SAN FRANCISCO, April 6, 2017 /PRNewswire/ -- Quri, the leader in Performance Driven Merchandising™, is announcing today the findings from an exclusive white paper released by the Promotion Optimization Institute (POI), the leading resource for trade marketing and merchandising executives. The white paper substantiates the need for continuous, real-time, store-level visibility into merchandising conditions across all major channels and retailers –as achieved by Quri's solution.
"This research comes at a key time given survey-based findings that the Promotion Optimization Institute released this week showing that consumer goods manufacturers are less satisfied with their ability to execute at retail than they were a year ago. It also found that 44% of respondents said they don't have what they need to make decisions at the store-level. Thus, we are very optimistic about new approaches such as crowdsourcing to help improve results in chronic merchandising areas such as product availability and promotional compliance," said Dale Hagemeyer, Partner at the Promotion Optimization Institute, LLC and author of the paper.
Titled, The Evolution of Crowdsourcing: Rise of Performance-Driven Merchandising, POI's white paper highlights the significant opportunity for increasing market share and profits by improving in-store execution through the rapid evolution of crowdsourcing software and technology over the past 2 years, an evolution enabling routine visibility into retail conditions in thousands of stores daily. Early adopting consumer goods manufacturers, including adult beverage manufacturers, who go to market through a complex network of distributors, are now beating their competitors by directing their field force(s) efficiently to rapidly seize opportunities at the store-level. For example, POI's research paper includes a case study illustrating ROI of nearly $14M USD in a 3-month period.
"Research from POI suggests 76% of CPG manufacturers are searching for ways to increase the return on asset from their field labor investment by improving their efficiency," comments Justin Behar, CEO of Quri. "Data-driven insights are vital to driving this improvement in efficiency. We are now seeing the scaled use of in-store merchandising conditions by leading CPG companies to optimize field labor resources and create a competitive advantage when it comes to in-store merchandising execution."
As noted by POI, crowdsourcing enhances the abilities of the existing field force(s) by focusing their efforts against the activities that will yield the greatest return. Additionally, the crowdsourced capabilities eliminate the need for the field force(s) to spend time collecting data, allowing them to concentrate on execution and driving overall merchandising performance at the store-level. POI cited Quri as a market leader and a prime example of the successful application of performance driven merchandising.
The research paper not only articulates the opportunity now available to manufacturers to leverage crowdsourcing, but also explains how "crowdsourcing done right" leads to Performance Driven Merchandising™. To read the full white paper, please visit: Promotion Optimization Institute: http://poinstitute.com/wp-content/uploads/2017/03/TheEvolutionofCrowdsourcing-RiseofPerformance-DrivenMerchandising.pdf.
Quri is the leader in Performance Driven Merchandising™, transforming the in-store experience by providing continuous, real-time, store-level visibility into merchandising conditions across all major channels and retailers in the US market.
Procter & Gamble, Nest, Red Bull, Tyson, Nestle, and Johnson & Johnson plus 100+ other global companies rely on Quri to help optimize the $4 trillion dollars spent annually on retail go-to-market and in-store merchandising. Quri is powered by proprietary data quantifying the shopper view in-store and collected by an on-demand retail workforce. For more information on Quri or Performance Driven Merchandising™, visit http://quri.com.
About the Promotion Optimization Institute
POI brings together manufacturers, retailers, solution providers, analysts, academics, and other industry leaders with the specific objective of collaboratively improving the promotion and distribution of consumer goods. Members of POI share cross-functional best practices in both structured and informal settings. Additionally, members benefit through our industry alliances, the Certified Collaborative Marketer (CCM)™ program, and industry-leading summits around the globe. POI aims to instill a financial and metrics-based discipline not typically found with other trade groups. The goal of our innovative approach is collaborative promotion optimization. For more information visit http://www.poinstitute.com/.
Media Contact: North 6th Agency, Inc. (For Quri)
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/the-promotion-optimization-institute-validates-quris-performance-driven-merchandising-efforts-through-leading-white-paper-300435856.html