The Promotion Optimization Institute Releases 2018 Vendor Panorama for Retail Execution and Monitoring in Consumer Goods
WYCKOFF, N.J. (PRWEB) March 14, 2018 -- The Promotion Optimization Institute (POI), the leading resource for trade marketing and merchandising executives, today released its 2018 Vendor Panorama for Retail Execution and Monitoring in Consumer Goods, a detailed analysis of the retail execution market and the technology vendors that support it. The 2018 POI Vendor Panorama also identified the following 13 best in class vendors across 12 functional areas that are helping retailer and CPG executives improve their in store execution: Accenture, AFS, Asseco, Customertimes, EdgeVerve, GreatVines, Ivy Solutions, Kantar, Pitcher, SAP, Spring, StayinFront, and Univera
“Although our POI research finds consumer goods manufacturer satisfaction with retail execution has dipped slightly, it is very encouraging that there are so many solution options to choose from,” said Michael Kantor, CEO and Founder, Promotion Optimization Institute. “With these best in class solutions, manufacturers can improve their in-store execution and add expertise across geographies, go-to-market models, and product categories.
“In this vendor panorama we noted how analytical options have improved to such a degree that sales teams and trading partners can now make better decisions even down to the store level. We believe that if manufacturers will bring their business processes forward, pick from these excellent solutions, and add consistent change management they will be able to achieve the profitable growth they desire.”
POI designed the Vendor Panorama for Retail Execution and Monitoring in Consumer Goods to help consumer goods companies and their distribution partners execute at the individual store level because if the product is not available, merchandised correctly, and promoted effectively, the consumer will likely purchase from a competitor.
The 2018 Vendor Panorama utilizes the data and insights from the POI 2018 TPX and Retail Execution Survey by identifying where consumer goods manufacturers are succeeding and struggling in the promotion and distribution of consumer products. The 2018 survey questioned over 100 consumer goods companies of varying sizes around the world.
Key Findings:
• Sixty percent of those surveyed expressed some satisfaction with the ability to execute at retail a three percent decline from 2017.
• Eighty-one percent have challenges finding tools that enhance retail execution worker productivity, a drop of five percent compared to 2017.
• Ninety percent have challenges moving capabilities from transactional to analytical.
• Thirteen percent reported that they have the tools for their field based users needed to make appropriate decisions at the store level.
• Twenty-two percent of office based users are fully satisfied that their analytics needs are being met.
Recommendations:
● Prioritize functionality above delivery method. The lines between SaaS, managed services, hosted private cloud, and public cloud are blurrier than ever and highly dependent on where the deployment(s) will take place. On-premises is still as popular as cloud.
● Continue to prioritize capabilities that will help users be more effective—for example to “sell more.” These capabilities include retail activity optimization (RAO), image recognition, guided selling, social selling, gamification, voice recognition, and in-flight analytics.
● Test, script, and test some more to ensure that prospective solutions can meet off-line requirements for in-flight analytics and complex pricing and promoting.
● Recognize that a single solution is not likely to meet an enterprise’s global needs. There is just too much disparity in price, suitability to local requirements, and availability of support to be able to do so. Three to five solutions are typical for truly global companies.
● Continue to focus on the requirements of non-field users, meaning managers and office-based personnel who support the field. Some solutions are quite mature for field users but can have significant limitations for those who have other roles. The same can be said for system administration tools and related personnel.
● Ask for best practices from your vendor or implementation partner. The POI 2018 Survey found that only 13 percent felt strongly that they received best practices in combination with their solution.
Vendor Evaluation for POI Best-In Class
In the 2018 POI Panorama, 23 solutions from 21 vendors were evaluated. Sixteen capabilities from each vendor were analyzed and compared consisting of: company viability, geographic strategy, , market understanding, vertical and industry strategy, partner leverage, company vision, product aptness and flexibility, delivery flexibility, solution completeness, offline capabilities, user experience, analytical capabilities, product vision, and configurability.
“Our passion for delivering the best most actionable information is demonstrated again in the 2018 POI Panorama and will also be evident at our upcoming summits in Chicago and Budapest in 2018, which provides to our consumer goods and retailer members how strategy, best practices, and enabling solutions should be approached for growth in these challenging times,” said Kantor.
More information about upcoming 2018 POI events can be found at: http://poinstitute.com/events/
About the Promotion Optimization Institute
POI brings together manufacturers, retailers, solution providers, analysts, academics and other industry leaders. Members of the POI share cross-functional best practices in both structured and informal settings. Additionally, members benefit through our industry alliances, the Certified Collaborative Marketer (CCM) ™ curriculum and certification, global industry leadership events, and the Promotional Collaborative Capability Matrix (PCCM). POI aims to instill a financial and metrics-based discipline not typically found with other trade groups.
The goal of our innovative approach is collaborative promotion optimization. The focus is on the customer/shopper through sales, marketing, and merchandising strategies. POI is based in Wyckoff, New Jersey. To learn more about the POI, including how to participate in research, how to register to attend or sponsor events, and how to engage with leaders on the CCM, visit http://www.poinstitute.com/ or email Mkantor (at) P-O-I (dot) com.
Theresa Smith, POI, +1 (818) 704-8481, [email protected]
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