Ensure Retail Pricing Compliance With AI-Powered Image Recognition

Significance of Retail Pricing Compliance for CPG Brands

When it comes to selling in the FMCG ecosystem, product pricing is the ultimate make or break for a sale. Thats why it is important to ensure your products are priced correctly in every store. While this is easier said than done, CPGs employ various pricing structures for different products under different categories. Also, to attract shoppers, CPGs also offer attractive discounts and offers to clear their stock or attract sales. While all CPGs consistently work on piercing strategies, identifying which retailer or store is violating set pricing compliance can be difficult. Along with identifying their own pricing gaps, it is important to monitor competitor pricing, offers or discounts. There is a need to automate pricing data collection, keeping it accurate and up-to-date in real time so that you can quickly identify discrepancies or violations and ensure pricing consistency and compliance.

Factors that impact product pricing

Cost of goods

Marketing spends

Product differentiations

Competition

Demand Vs. Supply

Government regulations and legalities

Achieve Pricing Compliance with Image Recognition in real-tme

Traditional process of gathering pricing information leaves CPG leaders with piecemeal information on how shoppers buy their products, how they stack up against the competition brand is crucial puzzle in achieving a perfect retail execution and maximising sales. AI-powered Image Recognition solutions help CPG brands to automatically collect and analyze real-time pricing data by analyzing the pricing strips and decoding the texts. This speeds up the process of data collection and enables sales teams to monitor and adjust product pricing to maximize sales. This is where Image Recognition plays a pivotal role in not only monitoring product pricing across stores but also helps optimize and make better decisions on pricing markups.

Benefits

Automate pricing data collection to reduce errors and ensure data accuracy
Stay competitive by monitoring competitor pricing and promotions continuously
Ensure pricing compliance across every store in real-time
Accurately evaluate sell capacity to optimize inventory management and pricing.
Monitor sales patterns to boost the performance of key products strategically.

Meet Shelfwatch - AI-Powered Retail Shelf Analytics

ShelfWatch helps you by automatically monitoring store shelves, ensuring your products are priced correctly and comply with retail regulations. It uses advanced AI-driven image recognition and price detection technology to detect prices and analyze them against industry standards, ensuring you're not overcharging or underpricing your items. By benchmarking competitor prices, ShelfWatch ensures you stay competitive while following pricing rules. It gives you proactive recommendations for sales and promotions based on real-time data, helping you optimize your pricing strategy. With predictive insights, ShelfWatch helps you plan for new product launches and adjust prices accordingly. Delivering quick and organized reports saves you time and effort in manual audits, ensuring pricing compliance efficiently. Overall, ShelfWatch streamlines the pricing process, saving you resources and keeping you ahead in the market.

Key Features

Efficiency and Accuracy

ShelfWatch ensures efficient, high-quality image capture and accurate data collection for optimized pricing strategies.

Real-Time Insights

Instant access to SKU-level data enables quick response to market conditions, enhancing pricing decisions.

Actionable Intelligence

ShelfWatch identifies promotional displays and visibility issues, providing actionable plans for price optimization.

Competitive Advantage

Detects promo displays, planograms, and visibility issues, providing instant action plans on the go.

Competitive Intelligence

Monitors competitor adjacencies, assortments, pricing strategies, promotions, and more.

Offline Capability

Conducts store audits even in locations with limited or no internet connectivity.

Seamless Integration

Streamlined navigation for capturing high-quality images efficiently.

Cost-effective