Merchandising in the food industry has grown increasingly complex due to changes in demographics, consumer behavior, shopping preferences, nutrition awareness, environmental concerns, technological advancements, and cultural trends. Central to managing these factors is the category manager, backed by a team of sales and category management professionals on the CPG side. These teams often operate independently to obtain genuine consumer insights.
A clear retailer strategy, supported by unbiased data from CPG partners, delivers an excellent customer experience by ensuring product availability, optimal placement, in-stock conditions, and inspiring displays throughout the store. These outcomes are driven by the space planning function, whose primary goal is to advance and implement the merchandising strategy.
Tools were developed to implement these decisions efficiently from the central office down to the store level. However, limitations in technology tools, stagnation in category management principles, gaps in the development of space planning teams, and the increasing complexity of merchandising have created significant barriers for current space planning operations.
These limitations hinder agility, leading to suboptimal product placement and reduced responsiveness to market changes. As a result, retailers struggle to adapt quickly, impacting overall customer satisfaction and sales performance. Addressing these challenges requires innovative solutions and continuous improvement in space planning practices.
This is where we believe 345 Global’s platform will be a game changer. It not only overcomes the current limitations posed by myriad of tools but also evolves the industry to a new level. AI-based digital twin technology allow users to interact with rich visualizations of the platform and use data in a new, meaningful way to make efficient decisions. This platform has the capability to manage, maintain, and modify thousands of variations down to the store and category levels, processing them in a fraction of the time and yielding highly productive outcomes. When this platform is integrated with a sound merchandising strategy, it delivers an unparalleled customer experience and improvements in performance across all indicators.
We are excited to partner with 345 Global and help retailers, brands, and solution providers improve their performance with these key capabilities.
#RetailInnovation #AIinMerchandising #CustomerExperience #345Global #SpacePlanningSolutions
Mark Edwards Mark Deuschle Manish Sharma Sri Rajagopalan Parag Shah
6