In the ever-shifting retail landscape and the limited store-level data available in the liquor industry, brand owners must continually adapt and try new techniques to achieve sales growth. What if there was a more intuitive way for your sales team to analyse sales insights and leverage that data to drive growth?
Allocating sales resources to stores is simple when point-of-sale (POS) is available, but in our unique industry, store-level data is not readily accessible. StayinFront RDI created Predictive Analytics® to bridge that void and provide greater confidence in resource planning and allocation, empowering decisions that generate greater productivity and increased sales across modern trade and independent stores.
StayinFront RDI’s Predictive Analytics® is a customer-tailored predictive model powered by machine learning (ML) that calculates potential sales value—size-of-prize (SOP)—in any outlet, even those that lack sales data. Use Predictive Analytics® to measure SOP without POS or scan data and direct your field teams to the right store at the right time to achieve sales growth.
Predictive Analytics® uses AI to identify the most influenceable opportunities. It generates SOP insights for stores not included in a journey plan, enabling field teams to prioritize higher-value opportunities and allocate resources more effectively, saving time and effort.
StayinFront RDI’s Predictive Analytics® uses intelligent algorithms to identify unique variables from a wide variety of store characteristics that have the closest relationship to your sales, building a store-level forecast that segments stores according to their potential revenue. This is especially helpful for the liquor industry as effective retail optimization solutions must cater to both on-premise and off-premise sales channels. Brand owners can survey these data points and make a forecast relative to their unique operation. By optimizing selling resources and reducing the manual capture of store-level conditions and data, sales teams are able to more effectively prioritize the Actionable Insights revealed by the tool and effectively grow and measure the contribution.
StayinFront's MSL of 1 leverages AI-driven Predictive Analytics® to deliver a Must Stock List (MSL) of products tailored for each store. By analysing a comprehensive array of data, including geographical factors, demographics, local spending propensity, population density, and relevant nearby landmarks, StayinFront optimizes inventory management and enhances sales performance. StayinFront’s MSL of 1 integrates distribution data, POS data, and promotional calendars. Liquor brands can also use StayinFront’s MSL of 1 to correlate attributes with similar stores to ensure that each location receives the optimal stock level, maximizing sales potential while minimizing excess inventory. With StayinFront, you can trust that your sales strategy is not only data-driven but also finely tuned to the unique dynamics of each market.
StayinFront RDI’s Predictive Analytics® can dramatically transform liquor brands’ sales strategies by analysing future trends.
To learn more about Predictive Analytics®, contact a StayinFront rep or visit StayinFront.com. Know More. Do More. Sell More.
StayinFront is a Platinum Partner of the Drinks Association.