By Chad on Aug 8, 2016 8:00:00 AM
“This looks great, but I don’t have a retail team so I am probably not quite ready” Or “I know there are lots of issues happening but there just isn’t enough ROI for me to send people to fix store issues.”
Here are the top 3 things we at Shelvspace see practiced by category leading suppliers.
Measure Your Performance
Ever hear the famous quote “You can’t improve, what you can’t measure”? It sounds obvious yet very few teams have a true system to manage store level retail. We hear many common reasons and barriers for this:
“Store level data is too expensive.”“My brokers handle this.”“The data is too old or hard to put together.”
The real fact is, none of these reasons are bigger problems then the sales loss problem Created by lack of measurement. If you aren’t able to tell me how big of an out of stock % you have or the rate of promotion compliance at key accounts right now, then likely you are leaving big money on the table.
Create Visibility
Most times the fix for major problems is simply a matter of transparency and communication. Those that can measure and share information most effectively are also the companies that get the most attention from brokers, distributors, and retailers in improving retail execution. It’s important to remember that lost sales hurts everyone, so if communicated appropriately brokers, distributors, and retailers all will have incentive to help improve what’s happening at the shelf.
Leverage Crowdsourcing
Sales teams often settle for a reality of “boots on the ground are not cost effective for us”, and stick to the same ways of managing at the headquarter level. By deploying a crowdsourcing team there are several new ways teams can lower the cost per store equation in ways that generate big ROI.
Want to learn more? Reach out to our team at Shelvspace to learn more.
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