Client
Fibonalabs simplified operations in the Retail Industry with the Digital Solution Helix, to boost productivity and sales for retailers.
Industry:
Retail
Services:
UX Design and development
business
Objectives
Maxerience approached Fibonalabs to help CPG brands, and retailers sell more products through image recognition technology solutions for retail planogram compliance.
They needed a solution with a digital retail platform that can ensure product availability on shelves and coolers for better inventory management and also can track customer buying behaviour.
project
Overview
Maxerience Partnered with Fibonalabs Services to Fuel Retail Planogram Compliance. Fibonalabs provided digital solution Helix, using Artificial Intelligence and the Internet of Things (IoT) for CPG, FMCG brands & retailers to increase sales by ensuring product availability.
Real-time data for analytics
Enhances distributor performance and automates ordering
Automated inventory management
challenges
To Overcome
To streamline the database and real-time tracking of products, the retail industry invests precious hours and huge manpower.
How to track product movement on shelves.
Improving sales and product availability.
Improve compliance and merchandising activity monitoring.
Maxerience Partnered with Fibonalabs Services to Fuel Retail Planogram Compliance. Fibonalabs provided digital solution Helix, using Artificial Intelligence and the Internet of Things (IoT) for CPG, FMCG brands & retailers to increase sales by ensuring product availability.
solution
Approach
01
We created a system that works as the CPG product training platform. Digital copies of products can be created in just minutes. The system is created on AI which can hold all the digital products and information related to each shelf for the respective product.
02
With the help of IoT sensors, the movement in shelves and refrigerators can be tracked. The system can send automated updates to distributors about the inventory of a store.
03
It can generate retail shelf data reports to give real-time shelf stock and event data access to sales managers, merchandisers, and associates. The system holds the global database of CPG products and with the help of artificial intelligence, product recognition is done around the globe.
04
Images are captured for products and promotional materials on a shelf or off the shelf using the Maxerience mobile application and moved to the Maxerience cloud. The cloud can return actionable insights within seconds.
technology
Stack
The system was created by Vue.js to offer tech scalability, better performance, faster development, and easy upgrades.
Postgres SQL DB and Python were the backend technologies used to provide scalable and secure databases.
value
Delivered
The provided solution can increase sales for CPG, FMCG, and retailers by resolving their inventory issues and real-time tracking of products. This digital retail platform allows the analysis of customer buying behaviour. The automated solution of the ordering process led to a decrease in cost and easy merchandising practices.
Up to 3% improvement in on-shelf sales lift through in-store calls to action.
7-10% improvement in assortment availability and reduced OOS.
Accurate shelf share calculation and immediate action during same store visit and improved compliance and merchandising activity monitoring.
Up to 50% reduced time for survey collection versus manual data collection.
10-15% more accurate than manual surveys.
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