Additional revenue for the company
The monthly demand at the retail end point is influenced by three factors:
However, agile frontline sales teams, enabled with data-driven platforms, can further nudge retailers to drive additional product lines from the company.
The client has an assortment of over 400 products sold at over 500K retail outlets. Its frontline sales teams often play their conversations with retailers by the ear, and end up missing out on recommending products that can increase revenue lines for the company.
We were brought in to enable the sales teams to have a Whitebox approach with the right levers, tools and data to ensure that they were maximizing their product coverage across various retail end points.
Our ML-Based approach was helpful in narrowing down on predictable demand-driven recommendations. The second problem was solved through a combination of recommendation engines that provided recommendations on similar products that would be relevant for each retail end point.
The recommendations are pushed out to a central platform, which then notifies the frontline sales team directly on their handheld devices. The sales teams consumes these recommendations on a daily basis to make the right recommendation to the right retailer.
The Recommendation Engine empowered the frontline sales teams with product recommendations on the fly that could drive more value at the retail end point.