With growing consumer demands and increasing product assortments, and post-pandemic impact at scale, FMCG brands in Australia have a plethora of challenges to deal with.
Infilect Technologies, a global leader in image recognition technology, has mastered the use of AI and image recognition for solving sales and marketing leaders’ diversified set of pain points. Major FMCG brands struggle with no access to real-time retail insights like the share of shelves, on-shelf availability, and brand share at store level.
Significant delays in fixing issues like planogram non-compliance, incorrect product placement and out-of-stock situations lead to significant sales loss. A highly time-consuming manual store-audit process results in inefficiencies at the store level. Infilect empowers FMCG leaders with real-time shelf intelligence, competitive intelligence and actionable retail execution insights that are gathered using an image recognition platform that has processed 25+ million images and data of thousands of stores worldwide.
The real-time retail visual intelligence helps boost in-store sales and marketing ROI through improved in-store retail execution performance, at scale. The proven impact includes 2-5 per cent per store sales lift, millions of minutes saved for field force worldwide (a 70 per cent reduction in time spent per store), and real-time visibility into per-level execution data. No wonder the global FMCG brands are scouting for innovative AI solutions to deliver the next level of the shopping experience, empowering their front-liners with new-age tools and improving per-store sales at scale.
The market size of the consumer goods retailing industry in Australia this year stands at $208 billion. Globally, in 2020 alone, enterprise retail brands spent more than $200 billion on adopting advanced retail technologies such as computer vision, AI, and in-store digitalisation. Driving retail store profitability and efficient in-store execution is the top priority for every FMCG sales and marketing leader.
“We have been closely watching the Australian FMCG market, and there is an unprecedented urge in driving efficiency, profitability and optimisation at the store level as well as at scale by adopting advanced retail technology,” says Anand Prabhu Subramanian, co-founder and CEO at Infilect technologies. “At Infilect we would like to partner with FMCG brands in driving massive growth and efficiencies at scale.”
Infilect was featured in CB Insights as the top merchandising retail tech provider to global FMCG and large format retailers. The company recently partnered with CatMan, a strategic and unique collaboration for bringing next-gen retail innovations to Australia’s biggest FMCG brands and retailers. CatMan Consulting is a boutique category management consultancy that works with clients to maximise their physical product availability in the market.
“With handheld AI auditing tools, merchandisers now can do more than just gather data at the store,” says Nick Jones, director and head of CatMan Consulting. “By simply clicking a few images of the retail shelves, the image recognition algorithm can process these images to detect every object and SKU present on the images and provide accurate shelf metrics in less than one minute. This enables merchandisers to take instant actions on mitigating execution issues on the spot before they leave the store, thus instantly improving the in-store visibility of a brand and fixing execution errors on the spot.”
Image recognition is becoming an irreplaceable business intelligence and sales recommendation tool for FMCG business leaders.
“With retail visual intelligence, the possibilities are limitless. The age of traditional transaction-based data collection is done and dusted. Visual intelligence will be the new frontier in technology adoption for the CPG industry,” concludes Subramanian.
Infilect is an Enterprise SaaS provider for retail manufacturers, retail brands, and retailers. With innovations in image recognition and AI, Infilect’s products empower the FMCG industry with unprecedented visibility into omnichannel sales, in-store merchandising, and store operations. Infilect is trusted by global customers and partners and is backed by Mela Ventures, 1 Crowd and other renowned angel investors. For more information, visit https://www.infilect.com.