Click to watch : Trax — Transform the Health of Every Retail Shelf 31 help to discern the best product assortment for a store , the best location for a product and the best displays , as well as what pricing and promotion strategies are likely to succeed . This can not only help to enhance the customer ’ s shopping experience but can simultaneously boost sales opportunities .
“ Generally , a CPG company has a view of what they call a ‘ perfect store ’ and the use of technology and data science solutions can really help to support that process ,” says Smethurst . “ We ’ ve seen a lot of growing trends . CPG companies do a lot of techniques like called brand blocking whereby you have blocks of a company ’ s products so that you ’ re drawn towards it and that sells more .
“ We ’ ve also started to see more subtle trends : for instance , some products are very ‘ elastic ’, so the more space you give to a particular product the more it will sell . Then there are other products that are inelastic . It doesn ’ t matter how much space you give them , they will still sell the exact
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