As brick-and-mortar retailers are struggling to cope with the shifting demand for online shopping, store space continues to get more expensive and yet grows in importance. Hence, it is imperative that retailers maximize the limited store space available and transfer their focus on optimizing all forms of space and fixture types irrespective of individual store configuration. Earlier retailers were deprived of functionalities that deliver a high level of optimization, often resulting in labor-intensive, sub-standard plans sent to store that were rarely implemented.
Today, retailers need innovative planogram software that enables a combination of assortment planning and customer-centric merchandising system to meet and exceed customer expectations and win over competitors. This is the major reason why they are ditching traditional planograms and opting for smart planograms. These technology-driven smart planograms make use of AI and advanced algorithms for better space planning and decision making. Even from the execution point of view, smart planograms are integrated, real-time and interactive.
Benefits of new-age planograms:
1. Integrated analytics and business insights.
For any planogram success, data is beyond crucial. Planogram relies heavily on data to create logical product placements, efficient customer engagement and to ensure aesthetic store appearance. Inability to leverage data can result in ignoring growth drivers at store level, sub-optimal sales conversion and failure in establishing sales authenticity. Then, the attempt to gain accurate productivity and return on investment is doomed! New age planograms allow precision in analytics for efficient data assessment, standardization and integration, as well as effective monitoring and feedback systems across various retail operations thereby optimizing resources and maximizing ROI. Following are the benefits associated with integrated analytics:
· Analyzing data allows retailers to understand what works and what needs improvement in their merchandising strategy.
· At the time of data transformation, data security ensures controlled access and prevents unauthorized use of data.
· Visualization and real-time insights for performance optimization and operational excellence.
2.Real-time planogram sharing
For a retail chain having stores at multiple locations, it is important to ensure that they are in sync with the company’s merchandising and promotional strategies. This means the sales, marketing and floor staff at different locations should have the same planogram design. Hence, planogram designs created should be shared across different team members. The team members may also use different browsers and devices.
For example, a floor staff might need the design on his mobile device while on the move rather than on a desktop or laptop. With modern cloud-based planogram software, planograms can be instantly shared across different departments and store locations. Users can not only view and edit planograms in real-time, they can also track and control all planograms shared online.
3. Effective compliance management
Compliance is an important element for ensuring planogram accuracy. Without compliance, retailers cannot measure the effectiveness of planograms. Even a well-designed planogram can yield sub-optimal results if it lacks continuous evaluation. However, measuring compliance is easier said than done. This is especially true in the case of retail chains with multiple store locations. Continuous observations by way of internal or retail audits can be both expensive and time-consuming. The compliance feature available in cloud-based planograms eliminates the need for such procedures.
Overview of Nexgen POG
Nexgen POG is a robust and easy-to-use visual merchandising tool, designed for quick and efficient planogramming. This planogram software is extremely user-friendly, which makes it easy for anyone in the organization to create store-specific planograms with minimum effort. Employees can access Nexgen POG by logging in with their username and password. It is equipped with a vast array of features like customizable templates, unlimited licensing, web-based sharing, easy compliance and much more- making it a preferred choice among brands worldwide. POG is a powerful cloud-based solution compatible with multiple devices and browsers. Nexgen POG ensures easy compliance reporting through a single online platform, standardized reporting system and efficient feedback system. In case of any non-compliance, just raise a ticket and report the non-compliance in detail and get them solved. Hence the compliance feature of Nexgen POG makes it an easy and cost-effective way to ensure appropriate planogram implementation on time!
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