New survey in partnership with One Door reveals potential in-store execution gains and pain points
BOSTON – (November 12, 2020) – One Door, Inc., a leading retail merchandising execution platform that helps retailers plan, execute and analyze their in-store merchandising efforts, todayannounced the findings of its survey, “Bridging the Retail Merchandising Execution Gap.“ Conducted in partnership with Coresight Research, a third-party research and advisory firm, the survey revealed that measurable and actionable compliance reporting is key in bridging the gap for effective retail merchandising execution.
One Door sought to explore the execution of merchandising in retail, including challenges, best practices and the impact of effective execution on revenue. Coresight surveyed nearly 200 global leaders responsible for category management, merchandising, retail marketing, customer insights and analytics, space management and store operations for global retailers focusing on brick-and-mortar and e-commerce.
“The results of this survey provide insights for retail teams looking to close the gap between their merchandising intent and what is executed in store,” said Tom Erskine, CEO, One Door. “There is no longer a question about how proper merchandising impacts sales and costs, and this report further makes the case for retailers to implement retail technologies to improve in-store execution and communication.”
According to the survey, the four key findings for effective retail merchandising execution, ranked by importance are as follows:
- Effective merchandising execution impacts revenues: Some 36% of the retailers that use merchandising software reported that they had realized cost savings of 1.5-2% of their total revenues since the introduction of the software.
- Execution can be highly challenging: An inability to understand work completion and its accuracy emerged as the topmost challenge for retailers, with over 50% citing it as a “key challenge”or “the biggest challenge.”
- Pain points exist in executing what are identified as best practices: Despite retailers’ clear understanding of best practices for effective retail merchandising strategies, they find the execution tasks either “challenging”or “very challenging.”
- Retailers want better planning efficiency and compliance: Retailers expect merchandising software to help their business with improving planning efficiency, achieving better compliance across stores and increasing store productivity.
Noted Deborah Weinswig, CEO and Founder of Coresight Research, “Optimizing on merchandising execution has never been more critical than now. Even pre-COVID, issues around out-of-stocks or excess product were holding retailers back. But in the current environment in which demand is volatile, hard to predict, and differs by geography down to the county, retailers ill afford to make the wrong calls on merchandise.”
One Door and Coresight will host a webinar in early December to explore the key findings in detail and provide best practices for retailers. Click here to read the full report
About One Door, Inc.
One Door, Inc. is the leading provider of cloud-based visual merchandising software. With One Door’s Our platform platform, space planners, visual merchandisers and store operations teams work across silos to plan, execute and analyze store merchandising plans in a unified, cloud-based application. The result is higher sales, more store team efficiency, and better customer experiences. Learn more at onedoor.com.
About Coresight Research
Coresight Research is a research and advisory firm specializing in retail and technology. Established in 2018 by leading global retail analyst Deborah Weinswig, the firm is headquartered in New York, with offices in London, Hong Kong, Shanghai, and Mangalore (India). The firm provides data-driven analysis and strategic advisory to clients including retailers, brands, enterprise technology companies, accelerators and more. In addition to being renowned for its breadth and depth of research, Coresight Research is known for its expertise in the China market, helping clients with market entry and cross-border e-commerce strategies. Coresight Research is also known for its Innovator Intelligence platform, consisting of a vast network of technology entrepreneurs that it actively cultivates through events, mentorship, and regularly updated report coverage. For more information, visit www.coresight.com.