SES-imagotag, the global leader in digital solutions for physical commerce, today launched its latest version of its store retail intelligence software Pulse, an AI-driven analytics solution helping retailers optimize their store profit as well as environmental impact by identifying areas for operational improvement and reducing in store waste. It is now part of the retail intelligence division In the Memory and currently, 400+ stores are using Pulse in UK and Ireland.
Stores are leaving money on the table every day because of waste, and a lack of relevant information for improving day-to-day in-store operations. To address these challenges, Pulse combines data from the aisles such as POS data, IoT data including Captana Computer Vusion, ESLs and 3rd party sources. It analyzes waste and product sell-through to generate recommendations on the most critical areas to improve the bottom line for store owners. The solution can also automatically run and measure improvement campaigns on the shop floor, becoming the heart of an intelligent store that data builds and opens a huge potential for the 14,000+ stores installed on the VUSION IoT Cloud platform.
Customers -such as SPAR, Daybreak, CarePlus Pharmacy, Morrisons Daily, Mace, Budgens, Londis and WHSmith- who have used Pulse AI analytics have seen increases of gross margin by up to +2%, waste reductions of -30% and seen sales increase on identified products by +20%.
It would also:
- Monitors how products are performing across stores (or store chain) and determinate gaps. Pulse identifies products at risk of waste if the quantities lost can be reduced. The system provides a detailed sales vs. waste overview, while also recommending the optimal bake or order quantity over a given time period.
- Measures the impact of promotions and any other in-store activity (Merchandising, refitting, marketing campaigns), contrast forecasted margin and actual gains with deep comparison capabilities from within a store, store vs. store in a retail chain, product vs. product, or at a regional level.
- Improves sales or store management of products by applying messaging to the ESLs. It sends automated insights and recommendations via ESL (Electronic Shelf Labels) floor messaging from Pulse to associates, such as high waste, high pricing, pricing vs. competitors, products not selling in store, products selling slowly, gap analysis, and sales declining.
- Amplifies stores’ ESG initiatives by using ESL messaging push, Pulse can relay local & sustainable product callouts on labels, assisting customers in making more sustainable choices in-store. Innovative solutions like HowGood’s sustainability labels being displayed on the ESL, which are featured in Kavanagh’s Belsize Park, the UK’s first fully IoT-powered VUSION 360 store, are helping pioneer low-carbon retail. With 55% of consumers more likely to purchase an item labelled with a sustainability claim, stores can tap into green intelligence to display sustainability attributes on products that are responsibly produced, to promote more ecological buying patterns amongst its shoppers.
Among the most recent innovations, the latest version of Pulse, includes:
- Improved UX and UI for Pulse Users: it boasts a completely revamped User Experience (UX) and User Interface (UI), offering users a sleeker and more modern design that enhances their overall experience.
- Enhanced Insights, and Trend Recording: it comes packed with upgraded insights now offering more detailed information, as well as advanced drill-down and forecasting capabilities.
- All-In-One 360 Dashboard View: it offers a comprehensive 360 dashboard view that provides a centralized source of information for monitoring trading data and staying up-to-date on IoT health.
- Next Level Analysis and Reporting: the new Pulse release features a single trading watch that consolidates all relevant data into one screen, allowing users to easily access critical information at a glance.
- Connecting Insights to the Aisles with Floor Messaging: retailers can now send callouts directly to the shop floor via the ESLs, for store associates to act upon. This added feature streamlines in-store operations and empowers associates with the insights –from stock, price, waste and products- they need to take action on, ultimately improving the overall shopping experience for customers.
Roy Horgan, SEVP – Group Strategy, Marketing & Communications, SES-imagotag, comments: “Every store underperforms but we can help. Pulse is all about improving store performance. We take a store’s data and generate insights across a wide variety of areas. We identify where products have a high level of waste and where products are slowing things down in terms of sales. Moreover, Pulse can use data to automatically display messaging on ESLs, to increase sales or improve store operations.”
Owner of the store and Managing Director of Kavanagh Group, Noel Kavanagh Jnr., says: “With Pulse we can improve our overall store profitability through greater availability while reducing waste which is an incredible move forward. Our store has a very strong emphasis on fresh food prepared daily onsite. We’ve married that up with cutting-edge technology and it’s truly exciting how we could use Pulse to drive our business and to monitor how our products are performing across our store, measure the impact of our promotional campaigns and improve our store management by applying messaging to the ESLs. We’re only scratching the surface and the technology is extremely impressive and I would recommend it to any other fellow retailers.”
Learn more about Pulse, here: https://www.ses-imagotag.com/pulse/