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A planogram is a diagrammatic representation of the ideal product placement inside a store that facilitates customer purchase. Based on a continuous retrogressive extrapolation of product position to buying patterns, the planogram pinpoints how and where different FMCG products should be placed, i.e, a schematic plan for displaying retail products on store shelves so as to maximize sales. The key factors that participate in chalking up an effective planogram are Share-of-Shelf, positioning of the product, brand displays, and Point-of-Sale (POS) locations.
Planogram compliance is a retailer’s complete adherence to the planogram protocols provided by an FMCG brand. It ensures that the right mix of products is located at the right place, at the right time with accurate merchandising and brand display fixtures to target the right set of customers.
The objective of a planogram is to increase brand visibility and recall, and simultaneously drive sales through it. But what good is a tool if one can’t backtrack its performance?
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How do the decision-makers of the CPG brands calculate the P&L index in a pre and post-planogram complied structure?
How do retailers know they are making a surplus of currency with the existing planogram?
How do the strategists get visibility into the planogram’s effectiveness?
The answer to all the above-mentioned questions and more lies in the cradle of planogram compliance monitoring.
According to The National Association of Retail Marketing, planograms, on average, go out of compliance at a rate of 10% per week. To paint a more synergistic picture, RIS News reported that poor retail execution & a lack of planogram compliance can lead to sales loss of $1M to $30M per retailer in the US market.
Planogram planning, designing & monitoring has evolved over the years with the single objective of obtaining better, sharper, and quicker results. It started from 2D & 3D virtual designs to a data-driven shelf product placement optimization, to artificial intelligence produced planogram designs.
The planogram compliance monitoring solutions are also spread across a wide spectrum. From tools based on image processing that ensure shelf planogram compliance, to computer vision & deep learning-based scanning solutions. Artificial Intelligence (AI) algorithms are engineered to identify and address multiple complexities of varied intensities like adjacencies, differing light intensities, various facings of products, and multiple facets of the SKUs.
Image Recognition (IR) in the CPG industry is expected to grow from USD 1.4 Billion in 2020 to USD 3.7 Billion in 2025 at a Compound Annual Growth Rate (CAGR) of 21.7% from 2020 to 2025. An increase in the need for "successful" retail execution and 100% adherence to planogram standards are a few of the major factors driving this exponential growth.
Infilect’s flagship product, InfiViz, is the most advanced visual intelligence platform used by some of the leading CPG brands across the globe to monitor and ensure complete adherence to the brand’s planogram standards.
Enable your field force to identify OOS easily, effectively manage the inventory, and re-stock in optimal quantity & time.
Increase the profit margins by 8.1% by complying with the planogram standards.
(Source: The National Association of Retail Marketing)
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Enhance customer experience by restructuring the store layout to one that’s in sync with the in-store customer behavior.
A comprehensive visual intelligence platform for the most accurate, real-time in-store execution insights.
Capturing of high quality in-store images by on-field merchandisers.
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Accurately identifies SKUs and display promotions from the images captured from every store.
Critical and actionable execution insights are made available on the InfiViz Dashboard and shared using trackers directly into stakeholder inbox.
Execution insights and targeted action plans are available to on-field merchandisers within 60 seconds.
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