Dallas-based Symphony RetailAI, a provider of end-to-end, integrated AI-powered merchandising, marketing and supply chain solutions for retailers and CPG manufacturers, has announced the findings of its commissioned executive survey, “Retailers’ Views of Modern Planning Tools and Solutions,” conducted by RSR Research.
An overwhelming majority of respondents indicated that matters related to space planning are important amidst unprecedented retail upheaval. Macro space planning was cited by 72 percent of respondents as critical, with assortment optimization at 67 percent and micro space matters at 65 percent, highlighting the increased complexity of the grocery industry.
The survey asked respondents about their most pressing category planning needs, including macro and micro space and assortment planning. Those polled also had the opportunity to share their organization’s level of interest and overall sentiment related to preferred solution types to navigate current grocery conditions.
Assortment planning is top-of-mind for navigating current industry realities
Symphony RetailAI’s survey inquired about the urgency of replacing or updating assortment optimization systems, shelf space systems or planogram automation in the next 12 to 18 months. Nearly 40 percent of respondents stated that assortment optimization is the most urgent system to be replaced.
Given current supply chain challenges, it’s not surprising to see those surveyed concerned about having the right products on hand for shoppers. Volatile marketplace conditions, shifting consumer demand, e-commerce growth and new regulations have increased the complexity of the grocery industry, creating unprecedented challenges and opportunities for retailers to embrace more modern AI-based solutions.
Best-of-breed in the cloud is the go-to solution
Retailers unanimously agree that the planning landscape is changing. There is otherwise little agreement on reasons for change and how to change, but they embrace the value of cloud-based agility for key capabilities. Nearly one-third of respondents cited a desire to utilize cloud-based solutions for store clustering and planogram automation.
“The grocery industry has never been more complex, and the stakes are high to get category planning processes right to keep pace with change, grow sales and margins and outpace the competition,” said Cheryl Sullivan, general manager and chief product officer, Symphony RetailAI.
“Retailers need AI-based macro space, micro space and assortment planning capabilities to enable the agility and insight they need to stay current with shopper preferences while balancing competitive and financial target priorities to drive both increased customer satisfaction and profitable revenue growth.”
For more information, visit symphonyretailai.com.
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