Woolworths app could recoup millions in lost sales for suppliers
Woolworths has invested several million dollars in a new app which will allow suppliers to monitor the performance of their products in each store.
The free app, known as Compass, could recoup millions in lost sales for suppliers while also improving product availability and merchandising for customers.
Compass draws on historical sales patterns to calculate dynamic daily sales expectations for every product in every store, and alerts suppliers if sales drop below expectations, meaning out-of-stock or merchandising issues can be solved faster.
“We’re proud to be the first Australian retailer to invest in a free lost sales monitor for our suppliers,” Woolworths Director of Fresh Foods and Replenishment Paul Harker said.
“We see it as a genuine win-win because a lost sale for a supplier is a lost sale for Woolworths, and most likely an unsatisfied customer.”
The new app is expected to make it easier for the more than 10,000 third-party merchandisers that visit Woolworths stores each month.
Australian field sales agency Crossmark trialled Compass during its development.
“Compass is an incredibly helpful tool for our merchandisers in Woolworths stores and the feedback from our team has been great,” Crossmark Director of Operations Luke Johnson said:
“It also provides us with greater insight across our whole field force, which helps ensure we’re focused on addressing the right things in the right stores for the benefit of our clients and their customers.”
Compass is available to download for free on both Apple and Android.
This story originally appeared on sister-site Inside FMCG.