New Partnership with Retech Labs Provides Symphony RetailAI Customers with Cutting-Edge Image Recognition and Artificial Intelligence Technology to Address Category Performance and Compliance Gaps in Real Time
Symphony RetailAI, the leading global provider of AI-enabled revenue growth management solutions and customer-centric insights for retailers and CPG manufacturers across the entire value chain, announced the launch of Symphony RetailAI Shelf Intelligence, a software solution that empowers retailers to quickly and easily design more engaging and profitable store layouts, and ensure that planogram compliance improves on-shelf availability, store inventory accuracy, promotion execution and product performance.
Developed with partner ReTech Labs, a global leader in retail technology innovation, focusing on building brands and transforming physical stores into the efficient and automated stores of the future, Symphony RetailAI Shelf Intelligence is designed to deliver seamless in-store execution with real-time visibility across the retailer and brand ecosystem. The solution is built on innovative technologies from both companies that are proven to significantly improve the efficiency of category planning and execution that support Symphony RetailAI’s Agile Merchandising for retailers and CPG manufacturers. Shelf Intelligence includes:
- CINDE (Conversational INsights Decision Engine) Symphony RetailAI’s conversational, AI-enabled Personal Decision Coach specifically designed for retail the first and only solution of its kind available in the market.
- Rebotics shelf capture platform from ReTech Labs that delivers deep-learning image recognition and task management capabilities through mobile devices, in-store cameras and robots – allowing retailers to see the shelf, recognize actual product status and compare product and price information to planograms in real time.
Symphony RetailAI Shelf Intelligence uniquely allows retailers to realize end-to-end category optimization by connecting the analysis of store layouts and category planning to the actual conditions on the store floor. For example, instead of doing periodic reviews that take hours or even days to complete, retailers can use Rebotics shelf capture technology to compare real-time category information to the optimal planogram at any moment. CINDE analyzes this data in real time to identify inventory inaccuracies and compliance opportunities, and provides actionable recommendations that can mobilize associates to address performance opportunities and ensure compliance.
“In this fast-moving retail environment, retailers and CPGs are struggling to collect the field data they need to identify opportunity gaps and improve operational efficiency,” said Vish Kirpalani, Head of User Experience and Innovation, Symphony RetailAI. “Working with ReTech Labs, we launched Symphony RetailAI Shelf Intelligence to deliver unique and meaningful insights that offer a real-time picture of the shelf. With this solution, retailers and CPGs can quickly understand stock status, on shelf promotion and package compliance, competitive insights, share of shelf, category flow and other business-critical insights that extract a number of unique opportunities.”
The applications for retailers and CPGs to identify and realize optimal growth through Symphony RetailAI Shelf Intelligence include:
- Trade fund allocation: Allows CPGs and retailers to communicate the effectiveness and distribution of trade funds by working from a single source of truth.
- New item, promotion and value package programs: Offers real-time scorecards on brand and new product introductions; provides deep insights on in-store promotion execution.
- Out-of-stocks and retail execution: Provides real-time and on-demand insights on retail store execution and effectiveness.
- Competitive intelligence: Allows CPGs to analyze share of shelf with other brands, promotional tactics, placements and displays in a single view.
- Label allocation: Delivers real-time insights identifying required shelf label changes; improves shelf label accuracy, labor resource allocation, and improve consumer demand signal quality.
- Product days of supply: Presents a holistic, interactive timeline of shelf activity and identifies opportunities for growth and optimization.
- Reset: Significantly reduces the amount of time and money required to develop and keep optimal planograms 100% compliant.
- Reverse planogram: Analyzes shopper behavior and store planograms to enable consumer-driven shelf planning.
“Although store-specific planograms, assortments, and promotions are becoming key in keeping up with changing consumer behaviors and demands, there is significant opportunity to close the gap between store shelf plans and store shelf reality,” said Abhi Beniwal, CEO, ReTech Labs. “Through computer vision and artificial intelligence, Rebotics is helping retailers and CPG manufacturers execute and maintain perfect store-specific planograms and promotions in a cost-effective manner while enhancing top-line sales. Our partnership with Symphony RetailAI closes the loop for on-shelf availability, planograms compliance, accurate store inventory and promotion execution and compliance.”