Retail Solutions Inc. (RSi), a global provider of cloud-based, Big Data analytics and real-time intelligence for the consumer products industry, announced it has selected Gigwalk, a local visibility software platform, to power its new RSi Intelligent Crowdsourcing solution. According to the companies, the new offering provides clients with end-to-end business intelligence that drives sales by delivering real-time, actionable intelligence to field operations for improved in-store retail execution and on-shelf availability.
Under the terms of the agreement, RSi Intelligent Crowdsourcing will combine RSi's daily downstream data and alerting capabilities with Gigwalk's enterprise platform for on-demand access to Gigwalk's public network of 550,000 mobile-enabled independent contractors. The integration will enable retailers and brands to gather and share in-store intelligence, identify gaps in the supply chain, and trigger actions at the store level to correct errors in near real-time.
Each year, $800 billion in revenue is lost globally to avoidable issues like out-of-stocks. Using RSi Intelligent Crowdsourcing powered by Gigwalk, suppliers can accurately detect store or event conditions, send real-time fix notices to store teams, share observations with the value chain, and reclaim lost sales. Pilot testing prior to launch, which was completed with five major retailers and multiple industry leading suppliers, resulted in an average ROI of eight times the original investment. In some instances, returns as high as 18 percent were achieved over a few weeks.
"This is a truly new and innovative approach to solving many store-related problems," said Peter Rieman, COO of RSi. "By combining hyper-local, crowdsourced intelligence with real-time alerting and mobile technology, we are — in many cases — providing the most cost-effective and timely way to understand, audit and solve in-store activation issues. We believe this solution is a game changer for the industry and we expect to expand this capability to address multiple in-store challenges including on-shelf availability, display compliance, new product introduction, seasonality and more."