Improve In-Store Merchandising with Real-Time Inventory Data - Google Docs

Improve In-Store Merchandising with Real-Time Inventory Data

Finding items is as simple as pressing a button these days, thanks to the bewildering number of purchasing options and platforms. Customers, on the other hand, will leave if they can’t find the items they desire. To prevent losing a transaction, let alone a customer, businesses must make wise merchandising decisions that link customers with the items they desire via the channels they like before they go elsewhere. Still, as merchants merge online and physical channels, the problems of what to carry, how much to stock, and which promotions to provide get increasingly complicated. Retailers may gain a competitive edge and enhance in-store merchandising and sales by obtaining and analyzing real time merchandising solution.

In an increasingly online and contactless shopping world, retailers of all sizes must swiftly adapt and position themselves for success. What does that include and what does it signify for your company? Every encounter must meet the ever-changing consumer expectations, and inventory visibility is critical for this – beginning with the first point of contact in any digital experience. You risk losing customers if you don’t have real time digital merchandising solutions. They’ll go to another shop where they know they can buy how and when they want.

real time merchandising solution

One of the most difficult challenges many merchants have is determining exactly what inventory is now available, estimating the shipping time for that inventory, and then promising customers a precise delivery time within minutes.

Real-time inventory can assist you enhance in-store merchandising in five ways:

  • You no longer need to be out of stock. You can spend less time thinking about stock-out scenarios and more time concentrating on your customers with real-time inventory visibility. Why? Because your inventory across all channels is always correct and up-to-date. If a customer doesn’t find an item they want online, you may quickly send them to a nearby store that has the item in stock.
  • Improve the price of your products. You may assess the feasibility of your existing pricing plan by comparing real-time product search results to sales outcomes. If buyers are searching for a specific product in large numbers yet conversion rates are low, it’s time to reconsider your product price approach.
  • Be always in style. Stop guessing what’s in the stockings! Analyze what goods are selling well, when, and where to have a better knowledge of client purchasing behaviors.
  • View real-time information on product searches to improve ROI on targeted promotions. Retailers may provide geo-targeted discounts suited to consumer categories, including mobile, using data-backed insights.
  • Customers who are happy are more likely to spend money. A successful retail business is built on satisfied consumers. Customers nowadays have high expectations and anticipate seamless, straightforward purchasing experiences. Shoppers can easily locate the items they want in the places they choose thanks to inventory visibility. As a result, you’ve won the sale.
Real time inventory

A digital roadmap can help you get started on the path to instant value and long-term advantages. Consolidating siloed inventory that is spread across your supply chain ecosystem might be the first step. You can provide fulfillment capabilities and services to minimize time to completion and meet customer expectations if you have a real-time image of your entire inventory. The idea is to have a strategy and to start small, depending on how best to satisfy consumer demands.

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