15 March 2021
Author: Kevin Green
Today we’re discussing accurately tracking the stock availability of your brand’s products in a store, which is another challenge often experienced by brands.
Field reps don’t have a lot of time in store to get the execution right, so every second counts.
Brands want their products to stand out on the shelf, to be seen by as many consumers as possible. However, if the stock availability in a store is wrong, this has a huge negative impact on brand execution and sales.
When a field rep visits a store, their mission is often to ensure that the execution of a particular SKU is correct. If there is a stock error, reps have an incomplete view of how to fix any execution problems that may arise.
Both issues mean that should a field rep need to fill a shelf but find the stock level is wrong, they won’t have the correct amount of stock to do it, leading to poor execution. And no one wants to see empty spaces on the shelves..
If left for long enough, both issues can cause problems in stores as their stock holdings are never up to date, thus making the field rep’s job harder, and leading to a long-term impact on execution, ROI and of course, sales.
DART is our EPOS analytics solution for field and head office users. It uses EPOS data to unlock fast insight and direct action for brands.
Recently we introduced a new DART feature called Phantom PI, which aims to solve incorrect stock holding issues by preventing instances where a brand’s products stop selling.
We have introduced smart, predictive analytics to the EPOS data, which allows DART to successfully identify stock errors with an accuracy of 90% for any brand.
DART does this by measuring trends in historic sales and stock levels, and their correlation, to understand what the true base stock level for every product in a store.
Sometimes the shelf might be full, other times it may have gaps. When receiving their alerts for the day, a field rep will receive automatically receive a Phantom PI alert telling them which stores have a stock error that must be corrected.
This has three benefits for brands who employ field teams:
This new feature in DART was built in response to the problems that field reps come up against on a regular basis. By fixing incorrect stock errors, products will remain on the shelf, being replenished regularly due to correct availability, ensuring that a brand’s execution is always on point.
It also saves time for field teams and retailers because reps will be able to provide evidence of proven stock issues to store staff, meaning corrective action can be taken immediately.
When a field rep is only in a store for less than 1% of the time it is open, they have limited opportunities to add value and fix issues that occur for the other the 99%. By introducing predictive analytics features like this, DART is enabling brands to deliver results even when no field reps are in store.
It’s a win win for brands, retailers and field reps!
EPOS data sits at the heart of this feature and is what powers DART as a whole. By using this data in the correct way, brands can sell more.
On April 1st we will be hosting a webinar on how you can use EPOS data to sell more. So join our Strategy and Marketing Director Gordon Neil, Chief Operation Officer of retail data experts, Retail Insight, and our Product Manager Kevin Green to find out how to sell more using EPOS data.