Mark Cook VP, ProductThe digital world has accelerated the volume, velocity, timing, and variety of data at an amazing pace. Incredibly, this trend now allows brands, who have been blind to what has actually been happening in-store for the past 100 years, to see clearly, act faster, and execute with confidence. Big data has made this possible from the point of purchase, to outperform competition, improve operations, and make faster and more intelligent planning decisions. “Historically many retail organizations struggled to attribute even a rough Return on Investment (ROI) to their in-store promotion and everyday shelf health investments in spite of the myriad of existing data analytics solutions. In vain, they were hoping to measure the point of purchase impact without the actual data needed to do so,” says Mark Cook, VP, Product, Quri. “We measure every activity using mobile technology at the point of purchase and gather insights that help a brand win in-store in near real time,” adds Cook. Quri calls it Retail Intelligence Technology; it’s a combination of mobile technology leveraged by a 300,000 person strong consumer retail workforce to gather the data and analytics necessary to optimize the $4 Trillion dollars spent each year by manufacturer’s trying to win in-store daily.
Quri’s innovative retail intelligence technology measures in-store conditions like price, promotion, and everyday shelf health to help drive sales, reduce cost, fix issues on a daily basis, and vastly improve planning and resource management. “Quri is one of several new companies leveraging mobile workforces and the power of big data to help uncover inefficiencies in stores, so that brands and retail partners can remedy issues quickly,” says Cook. The company improves the performance of the retail industry and provides real-time visibility into how promotions are actually being executed in-store, and delivers the actionable insights needed to develop smarter plans and deliver better results via a dashboard and alerts system on the desktops, tablets, and phones of hundreds of brand employees.
Quri’s retail intelligence provides the details of in-store display execution including store level data with photographic evidence that also tracks the performance over time.
We aim to provide better shopping experiences for consumers and higher in-store sales and ROI for brands and retailers
This helps brands to take actions to fix compliance issues for immediate ROI and correct problems that cause repeated subpar performances. The ability to improve execution and choose “best of breed” promotions that lead to the highest sales lift as well as eliminate negative ROI promotions drive huge gains for both brands and retailers. “We aim to provide better shopping experiences for consumers and higher in-store sales and ROI for both the retailer and brand,” says Cook.
Quri prides itself on a relentless focus and expertise in FMCG world. “Quri is a vertically integrated technology that generates accurate quantitative data quickly and distributes it to customers,” says Cook. Since inception, Quri has repeatedly proven its ability to drive ROI for its brand clients. For example, one major customer has seen an 11 percent increase year-over-year in the number of displays that makes it into stores. In another instance, Quri helped a food manufacturing company to increase its promotional sales by 300 percent from optimization only possible via Quri’s insights and analytics.
With many such satisfied customers across industries, Quri plans to further extend its capabilities to gather data quickly. Cook envisions Quri providing physical retail with the ability to operate at ecommerce speeds, optimize on the fly, and improve the shopping experience in the same way as ecommerce does on-line today. “Our innovation will be vital over the next 1-2 years in creating profit growth for manufactures and retailers by uncovering store-level opportunities that were never visible earlier,” concludes Cook.