1. Numeric Distribution
Numeric distribution measures the percentage of stores in a defined market that carry a particular product. It's a basic indicator of product availability across the retail network.
Benefits:
- Helps understand market penetration.
- Identifies distribution gaps.
- Guides strategic decisions on where to expand or reduce distribution.
2. Facings / Price / Out-of-Stock (OOS)
Facings: Refers to the number of units of a product facing the customer on the shelf. It's crucial for visibility and sales potential.
Price: Monitoring and comparing the prices of products across different stores and competitors to ensure competitive pricing strategies.
Out-of-Stock (OOS): Tracks the frequency and duration products are out of stock, which can negatively impact sales and customer satisfaction.
Benefits:
- Ensures optimal shelf presence and visibility.
- Maintains competitive pricing.
- Reduces lost sales opportunities due to OOS.
3. Planogram Compliance
Planogram compliance ensures that products are displayed according to the predefined layout or planogram. This involves checking the positioning, number of facings, and overall arrangement on shelves.
Benefits:
- Enhances visual merchandising.
- Improves customer experience.
- Increases sales by optimizing product placement.
4. Competition Watch
Monitoring competitor activities including their product offerings, pricing, promotions, and shelf placement. This helps in understanding competitive dynamics and making informed strategic decisions.
Benefits:
- Identifies market trends.
- Adjusts strategies to stay competitive.
- Anticipates competitor moves.
5. Inventory
Management and auditing of stock levels to ensure optimal inventory turnover, reduce excess stock, and prevent stockouts.
Benefits:
- Optimizes stock levels.
- Reduces carrying costs.
- Improves supply chain efficiency.
6. Mystery Shopper
Use of anonymous shoppers to evaluate the customer experience, service quality, and compliance with brand standards in stores.
Benefits:
- Provides unbiased feedback on service quality.
- Identifies areas for improvement in customer service.
- Ensures brand standards are consistently met.
7. Satisfaction Surveys
Collecting feedback from customers about their shopping experience, product satisfaction, and overall brand perception through surveys.
Benefits:
- Measures customer satisfaction.
- Identifies areas for improvement.
- Informs strategic decisions to enhance customer experience.