07th Jul, 2020
Marcom, , Designation
“67% of purchase decisions are made in-store, which highlights the significant effect that the store, aisle, and shelf have on a shopper’s decision.”
After being shut for more than two months due to the government-mandated lockdown, retailers who witnessed the footfall dip and a hairpin bend in their revenue at brick-and-mortar stores, will be itching to open their doors and get things back to business as usual. But today, when India has been ‘unlocked’, it is new turf for retailers – the new normal, newer customer needs, changed market dynamics, and so on & so forth. Although the economic slowdown is inevitable, it doesn’t mean that retailers can afford to sit back and do nothing. The current scenario presents a great opportunity for retailers that are able to adapt fast.
Thanks to modern technology, it is still possible to start store functioning at the soonest and grow your business, even during difficult times like these. So, beginning from the basics – what is required to get the store up & running quickly and what is required to ensure sales when the customer needs and priorities have all undergone a sea change?
Getting the right products which the people are expected to buy and getting them in right order to facilitate easier buying – these are the two prerequisites for the aforementioned. And therefore, let’s talk about planograms which is the backend ingredient for both these instances.
Planograms have been an essential element of retail sales strategy since the beginning. Automating planograms can help retailers up the ante in today’s unprecedented time since time has become more crucial than ever as a decisive entity. When traditional planogramming can take retailers anywhere between 4-8 weeks, automating the same can get things in order in just a matter of days. And not just time, savings happen on the operational cost front as well. A win-win for all.
Lessening the recovery time with automation boost
Planogram, which refers to a visual representation of store space planning to maximize sales and minimize wasted space, allows keeping up with sufficient inventory levels by assisting in the process of mapping the layout of your retail store. In short, planograms are critical to your store’s success. But traditional ways of manually building, updating and sharing planogram are detrimental in this age when the need of the hour is to hit the ground running as soon as possible. Leveraging Automation and Artificial Intelligence is the quickest and error-free way to build, update and deploy planograms across hundreds of stores in 50% less time and in just a few clicks. Sounds too good to be true? Let’s take an example.
When Walmart needed 4500 customized individual store planograms sometime back, they realized that doing it in the traditional way will require 57 weeks and that absolutely make no sense. That is when they shifted their strategy and experimented with planogram automation which reduced the program time from 57 weeks to 6 weeks.
Planogram Automation: The Secret Success Sauce for Retailers in 2020
Create Planograms (Store Layout and Product Setup) from Scratch within Minutes
Planograms are still largely created using traditional methods like Power Point and Excels, which is both times taking and requires mammoth efforts whenever planogram needs to be updated. Today’s dynamic environment requires a flexible planogram management system that drives the inclusion/exclusion of products and changes of placements to drive maximization of new/focused products.
With Automated Planogram Builder, you can create planograms from scratch within minutes in just a few clicks and send the planogram across stores and stakeholders instantly. For every new store onboarding, you can achieve:
- 90% reduction in manual work
- 50% reduction in rollout time
- 80% reduction in operating cost
Migration becomes as Easy as Pie
Automated Planogram Builder recognizes the planogram elements through AI-based technology. It reads the conventional planogram formats and enables easy and quick editing by leveraging AI capabilities. Recreating or updating the planogram with real-time comparison, and consequently disseminating the updated planograms across stores and stakeholders instantly can help:
- Reduce time, cost and efforts involved
- Bring data consistency and reliability in Planogram
- Real-time availability for updations at a store or multiple stores
Planogram Automation Tool enables effective management of store planograms and quick turnaround for planogram strategy implementation at stores. Promoters, store owners, and retail and channel managers in IT and peripheral and mobile industry can benefit from Planogram Automation in:
- Bulk swapping of products and replacing updates for more than one planogram
- Tracking the history of all changes done on the individual planogram
- A comprehensive view of all the details pertaining to store planogram like all category and model, store details etc.
Zero Time-lag and 100% Automation
With 100% transition of manual inputs into an automated tool, Planogram Compliance Audits become simpler and quicker. With improved interface providing visibility to manage seamless rollouts and build better planogram strategies, Automated Planogram Builder helps reduce errors and efforts. So, despite the apparent market-wide gloom, retailers can make the most of Planogram Automation with:
- Real-time communication with stakeholders on planogram roll outs
- 3X improvement in productivity and planogram setups
- 100% elimination of manual processes
Today, the context has changed, the need to automate is more pressing, but the challenge is familiar- quick store revival with faster planogram deployment. It’s time to switch to a far more agile operating model, so that retailers can expect a V-shaped return to their sales volumes, rather than the dreaded L-shaped. And with the economy gradually opening up in the country, Planogram Automation is a starting point for retailers to grab the opportunity to restage their brands.
When change is the only constant, it’s best to utilize moments like these to introspect, act and restage!