London – November 7, 2013
A study released today by Infosys revealed that the retail industry is regularly missing out on sales opportunities with seven in ten British shoppers often faced with in-store stock shortages.
The independent study, State of the Store, is based on a survey of 2,250 consumers and 75 major retailers in France, Germany and the UK. The study found that there are significant revenue opportunities for retailers who collaborate with their fast moving consumer goods (FMCG) suppliers to create a more personalized and convenient shopping experience. By working together to ensure they stock the right amount of the right product, in the right part of the store, supported by the right promotions, both retailers and their FMCG suppliers can secure profitable growth and increase market share.
Karmesh Vaswani, Vice President and Head of Europe – Retail, Consumer Goods and Logistics at Infosys: “Radically changing consumer expectations have disrupted the traditional model of retailing. Today, major retail chains need to create an ‘ideal store’ experience which meets the needs of local shoppers in each and every store. This requires new forms of close collaboration between retailers and FMCG suppliers to get the tills ringing. Those in the industry that get this right will reap the rewards in terms of increased sales and improved customer loyalty.”
Vanson Bourne on behalf of Infosys polled a total of 750 consumers and 25 retailers including store managers and category buyers/leads of food and non-food products in the United Kingdom between July 29 and August 30, 2013. The same questions were posed to equal numbers of consumer and retailers in France and Germany.
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