This article talked about having an in store applet developed by InMarket to help collect data on groceries demand to help with demand planning and forecasting. This is a relevant approach because 92 million adult Americans use smartphone apps while shopping in store. This grocery application supports shopping lists, loyalty-driven offers and the promise of increased strategic marketing budget from consumer goods companies. This app is still undergoing testing and the firms who have done pilot tests experienced 300 percent purchase intent lift when this technology is used to promote an offer as a shopper rolls their cart toward that SKU in an aisle. There are two important things to consider before implementing this app. First, the promotions need to be linked to shopper segmentation buckets. The app can collect data about a shopper for a whole year. Having a year’s worth of data, a retail chain should understand whether a shopper is on a budget and even calculate the spending limit of the budget. They can understand which shoppers are on a diet, either permanently or temporarily. This app can also determine any brand loyalty is it exists. The app also helps the marketing department achieve their goals at a lower total supply chain.
Inventory costs are a common problem for many firms, however if this app offer sales to consumers it can help clear inventory and reduce costs. Demand planning is already hard…