On-shelf availability has a serious impact on turnover, reputation and Customer loyalty.
Losses from on-shelf availability reach around $634 bilion per year (according to IHL).
Eliminating out-of-stock brings a positive bottom-line impact of 0.75% over the annual revenue, or 7,5M for 1B of revenue. To put it in context, this metric translates into a massive 225M opportunity for a 30B Retailer. Do your math…
Grocery retail operates at out-of-stocks sometimes +8%.
Not all out-of-stock are substituted by Consumers in -36% of the occasions, this leads to abandoned sales and losses to competition.
Customer satisfaction and reputation are severely impacted.
The time to “do-nothing” it’s over. Now, we have SHELFN
Shelfn is based on an loT solution for sensorising shelves and an advanced AI based decision engine that identifies on-self stock movements.
Shelfn turns existing shelves into smart shelves, by adding advanced load sensors that can determine in real-time, with high accuracy, which products were picked from the shelf or returned to the shelf. A Cloud based AI engine determines which actions to take base on incoming data feeds.
All processing is done in real-time.
Shelfn technology can be retro-fitted to all existing Gondola and Rack based shelves, with no need to substitute the existing store infrastructure.