A few days before the national holidays in Mexico (September 16) and Chile (September 18), everyone knows that they will have to spend more money on their respective celebrations. Inflation has strongly affected Latin American countries, for example in Mexico it reached 8.6% in July and although workers had an increase in their salaries of 6.7% in February, their quality of life has been affected.
According to Mexican media, national holiday celebrations have become 22% more expensive and it is already clear which will be the most expensive destinations to enjoy this important date: Guanajuato, Tabasco, Hidalgo and Mexico City.
In Chile the situation is similar, as inflation reached 14.1% this year, its highest level in 3 decades. And according to the country's media, having an asado (typical celebration during national holidays), varied by 22.5% between this year and last year. This is due to the fact that products have increased in price, especially imported ones, so it is recommended to choose national products.
But this situation not only affects the end customer, but also the companies, which have seen their profits decline. Among the main reasons are: the increase in the price of raw materials and higher distribution costs. One example is Agrosuper, a Chilean company whose profits fell by 23% during the first half of the year (according to the Chilean newspaper DF).
Given this reality, it is of great importance for brands and companies to optimize their points of sale and avoid lost sales. To do so, they must have a good efficiency in their processes, how can this be achieved?
- With our point-of-sale tool, Taskmanager™, you can access alerts for in-stock and out-of-sale products.
- Typically you need to replenish and secure your layout, to prevent your competitors from taking over the shelf.
- Verify that the price band is updated and visible to the public. It happens to all of us that we do NOT buy when we have doubts about how much the product costs.
- And if the stock does not exist and you requested an adjustment. Raise the alert in Taskmanager™to let your CPFR or supervisor know that you already did management in the room and coordinate with the chain.
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