MOUNTAIN VIEW, Calif. and PLANO, Texas, Jan. 24, 2019 /PRNewswire/ -- Retail Solutions, Inc. (RSi), the global technology provider for CPG manufacturers and retailers, and CROSSMARK, a leading sales and marketing services company, today announced the launch of OSA360, the first end-to-end offering enabling CPG manufacturers and retailers to solve the massive out-of-stocks (OOS) problem. OSA360 combines the two companies' significant retail industry experience, global footprint and deep technology expertise, to create a one-of-a-kind, "closed loop" offering. The new product is designed to help CPGs and retailers maximize their on-shelf availability (OSA) and recapture the millions that are lost each year to OOS and inefficient in-store execution.
Retail industry benchmarks consistently cite OOS rates of 8-10% for non-promoted products, and 10-15% for promoted items. As a result, OOS problems cause an estimated $130 billion in annual lost sales in the US retail industry alone. Retailers and suppliers have long attempted to address the OOS issue through a variety of measures involving people, processes and technology, but these efforts have fallen short because of a lack of end-to-end integration.
OSA360 from RSi and CROSSMARK is the industry's first comprehensive solution to solve that problem, and more. By combining RSi's proven on-shelf alerting technology with CROSSMARK's unparalleled in-store services and execution support, OSA360 finally closes the "technology/execution" loop to give retailers and CPGs significantly faster and more effective action on OOS alerts. This creates satisfied, loyal shoppers, leading to substantial increases in recaptured sales and higher profits.
RSi and CROSSMARK are currently in discussions with several major retailers about implementing OSA360 with their CPG suppliers.
"We are thrilled to partner with CROSSMARK to truly change the game for the retail industry by helping CPG manufacturers and retailers to not just address the massive OOS problem, but finally solve it," said Bert Clement, Chief Executive Officer of RSi. "RSi is a global leader in building the technology that helps to fix the OOS problem, but even our sophisticated alerting solutions are not as effective as they can and should be if the alerts are not acted upon. The breakthrough OSA360 product that we are launching with CROSSMARK solves that problem once and for all by 'closing the loop' between the alerting technology and the in-store services needed to correct the OOS issues."
"OSA360 will deliver a clear and superior ROI for retailers and CPG suppliers by seamlessly resolving alerts in a very timely fashion through a single source solution," said Steve Schuckenbrock, Chief Executive Officer of CROSSMARK. "We're excited to be partnering with RSi to bring OSA360 to market and enable the retail industry to recapture millions in lost sales and win the battle for consumer loyalty."
Other key benefits that OSA360 will provide to retailers and CPG manufacturers, include:
- Optimized supply chain, including significantly increased aggregate OSA percentages
- Unified vendor OSA scorecard, giving you benchmarks to improve supplier performance
- Increased innovation success, including better launches
- Smoother rundown compliance
- Increased supplier satisfaction, through faster OSA alert response, improved display and innovation management, and a complete ROI model across analytics and labor
- For retailers, greater customer satisfaction and loyalty
Based on industry research, RSI and CROSSMARK estimate that sales can increase by at least 1% for every 3% improvement in OOS performance, which has the potential of doubling growth for many retail industry segments.
RSi is the world's leading provider of proven technology solutions that enable CPG manufacturers and retailers to grow, profit and rule – from supply chain to shelf. Twenty-seven of the world's leading CPG companies and nearly 250 of the top retailers trust RSi's unparalleled industry knowledge, best-in-class technology solutions, and deep data expertise to generate greater productivity and profitability. RSi's cloud-based data transformation engine is fueled by digitally enabled technologies that deliver real-time, actionable insights seamlessly across every channel. CPGs and retailers recapture hundreds of millions of dollars in lost sales each year with the RSi IRIS platform, the world's #1 on-shelf availability solution. RSi's employees, located in 20 locations across the globe, are passionate about empowering customers to rule the shelf, and own the future. To learn more, visit www.retailsolutions.com.
CROSSMARK is a leading sales and marketing services company that provides growth solutions for consumer-branded suppliers and retailers. For more than 100 years, CROSSMARK has helped the world's most powerful brands achieve their business objectives across major classes of trade. Expertise includes Headquarter Sales, Retail Merchandising, Retailer Solutions, Shopper and Consumer Engagement, In-Store Events, Experiential Marketing, Shopper Marketing, In-Store Data Collection & Field Intelligence, and Analytics & Insights. CROSSMARK is majority owned by Warburg Pincus, a global private equity firm focused on growth investing.
RSi (Retail Solutions, Inc.)
SOURCE Retail Solutions, Inc.