Out of Stock Detection.
Out of Stock Detection
Shopper Engagement & Analytics
Retailers have access to a myriad of data for items sold from their POS systems. However, that’s only one piece to increasing basket size. The other is maintaining stocked shelves, and that’s where Focal comes in.
Why are we tackling this problem?
"Out-of-stocks" account for over $129 billion in lost retail sales in North America (~4% of revenue), or $1.1 trillion globally. A retail industry analysis commissioned by OrderDynamics and run by IHL showed that a majority of the issues driving out-of-stocks were bad processes, people problems, and data/systems issues.
Timely Alerts of on-shelf availability
Between a customer with a Focal device passing by an out-of-stock and a store associate receiving a notification is a matter of seconds with the Focal out-of-stock detection capabilities. Based on the retailer’s needs and specific processes, we can customize the way alerts are delivered; be it in a batch every hour, as soon as they happen, or upon a set of conditions.
Historical Bird’s Eye View
Data doesn’t mean anything if you don’t know how to interpret it. We strive to help you visualize key out-of-stock data from any period in a way that drives future decisions. For example, understanding on an aggregate level which geographical locations in the store are the biggest problem areas, or which low-velocity items are constantly out of stock that could be resulting in profit loss.