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Retail Business Review | Friday, August 18, 2023
With exact retail shelf visibility, strategic business insights, and in-store execution, Acosta and Pensa Systems have teamed to generate revenue growth for CPG companies and retailers.
Fremont, CA: Acosta's array of forward-thinking, commerce-centric solutions helps today's leading brands, retailers, and food service companies to thrive in the modern marketplace. Acosta has built trusting connections and an unrivaled scale since 1927. Acosta's network of enterprises enables businesses to interact with shoppers wherever they are in a complicated and rapidly expanding omnichannel environment. They are connecting tomorrow's commerce now with data-driven growth strategies and excellent consumer experiences.
With exact retail shelf visibility, strategic business insights, and in-store execution, Acosta and Pensa Systems have teamed to generate revenue growth for CPG companies and retailers.
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Thanks to its proprietary superior AI and computer vision technology, Pensa is the market leader in automatic retail shelf intelligence. Pensa provides the source of truth about what's occurring on the retail shelf to reduce stockouts, boost shelf share, optimize product planning, and boost the omnichannel customer experience. Pensa collaborates with major CPG businesses and retailers worldwide to solve a trillion-dollar "blind spot" in the sector at a key juncture.
This new collaboration brings together Acosta's retail business intelligence, analytics, in-store data collecting, merchandising solutions, and Pensa's proven best-in-class shelf intelligence.
In collaboration with Acosta, Pensa informs a range of key performance measures, including on-shelf availability (OSA), space optimization, shelf compliance, and promotional efficacy, demonstrating adjustments that lead to higher revenue lift. The process's convenience and speed - any hand-held device may take a whole aisle in less than 17 seconds - allow learnings to be implemented more rapidly and correctly than traditional procedures of employing point of sale (POS) data, often in conjunction with back-room inventory data. Brands and retailers will profit significantly from these new, near-real-time shelf analytics.
"We are excited to collaborate with Pensa to deliver the source of truth for what's happening on the retail shelf through computer vision and advanced AI," said John Carroll, President of Digital Commerce and Advanced Analytics Acosta Group. "Our combined capabilities and solutions will accelerate sales and trade, optimize retail operations, and further drive category ROI at the shelf for our clients and customers."
The Pensa collaboration increases Acosta's specific solution for shelf success—Pensa's assistance in reducing out-of-stock results in higher sales. Acosta provides expert business intelligence to review and analyze shelf performance, developing tools such as out-of-stock alerts, replenishment process optimization, optimal pricing strategies according to elasticity and profitability, measurement of brand performance vs. category and competitors, and measurement and optimization of the effect of category resets. Earning or retaining category captainship is critical to driving category ROI.
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