Pulse presents a number of insights about your store to help you increase profitability and fix issues that are costing you money. Insights can be found on the right hand side of your Dashboard when you log in to Pulse.
What is the Products Not Sold insight?
Every product finds its level in a store, this is its rate of sale once it has bedded down. Once a product has bedded down, we sometimes see a level of complacency creep in where we suddenly lose sales of products because we have forgotten to order them or they have been moved in the store and the people who were buying them no longer see them. How does the retailer keep on top of this?
Pulse highlights products to you where the trading pattern has become suddenly worse - it can do this because Pulse monitors the “normal” frequency of sales of a product in the store and when it sees a variation from this norm can call it out.
Why is it useful?
A lot of the time when a product suddenly stops selling (one which has a decent rate of sale in general) the reasons can be pretty insidious.
Forgotten to reorder (not a KVI so attention is elsewhere)
Maybe in stock but not on the shelf - no shelf gap management done in a few days, or worse the gap where that product normally sits is occupied by spillover from the products on either side. Digital labels can help with gap management.
The product has been re-merchandised but the customers who normally buy it can no longer find it, or forget about it because it's not in their eye line.
Every day an average product like this is not present or sold it's like a slowly leaking pipe - on its own it does not cause much damage but given time (and multiple of products affected), and repetition it can add up to a substantial loss of revenue .
How does it work?
The below grid is an example of what you see when you click on this insight. We will go into detail about each of the columns below, and you can read our How to use Grids guide for more information on how to navigate pages like this in Pulse.
Note: If you want to view any image in this article in more detail, you can right click the image and click 'View in new tab'.
Before we get into detail, we want to highlight three key areas of this insight (highlighted with numbers above):
The typical frequency of sale (in days) normally experienced by this product. (Every day would be 1, every 5 days would be 5)
The days since a sale has occurred on this product - if that is greater than the typical frequency (by 3 days (or specific tolerance)), the product is included in this insight.
Based on the average revenue per day on this product, and the number of days without a sale how much revenue has been lost.
Selection Box: This allows you to select this product so that an action, or an exclusion can be carried out. Note: multiple products may be selected at the same time to carry out the same action and or exclusion.
Product: The product description.
Category: This is the category associated with the product.
Barcode: The product barcode.
Supplier Code: Code used internally/for ordering.
Last Stock: The date Pulse last received a stock position for this product.
Stock Qty: The stock position presented to Pulse from the ePoS system, at the date presented above.
Note: A negative stock position suggests trading without receipting of stock.First Sold: The date this product was first sold in the store (or 2 years ago if present in the store for more than 2 years).
Last Sold: The date this product was last sold in the store.
Days Available: How many days has this product been in the store - essentially the difference in days between first sold and last sold.
Sold Every (dys): The average frequency of sales in days for this product. For example, 1 means every day, 4 means every 4 days, 7 means every 7 days.
Days Since Sale: How many days have passed since a sale against this product - once this is greater than the “Sold Every(dys)” figure (plus tolerance) it appears in this insight. This is based on a tolerance of 3 days, i.e. more than 3 days have passed on top of the normal frequency of sale.
Lost Revenue: The revenue lost based on the days passed without a sale * the average daily sales rate for this product.
On Label: Indicates if this product is on a label.
What should I do?
Check this product in the store. Is it on the shelf? Does it need to be restocked or reordered? Has another product taken over its shelf position, or has it been moved somewhere that is now affecting sales negatively?
You can all add the selected product/products to a campaign - maybe a merchandising or Spotlight campaign to encourage sales.
Need more help?
Email us at support@markethub.ie with as much information about your issue as possible, and we will get back to you as soon as we can.