Shelfbucks can increase the ROI with an interactive dashboard about program performance:
Your plan for continuous process improvement starts with:
- Increased yield from brands’ promotional spend, optimizing trade allowance
- Ensure the right displays are in the right stores, enhancing labor efficiency
- Improve DSD and store service personnel visibility and communication
- Improved store targeting over many programs and years
- Identify the most popular displays; eliminate least popular displays
- Improved execution while the program is on the selling floor with notifications and feed back
- Improved SKU mix based on replacing low performing SKU's the following year where all the sales came from one product and not much from others.
- Reduce unplanned inventory markdowns
- Improve the shopper experience
This is consistent with our aim to embed continuous process improvement so every program gets better every year.
The CPG brands and retailers have known for a long time the best way to drive incremental sales is with displays. There's been plenty of data on that for 10 or 20 years now. The problem is all that data has been on a fairly aggregate bases. It hasn't been store by store. It certainly hasn't been display by display.
The truth is today's information is sample-based (audits cover ~ 10% of stores with a one-day visit) and lagged (several weeks, making it unusable for operations and daily in-store conditions that affect consumers' purchase decisions). This "averaging" effect leads to somewhat inaccurate conclusions about overall program results, and more importantly, misses the opportunity to improve upon both the ones that appear to work and to convert the ones that don't, to clear winners. The result is not only a well-known friction between CPG's and retailers, but also wasted merchandising dollars and most importantly, missed sales opportunities.
The retailer really wants to see higher category sales. They just don't want to see a reallocation between brands. The manufacture, as brand A, wants to see more brand A sold and less brand B get sold. The manufacture really does not care if the category increases, all they care about is brand A.The retailer and the manufacture don't necessarily have the same goals.
"Why Trust is Important
It is imperative for retailers and manufacturers to promote an environment of trust. Retailers need to know manufacturers are dependable, and manufacturers need to know retailers are promoting their products in the most effective manner possible. When advertising and marketing is the best it can be, both the manufacturer and the retailer win. The name of the game is sales, a metric that can be increased by joint efforts from both sides."...Understanding The Manufacturer/Retailer Relationship
Sometimes it works out that you satisfy both. TheShelfbucks MEASURESM interactive dashboard will show the data by display program for the life of the program. This is comprehensive rather than a inaccurate sampling program. This information will allow the manufacturers and retailers to work together and identify which brands and which categories do achieve both category growth and brand growth. Therefore it becomes a win-win for both of them. It's not, "I win and you don't", or "you win and I don't". That's one of the most important things that Shelfbucks will be able to facilitate in addition to quantifying specifically and precisely how well displays work."
Shelfbucks can now collect this data by individual store and buy individual display within the store. We know precisely how much of a lift, how much additional sales, that display is generating.
We also know whether the displays are being set up the way they are supposed to be.
If you have a display that is generating a 60% increase in sales but only 30% of those displays are at actually getting set up you're losing the potential sales you could have if those other 70% were set up. This data is immensely valuable to both retailers and CPG companies.
The important thing is that the data points are the missing link. The thing that has not been there that allows the CPGs and retailers to make sense of all the other data they have.
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