When operating in a highly competitive space, every dollar counts. For one ready-to-drink (RTD) beverage brand, missing key opportunities to optimize their shelf presence could have resulted in significant losses. By leveraging Wiser’s Retail Intelligence, they not only mitigated these risks but also recovered $1 million in losses.
The Challenge: Missed Opportunities on the Shelf
Competition for shelf space is fierce. This brand knew that success depended on ensuring their products were not just present but prominently displayed across key retail locations. Key challenges included:
- Asset Visibility: Tracking the location and condition of their branded fridges across retailer stores required a robust solution.
- Risk of Ghost Assets: Without regular field audits, the brand faced the risk of having misplaced, unused, or unaccounted for fridges, leading to unnecessary disposal costs and a negative impact on sales.
- Resource Constraints: Conducting in-store audits with internal teams was time-intensive and inefficient and the brand lacked the resources to collect and analyze field data quickly, leaving gaps in their ability to take corrective action.
Each missed opportunity on the shelf translated into sales left unclaimed and a weaker position in the market.
The Solution: Wiser’s Retail Intelligence
To tackle these challenges head-on, the brand partnered with Wiser to implement a scalable, crowdsourced approach to asset tracking and management:
- Crowdsourced Asset Tracking: Wiser engaged mystery shoppers across convenience stores in Australia to locate branded fridges, report asset numbers, and verify their placement within stores, ensuring visibility across a wide geographic area.
- Comprehensive Data Collection: Mystery shoppers also provided insights on fridge conditions, identifying maintenance issues and other factors that could impact performance.
- Efficiency and Cost-Effectiveness: The brand collected data twice as fast as traditional in-house audits, allowing the team to focus resources where they were needed most.
The Results: $1M in Prevented Losses
By using Wiser’s retail intelligence, the RTD beverage brand:
- $1M+ in At-Risk Assets Recovered: The brand avoided writing off 400+ branded fridges, safeguarding key assets (over $1M AUD) and protecting their bottom line.
- 400+ Branded Fridges Audited: Wiser’s network of mystery shoppers audited more than 400 branded fridges across convenience stores in Australia, delivering comprehensive data with remarkable speed and accuracy.
- Critical Asset Issues Resolved: Wiser’s actionable insights enabled field teams to address fridge issues quickly, ensuring they were properly placed, fully operational, and actively contributing to revenue growth.
Conclusion: Key Takeaways for Your Brand
This RTD beverage brand’s journey demonstrates the transformative impact of leveraging retail intelligence to address asset management challenges. Here’s what brands can learn from their success:
- Asset Visibility is Essential: Tracking and monitoring key assets, like branded fridges, ensures they are effectively contributing to sales and not becoming costly liabilities.
- Crowdsourced Solutions Drive Efficiency: By utilizing mystery shoppers, brands can collect comprehensive data quickly and cost-effectively, empowering teams to take immediate corrective action.
- Data Translates to Revenue Growth: Actionable insights from Wiser’s retail intelligence allowed the brand to recover $1M in at-risk assets and resolve critical issues, proving that real-time visibility drives real financial impact.
