Computer vision module
image recognition technology
allows to reduce the time
spent on price
monitoring and increase its accuracy.
Employees need to take a few
photos of shelves and the system
will automatically
retrieve all necessary data - SKU,
price, category, equivalent
Why is it important?
Drop in sales
If the product is not available, both the manufacturer and the
distributor lose their profits. If the product is out-of-stock, 45%
of consumers will buy another product, 15% will postpone the
purchase, and 40% will buy somewhere else or refuse to buy at all.
Retailers and brands lose 1/3 of revenue annually due
to empty shelves in supermarkets.
Excessive stocks lead to a decrease in inventory turnover:
capital gets “frozen”, leading to the allocation of additional funds
for storing, relocation and sale of overstock merchandise.
Reputational Risk
Empty shelves and reduced product ranges decrease customer
traffic and have a negative impact on the outlet reputation.
When consumers can not find the desired product in one outlet,
they choose another one nearby, and, eventually, start shopping
at a competitor store regularly; consumers can choose an analogue
of the competing brand or leave without purchasing anything.
On the other hand, overstocking leads to product expiring
in warehouses and on shelves. A product, that has passed its shelf
life and is still on display, can seriously harm outlet reputation.
Drop in sales
If the product is not available, both the manufacturer and the
distributor lose their profits. If the product is out-of-stock, 45%
of consumers will buy another product, 15% will postpone the
purchase, and 40% will buy somewhere else or refuse to buy at all.
Retailers and brands lose 1/3 of revenue annually due
to empty shelves in supermarkets.
Excessive stocks lead to a decrease in inventory turnover:
capital gets “frozen”, leading to the allocation of additional funds
for storing, relocation and sale of overstock merchandise.
Reputational Risk
Empty shelves and reduced product ranges decrease customer
traffic and have a negative impact on the outlet reputation.
When consumers can not find the desired product in one outlet,
they choose another one nearby, and, eventually, start shopping
at a competitor store regularly; consumers can choose an analogue
of the competing brand or leave without purchasing anything.
On the other hand, overstocking leads to product expiring
in warehouses and on shelves. A product, that has passed its shelf
life and is still on display, can seriously harm outlet reputation.
