Praveen Gopalakrishnan, Co-founder and CEO
Its early morning on the day of monthly sales review at headquarters of a large CPG brand. The retail execution manager for one of the major product lines walked in confidently, expecting sales to have increased from a recent trade promotion done nationwide. Unlike previous promotions which did not break even, she was confident of meeting target this time. She had worked with Snap2Insight, a leading Retail Execution Analytics company to measure quality of promotion execution at every single store and address execution gaps early in the promotion window.
About 70 percent of purchase decisions are made in front of the shelf. Yet today, CPG brands have limited visibility into how their products and promotions are executed at the shelf. A brand cannot effectively compete at the shelf without knowing how their products are merchandized and how they stack up against competition. One of the biggest challenges in retail environment is the sheer variety of products and packaging, coupled with speed and volume of new product introductions across categories, making it incredibly difficult to manually measure and get perfect shelf execution data. That’s precisely the value proposition Snap2Insight’s proprietary and breakthrough AI technology brings to the table, helping CPG brands know real shelf truth from shelf photos.
Snap2Insight leverages its partnership with leading crowdsourcing vendors to gather shelf photos from retail stores. These shelf photos are analyzed in the cloud using Snap2Insight’s patent-pending AI technology, to recognize every single product. This is then compared against distribution plans (planograms) for each store to identify SKU-level distribution gaps, allowing CPG brands to work with their merchandiser to fix these gaps across stores and ensure planogram compliance.
In last one year, our proven technology has analyzed over a million shelf images across different product categories and retailers
An easy-to-use dashboard provides the list of stores as a downloadable Excel file that can be immediately sent to third-party merchandisers with the store numbers to fix shelf gaps. “In last one year, our proven technology has analyzed over a million shelf images across different product categories and retailers,” adds Praveen Gopalakrishnan, CEO and Co- Founder at Snap2Insight.
Lost sales due to out of stock is a hundred billion dollar opportunity for retailers. Poor shelf execution is one of the biggest drivers for out of stock at the shelf. Snap2Insight’s retailer solution enables retailers to quickly identify shelf gaps and plugged shelf spaces from shelf photos taken by robots or shelf cameras. Snap2Insight’s retail execution analytics platform automates shelf audits and provides near real time insights to help retailers understand what’s happening at their store shelves and improve customer’s shopping experience. Through deep learning and computer vision technology, Snap2Insight’s solution is bringing unprecedented visibility into shelf execution and efficiency improvements into shelf audits at retail stores, freeing up store associates to serve shoppers.
Though new to the industry, today Snap2Insight’s state-of-the-art solution combines actual shelf execution data with the point of sale and supply chain data to better evaluate the performance of shelf layouts and identify opportunities to optimize sales. “We can predict the sales lift with a particular intervention like placing a product at the right place with right number of facings on the shelf,” explains Gopalakrishnan.
With their Retail Execution Analytics Platform powered by AI, Snap2Insight aims to disrupt how retail shelf and promotion execution is measured and analysed, helping CPGs and retailers improve execution and increase. Snap2Insight enables CPGs and retailers to “know the shelf and win at the shelf.”