Heard of the retail apocalypse that wasn’t? Still, retailers face major challenges in today’s climate. Here are 6 key challenges facing retailers around the world.
Výzva #1: Merchandising
Hospitality and retail brands need to save time and reduce costs by implementing programmatic and brand standards. Execution is key.
, a cloud-based application for automating audits, action plans and tasks. Deploy and validate brand standards, tasks and remedial actions on sites with ease. Get real-time reports, signatures, videos and photo verification.
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Product compliance is still incredibly low. Studies show that 60% of promotional displays are not executed correctly. 60 procent! Properly executed retail displays register up to a 193% increase in sales.
audit merchandising execution can
quickly identify failed execution and implement corrections . Responding to poor execution within 5 days of campaign launch israel whatsapp number data can lead to a re-earning of 14.51 TP3T! Overall, setting deadlines, completing inventory, and executing merchandising campaigns on time and in full can increase same-store sales by 3.71 TP3T.
Loss prevention remains a very real challenge for retailers large and small. Globally, annual retail sales last year exceeded $100 billion! While cases of retail fraud and organized shoplifting gangs make headlines, nearly a quarter of retail losses come from a more common source: clerical error.
21% of the annual decline in retail sales stems from clerical and paper errors. Putting systems in place to streamline administrative processes and automate data entry can go a long way in reducing losses.
Lack of communication is the leading
cause of retail program building a community around failure 20%. Without it, product downloads will not be fully compliant; marketing and merchandising initiatives will fail. Time and money are wasted when retailers fail to implement a cohesive store communications strategy that includes two-way.
This means that most District/Area cg leads Managers spend 20+ hours per week just on the store visit process! Retailers who implement software to automate the store visit process realize significant savings in time and money.