Retail Growth: Technology That Boosts Sales

El growth of retail sales It is a proposal that consists of using technology with a methodology that contributes to increasing retail sales.

  • This technology, created by Teamcore, shows companies how to capitalize in real time on all the opportunities that will appear in the store.

In addition to meeting consumer expectations through a technology + methodology model that is scalable.

The goal is to bring it to all products, to all stores and make it repetitive and constant over time to add value to the business.

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3 factors to achieve retail sales growth

In accordance with current trends in retail, it is emphasized that stores must:

  1. Have full visibility of your entire business
  2. Keep the whole team aligned towards a common goal
  3. Know how to turn data into actions

Retail growth is how to act in real time when there is an opportunity and how to act in real time to take advantage of that opportunity.

To find out these OSA or deficiency indicators, there are many ways and there are four analytical methodology which can use:

  • Descriptive
  • Diagnosis
  • Predictive
  • Prescriptive

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Close-up of a customer paying with a credit card
Retail growth is how to act in real time when there is an opportunity and how to act in real time to take advantage of that opportunity.

Indicators

  • AXIS. Find out if the product is on the shelf or not. And if there is none, what are the problems to solve them in an agile way.
  • Lost sales. This is the impact of our products when they are not properly displayed at the point of sale.

And when this economic effect is known, we can understand the reasons why this problem occurs.

If there is one supply problem it’s either sold out or out of stock or there’s a problem with fulfillment. You have a product in stock and you just have to take it out or it’s a difference in stock.

What are these indicators for? To improve the consumer experience, create loyalty and make it more profitable, those who buy from us buy more from us, and those who don’t buy from us buy from us.

Lost sales are like looking at business, and when OSA is more client-oriented, consumer experienceso that every time you step on the shelf it is full and you always find the products you want to buy.

Hands using mobile payment, digital marketing.  Banking network.
The indicators serve to improve the consumer experience, generate loyalty among them and make them more profitable,

Alcance del grow retail

  • Improve product availability (reduces lost sales)
  • Increase the value of promotions
  • Manage the growth of multi-channel retailing
  • Empower and align teams towards a common goal

Impact on business

  • Increase your consumer base
  • Let today’s consumers buy more
  • An efficiency model based on prioritization according to economic value

There is a huge opportunity in these indicators that, if activated, can be capitalized on by directly increasing product sales.

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