The retail landscape constantly shifts along with new trends and consumers' new expectations. Traditionally, shopping revolved around the concept of customers visiting physical stores. Today, customers no longer restrict themselves to shopping through a single channel; multi-channel customers are now the common denominator in marketing. This trend poses numerous challenges for both retailers and suppliers.
As the customer experience has completely shifted towards cross-channel shopping environments, cross-channel data is a key factor in remaining competitive and relevant in the market.
The importance of data sharing
In retail, data sharing plays an essential role in addressing supply chain issues, opening new opportunities to bolster the supply chain precisely, correcting issues in-store, and making decisions in real-time.
Issues related to the supply chain play out in everyday operations. For example, out-of-stock and low on-shelf availability (OSA) are two everyday situations affecting brands' performance in the retail landscape.
One crucial factor in avoiding further losses is data-driven strategies between retailers and suppliers, which promote collaboration and joint-decision making.
That said, data exchange helps resolve supply chain challenges; retailers are closer to consumers than suppliers and more aware of shifting trends that affect the potential of products. Sharing retail data analytics can lead to insights that add value to both parties.
Not only that, but data-driven strategies have become crucial to meeting consumers' expectations. Capturing, managing, analyzing, and securing data is key to delivering an omnichannel customer journey, as it fosters personalized experiences.
Thus, coordinating physical infrastructure and relationships with suppliers and other key actors in the supply chain by sharing data and thus having a single view of the chain performance across the retail and supplier network allows companies to stay relevant in the market.
SmartSpotter's Shared Environment
What if...there was a real-time tool to generate real-time collaboration between retailers and suppliers?
If both parties are on the same page at the same time with access to actionable insights, they can work together to generate better in-store execution.
SmartSpotter Shared Environment allows our customers to share their Crowdsourced or Team Dashboard with retailers/suppliers of their choice in real time. Our platform gives customers complete control of what, when, and who they want to share their insights with.
Why Shared Environment
Our shared environment fosters collaborations between retailers and brands to achieve better results from their trade investments.
Sharing unbiased insights from customers, retailers, and suppliers prompts trade action at the store level, avoiding missed opportunities. This way, data sharing strengthens the relationship between both parties.
Everything is managed through the easy-to-understand SmartSpotter's dashboard, which shows agreement compliance scores, shareable reports, KPI trend lines, and more.
With SmartSpotter, experience the power of crowdsourcing combined with a Shared Environment and transition from a fixed-based resource model to an increasingly flexible, task-based and cost-effective one.
