In an insightful interview with the Category Management Association, Matt Greene, Vice President of Enterprise Sales and Account Management, Americas at Trax, shared his expertise on the role of shelf audits in the retail space. This interview highlights key questions and Matt’s valuable insights into how Trax is transforming the retail landscape through innovative solutions.
Why Do CPGs Turn to Trax for Shelf Success?
Question: What are the primary reasons that CPGs come to you to get a better understanding of how to be more successful at the shelf?
Matt Greene: CPGs are striving for efficiency in their market strategies. Many use Trax as an add-on to their sales teams’ store visits, which serves two main purposes. First, it enhances the efficiency of store callers by providing them with pre-visit data, allowing them to execute their tasks more effectively. Second, it offers market intelligence beyond traditional sales data, helping clients understand the real story of what’s happening in stores.
The Role of Image Recognition Technology
Question: What can image-recognition technology like Trax’s solve – and how should it fit in a space planning approach for things like out-of-stocks and shelf audits?
Matt Greene: Image recognition technology is often misunderstood as a cure-all for out-of-stock issues. While it provides a clear picture of shelf status, it doesn’t address root causes. The true value lies in category optimization and improving sales rep efficiency, rather than merely confirming known out-of-stock problems.
Facilitating Better Communication Between Retailers and CPGs
Question: Can you give an example of how your tool helps retailers and CPGs communicate better with each other on issues like out-of-stocks?
Matt Greene: A picture is worth a thousand words. By extracting images and virtually walking through stores, we evoke strong conversations based on real-time store conditions. This approach, combined with our signal-based merchandising solution, enables CPGs to address issues proactively and effectively.
Enhancing Supplier-Retailer Conversations
Question: What’s an example of a supplier-retailer conversation around out-of-stocks?
Matt Greene: When brands face out-of-stock issues, we recommend increasing inventory levels and utilizing Shopkick to gather data on SKU availability. Our merchandisers assess both shelves and backrooms, providing a comprehensive view that helps identify root causes and foster effective retailer communication.
Collaboration with Retail Space Planners
Question: How closely do you work with retail space planners, floor planners in terms of their work and in terms of use of this tool?
Matt Greene: Trax collaborates closely with space planners, providing data-driven insights through our Category Excellence product. This helps planners validate and optimize product placement, ensuring the most effective use of shelf space.
Adapting to E-commerce Trends
Question: In your view, what does the rise of e-commerce mean for brands at shelf in a changing store environment?
Matt Greene: While e-commerce is growing, 85% of consumers still prefer in-store shopping. The challenge is managing the execution gap created by diverse shopping methods, ensuring products remain available and visible on shelves.
Conclusion: Trax as a Retail Innovator
Matt Greene’s insights underscore Trax’s role as a transformative force in retail. By leveraging advanced technologies like image recognition and signal-based merchandising, Trax empowers CPGs and retailers to optimize their strategies, improve communication, and ultimately drive success at the shelf. As the retail landscape continues to evolve, Trax remains at the forefront, enabling brands to navigate challenges and seize opportunities in the ever-changing market.
