Without data, there’s no use of a planogram! Analytics is the discovery, interpretation, and communication of meaningful patterns in data. Planogram analytics gives you insights on various aspects of shelf space planning.
Since planograms are a combination of logical product placement, aesthetic appeal and data, the role that data plays in planograms cannot be underestimated.
In fact, data is beyond crucial for a planogram!
Product placement directly impacts sales and requires accurate space planning. It’s often a complex and time-consuming process with many variables to consider. In the past, users relied on their judgement to make important decisions related to product planning, which hasn’t always yielded positive results.
Planogram analytics shows you exactly where and what products are performing- where they are weak and how you can improve them. Retail analytics simplifies and streamline the space planning process which will lead to maximising sales. Planogram analytics make the following tasks easier.
1. Shelf Performance Analysis
Analytics gives the data about how a category or product is performing. Your sales can be increased by allowing more space to good products and less space to less performing products.
2. Shelf Replenishment
From analytics, you can understand which products most in demand are, so that what are to be placed in the best locations in your store.
3. Stock Replenishment
Stock needs to be continually filled to ensure that shelves appear fully stocked. Without correct data about the stock condition, there can be out of stocks, which negatively impact your sales.
Though space planners have to regularly update planograms with new sales data you can optimise your product and store performance by using the analytics data.
We will be discussing more on planogram analytics in the upcoming blogs.