Monitor shopper activity in real time to spot and correct problems
The thousands of shoppers who scour your store shelves every week are the first to know about your Ready-for-Purchase issues. KSS Retail Heartbeat® detects what your customers see—or don’t see—in real-time so store personnel can rapidly solve any problems and re-capture lost sales.
By continuously measuring and monitoring what’s being bought, KSS Retail Heartbeat instantly identifies OOS issues and automatically alerts your store personnel to spot-check and correct problems that might otherwise take hours or days to discover. This merchandising optimization solution helps you avoid both the costs of excess inventory and the lost opportunities caused by inadequate investment in stock.
Comprehensive models identify, analyze and reduce OOS problems
Retail Heartbeat analyzes transaction log data and develops a large set of “Poisson” probability models that predict the rates of sales for each item, at each store, at any moment in time. These are blended into a comprehensive model by applying Bayesian classification tree methods that allow for accurate forecasting of item interactions.
The total data model is updated and refined nightly, and accessed minute by minute. Sales in each store are monitored via “trickle feed” every 15 minutes and movement of each item is compared against the rate predicted by the sales velocity model. When an item fails to sell at the predicted rate, an automatic alert is transmitted immediately to a store manager, clerk or even a vendor or merchandiser.
With Retail Heartbeat® you can:
- Identify the historic nature and scope of the OOS problem, analyzing OOS trends by enterprise, banner, and individual store
- Develop procedures for OOS reduction
- Review OOS profiling by start time, day and duration
- Identify and correct systemic problems, such as insufficient shelf space allocation and replenishment from the backroom, insufficient order quantity to meet promotional demand, and distribution voids
- Build store loyalty through fewer substitutions and disappointments at shelf