Increasing the presence of your products is accounts is a straightforward way of increasing your revenue. To achieve this you need two things:
Our gap analysis solution provides the second part. Using sales and location data, it finds the products that are not present in an account, but are selling well in its neighborhood. It then puts this info together with the under-performing competitive products in that account to build a robust and convincing sale story to be used by sales representatives.
While CPG companies have visibility to their -and sometimes competition- products in each account, there are still a lot of data that is not captured by simple reports on sales of a product in an account. For example you don't know where the product is located in the account, which competition products are in its vicinity, etc. By identifying products from shelf images we get access to all these extra info and can build various solutions on top of it:
This solution is similar to gap analysis, but the focus here is on the accounts that do carry your product. For each given product, it's compared to the sales on similar accounts in the neighborhood and also to the corresponding competitive product in the same account. This analysis identifies the under-performing and over-performing products in each store.
In the case of under-performing products in an account, the sales representatives should explore why the product is not selling well in that account. Maybe the display is not good, maybe they are out of stock, etc.