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Stores are using more and more technology to improve how they run. This includes using artificial intelligence and robots to do things faster and make more money. But these tools only work as well as the information they have, noted Simbe Robotics.

Right now, stores do not have enough data about what’s actually on their shelves. This affects everyone in the business, from the retailers themselves to the companies that sell products to them.

To solve this problem, Simbe has created a new tool called Simbe Brand Insights. It supplies near-real-time inventory information. This is a big deal because it changes how stores and suppliers work together. The platform promises to bring shelf information to both store management and suppliers.

With Simbe Brand Insights, stores can generate new revenue streams and increase their return on investment (ROI) using the data that Simbe collects. This data can help suppliers understand things like how often products are on the shelves, where they’re located, and if they’re being stocked and promoted correctly.

This information can also help the stores improve their inventory management, where they put their products on the shelves, how much they charge, and how much shelf space they have. The bottom line is that customers have a better experience in the store.

“For years, our retail partners have run their businesses with Simbe’s platform’s item-level data, and it’s become clear that this information also has immense value beyond store walls,” said Brad Bogolea, co-founder and CEO of Simbe Robotics. “By sharing store intelligence with vendors, Simbe Brand Insights puts the retail ecosystem on the same side of the table, leading to stronger relationships and performance across the board.”

Simbe Brand Insights provides timely data

Historically, data-syndication companies gathered information from the retailers’ point-of-sale systems and give it to the vendors the following month. However, this data would often be stale or inaccurate.

This made it hard for the vendors to know if their prices were right, if their products were on the shelves, and if they were being promoted correctly, noted Simbe. As a result, they missed out on sales, their promotions didn’t work as well, and customers had bad experiences.

Simbe Robotics recently reported success counting inventory at BJs Wholesale Club. The company was honored with a 2024 RBR50 award for this implementation.

By eliminating the data collection and inventory counting challenges, Simbe Brand Insights offers all parties with the tools and visibility to enhance operations and differentiate shoppers’ experiences. Simbe said its reports and dashboard let retailers equip vendor partners with high-frequency, reliable information on promotional execution, shelf space needs, and product performance trends for their brands.

The company said that the following parties can benefit from Simbe Brand Insights:

• Store category managers can use precise, store-level insights and key performance indicators (KPIs) to hone strategies that drive product category performance and guide resets or schematic changes.

• Merchandisers can use the platform to understand product availability across stores and adjust inventory plans before it arrives.

• Brands and account managers can see in-store product performance, promotional compliance, execution, and in-stock rates. These insights would support negotiations on shelf space and improve promotional strategies for both their brands and retail partners.

“We want our partners to experience the tangible benefits that Simbe provides in the same way we do,” said Tom Henry, chief data and deputy chief information officer at Schnuck Markets Inc. “With Simbe Brand Insights, we now have data that vendors like Pepsi and Coca-Cola can use to stock shelves, optimize resources, and make sure our customers’ needs are met collectively.”

Simbe Brand Insights is available to vendor teams through Simbe Mobile, which the company said streamlines work by putting a near real-time, prioritized list of pricing and restocking tasks in the palm of their hands.

Retailers need visibility for competitiveness, says Simbe

Simbe Robotics said it digitizes the store interior to provide top retailers with visibility that elevates every aspect of their business. By offering a way for retailers to translate item-level and location trend information to their vendors, Simbe asserted that it can drive stronger outcomes and empower all parts of the retail ecosystem to work off the same, precise dataset.

“Accurate, always-on inventory data is no longer just an asset. It’s a must-have for retailers and vendors to keep competing,” said Chris Walton, analyst and co-CEO at Omni Talk. “Retailers and CPGs both want to elevate shoppers’ experience. With daily item-level insights, they stay in lockstep to stock shelves with well-priced items that shoppers want.”

Simbe’s multimodal technologies, including the Tally mobile robot, deliver store intelligence to retailers around the world. The company has announced new and expanded deployments with Albertsons, CarrefourSA, United Supermarkets, Northeast Grocery, TOPS Friendly Markets, Price Chopper Supermarkets-Market 32, SpartanNash, Wakefern, and more.

With significant traction across three continents, Simbe said its global customers have improved profitability while delivering top-grade store-team and shopper experiences.