The retail sector is a significant contributor in the economy of the European Union. Retail sales in Europe will reach approximately 3.55 trillion euros in 2023
— experts from IBA Group concluded.
EUROPE, EUROPE, EUROPE, June 1, 2023/EINPresswire.com/ — The retail sector is a significant contributor in the economy of the European Union. Retail sales in Europe will reach approximately 3.55 trillion euros in 2023. One of the tools that help maintain high sales and, accordingly, inflow of profits is a merchandising audit.
A detailed and well-structured review of merchandising is essential to ensure that retailers comply with the agreements they have with FMCG manufacturers and distributors. The agreements stipulate shelf space, display, prices and other parameters that ultimately affect sales.
As a rule, merchandisers may encounter various problems during the audit. Experts in retail automation from the IBA Group IT Company spoke about them in detail.
1. Manual paperwork
There is always a risk of human error resulting in faults and inaccuracies. The long-term consequences of these errors can affect business performance.
2. Inability to assess correct fulfillment of assignments
Manual processes cannot be easily supervised. Not only are they time-consuming, but they also require constant elimination of errors. In addition, managers just cannot follow everything in order to quickly manage employees in the store.
3. Lack of real-time analytics
Analytical reports without automation may contain outdated or incomplete information. Employees have no other choice but to create reports based on their subjective judgment.
Consequently, managers are more likely to make poor management decisions. Thus, the difficulties in conducting an audit may adversely affect the sales of goods in individual stores or even entire retail chains.
One of the options to address these problems is merchandising automation. IT systems for retail allow users to get rid of manual work, reduce the number of errors and optimize processes. For example, Goods Checker IT solution is popular in Europe: it helps to improve the efficiency of merchandising. It is an innovative computer vision powered ecosystem that offers its user’s functionality to create planograms, compare the layout against a planogram, and generate real-time analytics.
Dzmitry
IBA
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