metrics and how it could help them increase profitability.
Marketing agencies work closely with retail brands to ensure that they can maximize ROI with the right trade promotions, including existing or new product campaigns and in-store product displays. However, display companies are often faced with difficulties around comparing product display performance and proving the ROI of in-store promotions. With the use of sense technology and advanced analytics, retail brands can:
Demonstrate the ROI of in-store promotions, including of product displays and various product campaigns by using product performance measurements to show why there might be an increase or decrease in sales velocity.
Grow the relationship with their retail brand customers by identifying new opportunities to maximize ROI.
Distributors, in particular for the beverage industry, encounter an obstacle when it comes to measuring on-shelf availability of the products they are distributing to various retail locations. The challenge they face is that it is not possible to measure out-of-stock occurrences efficiently. This leads to potentially distributing products to stores that will yield a decrease in sales velocity. With the use of sense technology and advanced analytics, distributors can
Increase sales velocity by building an understanding of when and for how long there are product out-of-stock occurences, which also helps to give an idea of why longer out-of-stock occurences happen based on different locations.
Improve the partnerships they have formed with retailers by helping offer data-driven insights on on-shelf availability.
Display companies work with retail brands or their marketing agencies to design and build in-store product displays for them with the goal of driving higher engagement of the product and, ultimately, increasing ROI for their brand customers. The difficulty that display companies often find themselves being faced with is putting a monetary ROI value to these in-store product display as it is unknown how many more shoppers might buy a product based on a particular display. With the use of sense technology and advanced analytics, product display companies can:
Know the monetary ROI of their in-store product displays and find new ways to optimize them by measuring how many shoppers pass in front of the displays and how long they stay in front of them.
Grow the relationship with brands and marketing agencies by providing them with data-driven insights around the in-store product displays that they choose.
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