Measuring and forecasting labor demand
Supporting employee well-being and optimizing performance is a balancing act that companies globally practice. It is also a challenge leading many corporate groups, particularly in the retail industry, to seek tech solutions.
Concerns about the labor pool in the coming years have been a recurring theme and the motivation for investment and innovation. Xovis professionals discussed the issue at length with partners, including Peter Nicolaus and Naoufal Chaghouani from German analytics specialists IMAS Group.
The pair delivered a fascinating presentation about forecasting performance and staff needs using a KPI cocktail combining footfall, sales data, and a store’s conversion rates. The solution is designed with a focus on brick-and-mortar retailers working to maximize the level of service during shopping peaks, which were well-represented in Dusseldorf.
Shrink and friction in retail
The industry focus on shrinkage spanned the Atlantic, creating a nice discussion bridge between NRF in New York and EuroShop in Germany. Shrink and loss prevention remained buzz words, often spoken in the same sentence as frictionless shopping and data solutions.
Though the topic is a cause of much worry in the industry, Xovis loved how innovators are relentlessly looking for solutions. We enjoyed a talk from Mikael Bengtsson, the VP of Product Management & Sales for Sweden’s ITAB, about how retailers limit loss at self-checkout areas.
Predictive analytics and event monitoring
“Tomorrow’s retail belongs to those who can see it coming.” This pearl of wisdom prefaced an excellent talk from David Sturdy of UK-headquartered PFM Intelligence Group. PFM’s sensor-based solution is used to forecast and optimize staffing levels for British cosmetic darling Lush, among others.
The firm can also use data to predict and measure the results of events. Will my event make money? Did my event make money? Two questions retailers and other event planners are constantly asking. While Xovis didn’t see any crystal balls at EuroShop, this option was a close second.
Doing business in Düsseldorf
As a Swiss company, we have a particular affinity for events in our corner of Europe. Showcasing in Düsseldorf, a charming city with a great business atmosphere, is always a treat for Xovis professionals, especially the Swiss German speakers looking to amuse their neighbors to the north with their accents.
"The caloric demands of this event are incredible, five days of non-stop movement," Anne Wyder, VP of Channel Sales for Xovis, joked. "We are leaving Messe Düsseldorf extremely satisfied with the event's organization and the connections we made, all of which point to an even brighter future for Xovis and in-store analytics."
This year's transport strike made traveling in the city more interesting, but who doesn't love a challenge or a late winter walk? Xovis was very satisfied with the show and looks forward to EuroCIS 2024.
Tags: | retail | EuroShop 2023 | in-store analytics | KPI | tradeshow