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Retail Stores head for Conflation in 2024
by Rituparna Nath
December 28 2023 | 03 min read
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What is a heart without a soul, food without some salt and life without some learning?
Dead, bland and useless.
They exist, but nobody wants them.
When we choose the things we want in our life, you measure their importance by value – perceived or monetary.
And value is created. Nothing and nobody is born with it. Water only becomes valuable when it gets cleaned and bottled. Humans only become valuable when they do something or something has already been done to make them valuable (think nepotism). Even gods get valued only because history tells us of the miracles they did.
So, shouldn’t business be done in the same way to ensure every part of it is actually worth it?
Your biggest weapon on the field – your retail stores, who face the battle from the frontline, do every one of them bring value to you?
Check the data. Has every single retailer in your retail universe bought at least one of your products in the last one-two months? Or even three?
The answer will be a definite no!
But why so? Haven’t they opened shop for months? Have the demand for your products died?
Or do these stores even exist?
There are so many answers to it, yet you know none of them.
What you do know is what are your top-performing stores and the top sold products in those stores, because you feel they are valuable to you. And they’re very rightly so!
But… if you choose not to eat food without salt, lead a life without learning, or have a heart without a soul, why do you want to keep retail stores that bring no value to your business, or rather why don’t you add some salt and soul and make those stores worth something?
Data or technology A.K.A. Retail Intelligence is the soul that keeps trade alive by conflating technology and ground-level reality. Conflation is the process of merging pieces of scattered data to give accurate information.
So you can know how exactly what’s going on in each store with your Retailer app. You can know which products are going where with a modern DMS. Know what is being sold and what is not with a Tertiary Sales app. And see how your products are being placed and what is being dumped with AI-enabled Merchandising tech.
You can even know if all your stores actually exist on planet Earth, using retail GenAI.
Remember, value is always more expensive than price. So in 2024, realize the real value of your stores and empower them with a soul. Tap on the link below or send a mail to marketing@mobisy.com to start now.
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Not just another newsletter about AI in your inbox
This story underscores a vital lesson: artificial intelligence must be complemented by real intelligence.
