The RI Retailer product suite focusses on ensuring the right offer is available for customers to purchase, maximising sales potential and minimising retail cost, through efficient use of store labour and process.
ITEM AVAILABILITY AND SALEABILITY
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. More importantly, making immediate interventions to recoup sales, with our Item Availability and Saleability product consistently delivers more than 0.5% increase in sales.
GROCERY WASTE AND MARKDOWN
Reducing fresh food waste is vital to not only maximise operating margins, but also to reduce total product to landfill. Up to 60% of a grocery retailer’s sales can come from fresh produce, yet there are few robust and proactive approaches to minimising waste and maximising sell through before end of life, and costs can easily exceed 5% of sales. When the data, analytics and processes are aligned utilising the RI’s Grocery Waste and Markdown product, savings in excess of 1% point of waste costs in the first year are achieved.
RETAIL EXECUTION AND COMPLIANCE
Promotional investment is often the second largest item on the category P&L, yet returns can be easily eroded by poor compliance at store level, with the missed sales opportunity compounded by a costly post-event hangover of stock. Equally the hours to implement new modular layouts for range reviews and NPD are significant, often accounting for 40% of total labour, but these activities are rarely targeted to the biggest opportunities. The RI Retail Execution and Compliance product alerts staff to make the most valuable and immediate changes, resulting in execution compliance increasing by more than 10%pts to exceed 93%.