Chasing Consumer Tastes is Driving Up Out-of-Stocks for Retailers
SALT LAKE CITY--(BUSINESS WIRE)--Nov 13, 2019--
In a speech at the Retailer-Owned Food Distributors Association/National Grocers Association Fall Conference, ReposiTrak Partner Joe Meherg told attendees that retailers must move to eliminate out-of-stocks to avoid customer defection to online competitors. “Online grocery shopping is growing rapidly with year-over-year increases,” Meherg told the audience gathered at the Sawgrass Marriott Resort in Ponte Vedra Beach, Fla. “Out-of-stocks will only further drive shoppers away from brick-and-mortar stores.”
As food retailers have added products to meet a wider range of consumer tastes, item proliferation has only increased the age-old problem of out-of-stocks at a time when brick-and-mortar grocers can’t afford to have empty shelves due to the challenge from online competitors, Meherg told the assembly. In the new battle for retail, unless food retailers have products available, they will lose both sales and shopper loyalty.
By giving vendors visibility into what’s selling and their product inventory balance in the store, ReposiTrak’s OOS Management Solution identifies the greatest out-of-stock dollar opportunities that suppliers and retailers need to fix. Eighty percent of suppliers using the ReposiTrak OOS solution have reduced out-of-stocks on an average of 39 percent in less than three months.
The ReposiTrak Speed Retail Platform drives growth and supports all supply and demand chain activities for retailers, manufacturers, and their trading partners, consisting of three product families; Compliance & Risk Management, Supply Chain Solutions, and MarketPlace Sourcing and B2B Commerce. Delivered via one technology platform, all the applications are mutually reinforcing and work synergistically to create value and positive impact across the entire enterprise. The OOS Management Solution is part of the ReposiTrak Supply Chain Solution family.
About Park City Group and ReposiTrak®
Park City Group (NASDAQ: PCYG) is a Software-as-a-Service (“SaaS”) provider that brings visibility to the consumer goods supply chain through its ReposiTrak, Inc. subsidiary. ReposiTrak is The Speed Retail Platform, with three product families; Compliance & Risk Management, Supply Chain Solutions and MarketPlace Sourcing and B2B Commerce. The platform provides retailers and suppliers with a robust solution suite to help enhance operational control and increase sales, while enabling them to protect their brands, reduce risk and remain in compliance with regulatory requirements. More information is available at www.parkcitygroup.com and at www.repositrak.com.
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Park City Group
KEYWORD: UNITED STATES NORTH AMERICA UTAH
INDUSTRY KEYWORD: DATA MANAGEMENT OTHER RETAIL SUPPLY CHAIN MANAGEMENT ONLINE RETAIL TECHNOLOGY FOOD/BEVERAGE TRANSPORT RETAIL SOFTWARE NETWORKS LOGISTICS/SUPPLY CHAIN MANAGEMENT
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PUB: 11/13/2019 08:30 AM/DISC: 11/13/2019 08:30 AM