Every display and square foot of shelf space has the potential to make or break sales. To do this, visual merchandisers need to ensure their displays are executed correctly.
However, visual merchandisers find it incredibly challenging to monitor store compliance and have to sort through countless photos or pay for costly audits.
According to RIS, each US retailer, depending on their store size, loses $1 to $30 million in sales annually due to the lack of compliance.
Over 60% of teams still use Excel spreadsheets and other manual tools as their primary solutions for in-store merchandise planning, communication, and compliance.
Why Retail Compliance is Important
Aside from the millions of dollars in lost revenue, retail compliance has a domino effect that unravels into more challenges.
Retail compliance is “the adherence to a set of standards and guidelines that ensure consistency when executing merchandising, pricing, promotions, and branding across all stores within a retail network.”
It’s about ensuring that campaigns planned at the corporate level are consistently and accurately reflected at the store level.
Without proper retail compliance management, operating costs can significantly increase. Non-compliance in retail is more than just a missed detail. Lack of streamlined retail compliance affects:
Lost Sales: Misplaced displays or incorrect pricing can lead to lost sales opportunities, amounting to millions of dollars in lost revenue.
Customer Dissatisfaction: Inconsistent branding or display setups can confuse and alienate customers, leading to dissatisfaction and decreased loyalty.
Operational Inefficiencies: Manual compliance checks are time-consuming and resource-intensive, diverting precious labor from more strategic tasks.
Faulty Data Results: Misrepresented data can skew campaign results and cause poor decision-making for future planogram success.
Lack of Confident Store Teams: Store teams are inconsistently hitting the mark with compliance, and HQ doesn’t give them timely feedback, leaving associates to scramble or not care about their work.
Meet Image IQ
It’s time to stop using Excel spreadsheets. You don’t need to spend hours sorting through images and letting days go by without providing feedback to store teams.
Image IQ, an AI-powered compliance automation solution from One Door, takes the guesswork out of compliance management.
Image IQ provides real-time feedback and ensures that displays and promotions are set up correctly every time.
By seamlessly integrating into existing workflows, Image IQ eliminates manual intervention and frees up valuable time for retail teams to focus on creating captivating in-store experiences.
With Image IQ, store teams are empowered to correctly bring plans to life when setting up for the first time. This minimizes the burden on visual merchandising teams to sort through countless compliance photos.
Image IQ automatically analyzes in-store visual merchandising, diminishes compliance costs, and proves the effectiveness of immediate display compliance through increased sales.
Benefits of Image IQ
Show Stores What ‘Good’ Is in Real-Time: With instant insights, stores can adjust displays on the spot, ensuring consistency and effectiveness without delayed instruction from HQ teams.
Generate Trustworthy Compliance Data: With trustworthy data, visual merchandisers and HQ teams can make informed decisions and measure the impact of their efforts accurately.
Eliminate the Need for Expensive Audits: Image IQ’s AI-powered automation streamlines the compliance process, reducing manual labor costs and eliminating the need for expensive on-site audits.
Automate Compliance: Image IQ utilizes advanced computer vision technology to auto-identify fixtures that lack essential content or planogram changes. This eliminates the need for manual intervention by retail merchandising or operations teams.
Enhance Compliance Monitoring: With Image IQ, One Door customers gain the ability to efficiently review a large volume of compliance photos, facilitating greater compliance across their entire retail network.
Gain Speed and Agility in Stores: With the ability to trust store teams to get it right the first time, execution time can be greatly reduced. This helps stores remain agile and retain customer loyalty.
Experience a Single Visual Merchandising Workflow: Image IQ provides a cohesive and efficient workflow within the One Door platform. This enables stores to upload compliance photos as part of the standard compliance process and automatically evaluate them without manual intervention.
If you’re ready to earn revenue from every single shelf, request a demo for Image IQ today.