Retail Execution Software for Merchandisers
July 06, 2023
It should come as no surprise that retail is an industry that's hard to succeed in. Not only do brick-and-mortar businesses face the threat of online shopping, but they also deal with the challenges of inflation, shrinking shelf space, and increased competition. Field sales reps and merchandisers have their work cut out for them when it comes to deciding which products should go where and how to best promote them.
That's where retail execution software comes in. With the right software solution, sales reps can benefit from improved visibility, better performance tracking, increased efficiency, and relevant data for reporting & analytics.
Improved Product Visibility
Anyone who has ever worked as a merchandiser, or in retail as a whole, will tell you that product visibility is one of the most important factors in making sales. When a product is highly visible, customers are more likely to notice it and consider purchasing it. On the other hand, if a product is hidden or difficult to find, it may go unnoticed, leading to lost sales and potentially lower profits. Effective merchandising involves strategically placing products in prominent positions throughout a store or online marketplace, ensuring that they are easily accessible to customers.
Sales teams, distributors, and merchandisers need to know where to place their products to make them more visible to consumers. And for that, they need access to accurate real-time data on which products are performing, where they are placed, and which locations are selling them. Retail execution software helps by providing real-time insights and key metrics, including range, inventory, facing counts, price checks, and more.
Better Product Performance Tracking
Merchandisers depend on accurate reports and analytics because they provide valuable insights into customer behavior, product performance, and market trends. By analyzing sales data, retailers can identify which products are selling well and which are not, and make informed decisions about product assortment, pricing, and promotions. Additionally, retailers can use data analysis to forecast demand and optimize their supply levels, ensuring that products are available when customers want them and reducing the risk of overstocking or stockouts.
With detailed analytics and reporting capabilities, retail execution software allows merchandisers to track performance metrics that can be used to make informed decisions and optimize sales operations.
Increased Efficiency for Sales Teams
Time is a finite resource for field sales and merchandising. Any tool that can help streamline tedious tasks and buy back a sales rep's precious time is extremely valuable. Retail execution software can make things more efficient by automating many of the administrative tasks that merchandisers have to perform, such as data entry, generating reports, and assigning tasks to sales staff.
Retail execution software can also increase efficiency and save valuable time through route optimization. Traveling from location to location is essential for field sales reps and merchandisers, but it can also be time-consuming. Every minute spent on the road is another minute sales reps can't spend working with customers, restocking shelves, or setting up displays. Route optimization allows merchandisers to maximize their time spent on-location by pre-planning their routes and tasks. This reduces travel time and ensures that they visit all the necessary stores during their scheduled visits.
Relevant Data to Drive Decisions
One of the biggest benefits of retail execution software is access and sharing of the relevant data needed to keep tabs on your products while their on the shelves. Sales reps and merchandisers can monitor inventory at each location their products are in stock and take orders on a mobile device. This ensures that inventory never runs out and is always available for sale.
Retail execution software also gives sales reps and merchandisers access to other valuable information they can analyze to determine how to better promote and sell their products. The right software can collect that data and consolidate it for reporting and analytics, which helps develop action plans for stronger sales in the future.
Perenso offers software solutions for field sales teams and merchandisers that ensure successful in-store performance while reducing time spent on administrative tasks. Schedule a demo today and see what Perenso can offer you.