Did you know that 64% of consumers are more likely to buy with a better in-store experience? (data from Salesforce). Several factors go into providing a great in-store experience. The key is to understand customer challenges before identifying appropriate solutions. According to research on improving the retail shopping experience, the top five shopper challenges are lack of on-shelf availability, inadequate customer service, inability to locate the product, long checkout lines, and category complexity.
From our experience of working with clients, we realize that these five challenges often come with three simple solutions – or as we call it, the “three-legged stool” of in-store customer satisfaction:
- Space Management
- Actionable Analytics
- Shelf Edge Execution
RetailGIS’ AI-supported solution suite – SmartPMX – supports these three functions to address all customer challenges successfully. Together, the product aids in transforming the retail experience for your customers.
SmartPMX was built to provide the highest level of visibility and identify actionable opportunities to drive sales and customer satisfaction.
Space Management with SmartMap
Space matters and contributes directly to improved ROI. McKinsey’s research indicates that AI-driven space optimization increases comp sales by up to 7%, and Capgemini points out that retailers can achieve a 15% increase in space productivity with artificial intelligence. Better space management also improves employee productivity, supply chain efficiency, and inventory management.
The critical foundation of improved space management includes visual & data records of every store, plan-o-gram attachments, accurate PLR store data, store flow, and spatial adjacencies. Our SmartMap has explicitly been built to support this foundation. SmartMap offers fast and cost-effective space capture and update. With 2D and 3D capture capabilities, SmartMap is engineered to provide ultimate space visibility, accountability, and actionable data. We also use LiDAR technology for space capture, contributing efficiently to better analytics. SmartMap also uses an AI-driven product locator and offers directed BOPIS and pick & put away.
On average, retailers effectively use only 60% of store space (Retail Space Utilization Trends 2023); however, SmartMap will work with you to improve this number in a significant way. Using SmartMap, we have mapped 12,225 stores and 6.5M fixture locations.
Actionable Insights with SmartAIX
72% of retailers say understanding customer and product behavior is critical to success. Actionable analytics offers a competitive advantage by improving operational and supply chain efficiency and contributes to better space utilization and productivity.
SmartAIX® is the leader in retail big data analytics as it was designed by and customized for each client by a team with a combined 100 years of store operations experience. SmartAIX provides AI-driven analytics using standard and client-specific models. Its targeted analytics supports plan-o-gram optimization, macro space optimization, and OSA optimization other than offering field communication tools and enhanced user reporting.
So far, using SmartAIX, we have analyzed 3.4B sales dollars and realized an average sales increase of 7%.
Shelf Edge Execution with SmartProject
AI-driven shelf-edge execution improves operational efficiency, inventory, and promotion management and reduces shrink. In fact, according to a McKinsey report, only 60% of plan-o-grams are executed correctly without AI. Additionally, several retailers regularly face labor-related challenges, which are best addressed with AI-enhanced field assistance.
SmartProject provides AI-enabled execution tools that support complete project management, customizable data collection, and complex audit and site survey utilities. It is an integrated retail execution platform designed to facilitate maximum speed and assure full accountability to ensure the highest ROI on your merchandising spend.
SmartProject Features:
- Complete project management
- Customizable data collection
- Complex audit utilities
- Site survey utilities
- Pos/fixture order management
- AI-enhanced issue resolution
- Photo & video capture
- Integrated scanning
- Integrated AI/image recognition
- AI-driven task management
- Gen AI-enhanced field assistance
- Field communication utilities
- Remote visibility utilities
Using SmartProject, we have managed 3.7M annual project orders and supported 57K field associates.
To learn more about how our solution can transform your store, schedule a demo with us.
