Trax Retail launches Signal-Based Merchandising
Trax Retail is offering Signal-Based Merchandising, providing brands with real-time visibility into what is happening within the store and on the shelf, down to the stock-keeping unit level.
SBM engages a network of shoppers, while they are already in the store, to gather real-time retail condition data points —what Trax calls signals—so brands can make quick and cost-effective decisions about their store-level execution.
"The fundamental principles of merchandising are broken. Brands don’t have visibility into what is happening in store aisles which results in inefficiencies and lost sales. Consumer habits ebb and flow, and brands need real-time visibility into store and shelf conditions to take corrective action within hours, not weeks,” said David Gottlieb, chief revenue officer at Trax Retail. “We’re on a mission to disrupt how the industry thinks about and utilizes retail execution today, and believe that our SBM solution will be transformative for the industry.”
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Once a CPG manufacturer identifies its priority and retailers, Trax deploys its network to collect data that shows out-of-stocks, average days of out-of-stocks, etc., and reports in real-time.
Based on the data collected, along with additional proprietary insights, the company provides a matrix of high-impact stores, allowing brands to improve ROI by only deploying in the stores with the greatest potential revenue impact.
Following the insights garnered from stores with the highest needs, Trax deploys its flexible workforce, Flexforce, in near real-time. The Flexforce evaluates the data, confirms insights and starts to take action, working with store managers, adjusting inventory, pulling product from the backroom, updating shelf tags and more to ensure accuracy.
Brands and retailers receive continued store-level reporting and Flexforce activation as needed, as well as an “end of program” ROI analysis.
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"With such rapid insight into on-shelf availability of our power SKUs, we were able to make quick decisions during a peak seasonal period in our category, ensuring our products were available where our customers needed them to be,” said Brian Felter, senior sales leader with BlueTriton Brands. “Our ability to review sales data, in-stock levels, and measurable ROI metrics in the dashboard allowed us to execute our merchandising strategy and ultimately direct resources to the right place, at the right time to drive fixes (and sales!). This program has definitely elevated our in-store execution and enhanced our ability to meet customer demand."