Hey everyone! Here's a quick recap on our exciting webinar from last month with space planning experts, Flora Delaney and Andy Nielsen. A big thank you to our speakers for sharing their insight on the future of space planning for 2024. Check out the full webinar recording here.
Here's an overview of the 4 predictions from the webinar:
1. Data Disruption: Harnessing and Leveraging Data for Competitive Dominance
The anticipated tripling of data between 2020 and 2025 demands a fundamental shift in how we approach future space planning. This emphasizes the importance of data enrichment and data integration for more strategic decision-making.
2. Store-Specific Planogramming: Tailoring Strategies for Retailer's Success
Store-specific planograms are becoming a new standard but can be intimidating to execute. Recent developments in technology are making store-specific planograms more attainable with more efficient processes. Store-specific planograms are crucial for many reasons including optimizing inventory for individual stores, which helps to avoid suboptimal stock situations.
3. Citizen Scientists: Equipping Teams for Superior Results
For those in the roles of category management, the focus is shifting towards business mastery rather than the technical tasks of space planning. In the past, there was a need for deep technical knowledge, but now, with more accessible tools, teams are working to ask relevant questions and find efficient answers, even without in-depth technical skills.
4. Leveraging AI: Mastering Complexity in Assortments and Planograms
Closing the webinar, Flora and Andy emphasized the role of Artificial Intelligence (AI) in streamlining mundane tasks within space planning. By allowing technology to handle routine processes, teams can redirect their focus towards the strategic value of space. With the ability to process large amounts of data, technology can also help determine the most effective assortment for a specific store, considering constraints like limited space.
To hear more, check out the full webinar recording here. We appreciate Flora and Andy for providing such invaluable insights into the future of space planning.
Stay tuned to our blog for more updates, insights, and innovations in the world of space planning. The journey towards 2024 promises an exciting future, and we're thrilled to be at the forefront of it all!
To learn more or hear about our space planning tool, Shelf IQ, reach out to us at hello@nuqleous.com.