ITEM AVAILABILITY AND SALEABILITY An industry proven product that drives saleability in-store for retailers, by identifying true lost sales caused by shelf and stock issues, and providing immediate actions to drive availability, sales and store labour performance. Rapid Intervention Out of stocks and other shelf merchandising issues, are a continued frustration for shoppers, retailers and manufacturers, equating to a minimum of 4% loss in potential sales. While forecast accuracy, shorter supply chains, simpler assortments, lower inventory and stronger compliance all have a part to play, many retailers have now proven the value of investing in big data analytics to improve their visibility and understanding of lost sales and more importantly, making immediate interventions to recoup sales. Saleable, not just available True customer availability is more than the presence of an item on shelf; it needs to be in the right location, adequately signed and in saleable condition. Across our global clients, we see that on average just over half of the issues at shelf that we identify can be fixed by the store staff immediately, the rest requiring guided upstream intervention. Of these store resolutions, on average only 29% are traditional OOS. *Independent or client validations conducted in-store across nine clients in eight countries, on multiple occasions during an 18 month period. 0.5% • Using available data it is possible to deliver a globally proven alert system to identify true lost sales, including substitution effects. • Every item is analysed during every trading hour, to direct store staff to fix the stock issues that they can immediately resolve that day. • This ensures items are both available and saleable, enabling more accurate replenishment planning and balanced store labour activities, which consistently deliver over 0.5% increase in sales. Causes under store control* Item condition not fit for sale Incorrect inventory data Inaccessible / incorrect location Stock in-store, not on-shelf Incorrect or missing label 3% 17% 22% 29% 29% Sales Increase
Transcript
ITEM AVAILABILITYAND SALEABILITYAn industry proven product that drives saleability in-store for retailers, by
identifying true lost sales caused by shelf and stock issues, and providing
immediate actions to drive availability, sales and store labour performance.
Rapid InterventionOut of stocks and other shelf merchandising issues, are a continued frustration for shoppers, retailers and manufacturers, equating to a minimum of 4% loss in potential sales.
While forecast accuracy, shorter supply chains, simpler assortments, lower inventory and stronger compliance all have a part to play, many retailers have now proven the value of investing in big data analytics to improve their visibility and understanding of lost sales and more importantly, making immediate interventions to recoup sales.
Saleable, not just availableTrue customer availability is more than the presence of an item on shelf; it needs to be in the right location, adequately signed and in saleable condition.
Across our global clients, we see that on average just over half of the issues at shelf that we identify can be fixed by the store staff immediately, the rest requiring guided upstream intervention. Of these store resolutions, on average only 29% are traditional OOS.
*Independent or client validations conducted in-store across nine clients in eight countries, on multiple occasions during an 18 month period.
0.5%
• Using available data it is possible to
deliver a globally proven alert system
to identify true lost sales, including
substitution effects.
• Every item is analysed during every
trading hour, to direct store staff to
fix the stock issues that they can
immediately resolve that day.
• This ensures items are both available
and saleable, enabling more
accurate replenishment planning
and balanced store labour activities,
which consistently deliver over 0.5%
increase in sales.
Causes under store control*
Item condition not fit for sale
Incorrect inventory data
Inaccessible / incorrect location
Stock in-store, not on-shelf
Incorrect or missing label3% 17% 22% 29% 29%
Sales Increase
See what your customers seeRI’s Item Availability and Saleability product provides a complete picture of the store estate, representative of what your customers see at the shelf, including features and secondary space.
Our proprietary algorithms run throughout all trading hours, covering all valid SKUs in all stores, regardless of format or location. When sales are being impacted, our product identifies, validates and prioritises the items, sending alerts directly to store staff to intervene and recoup sales utilising existing processes and technology.
Full rollout in four monthsWe currently process more than 3.6 billion item records of data each day through our Item Availability and Saleability product, for clients around the world. Our product doesn’t need any inaccessible data and we can begin modelling immediately, utilising common and available data sources to intelligently cluster stores, build sales baselines, understand promotions and disruptive events and monitor inventory.
Our hosting options are secure and fully scalable, designed to each client’s requirements. This flexibility enables us to rapidly deploy while minimising costs and timeframes, being sympathetic to internal IT roadmaps and avoiding costly hardware purchase.
