The secret of channel growth, Trax helps pharmaceutical companies implement the perfect store strategy

A world-leading multinational pharmaceutical company found that its OTC channels that implemented the "perfect store" strategy had an average increase in the number of distribution product groups by two times compared to unimplemented stores, and the average purchase of monomers increased by more than 24%!
From the establishment of the perfect store project to a large-scale application, the perfect store strategy has brought revenue growth and customer satisfaction to the multinational pharmaceutical company
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In the face of gradual intensification of market competition, due to the backward store information collection methods and non-standardized assessment system, the customer was unable to promote perfect store execution in a large area across the country’s OTC channels in a short time and with high efficiency
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There are three main challenges:
• The manual statistics used in store audits are not only time-consuming, labor-intensive, costly, but also lack of timeliness, and there are also serious problems with the sales representatives themselves reporting data
• The collected data cannot meet the localization needs of stores of different levels
• Due to the wide range of stores involved in the audit and the large number of participants, it is impossible to establish an effective sales reward mechanism for the team to encourage sales to achieve the target
Focusing on the customer’s difficulties in implementing the perfect store implementation, Trax uses advanced image recognition and data analysis to help the customer shorten the data collection time, simplify the data collection process, improve the data utilization capabilities, and ultimately achieve the rapid growth of the perfect store ratio and in-store Both sales performance and consumer satisfaction improved
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By establishing a sustainable terminal business strategy and execution standards, the customer is assisted to promote the perfect store project
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What is a "perfect store"? Why is it so important to build a "perfect store"?
In retail execution, we call the stores that meet the distribution, display and recommendation standards defined by the company as "perfect stores
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To build a "perfect store", companies need to be able to transform consumer-centric insights into actionable, marketable, and replicable store implementation guidelines, so that consumers can find the right products at the right shelf positions, and at the same time, Let the product display and combination achieve the optimization, in order to maximize the impact of consumer behavior
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According to IQVIA research data and the report of the Institute of Prospective Industry, in 2021, among the main sales channels of OTC drugs in China, offline retail pharmacies will still be the main purchase scene, accounting for about 54%, the third terminal accounting for 17%, and the hospital channel It accounts for about 21%
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With the current demographic dividend disappearing and consumption shifting to the stock market, the purchase experience of consumers when they enter the store determines whether they will be enough to buy your products
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Therefore, by creating a "perfect store", the shelves, display, secondary display, and promotion of the products that consumers purchase can be perfectly compliant, and consumers can be captured to the greatest extent
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On the contrary, if the company cannot see the real situation in the store, it will not be able to propose targeted improvements for different stores, let alone implement the core elements of the "perfect store" implementation to every store
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How does Trax do it?
Trax's perfect store execution solution uses four steps of image capture, image recognition, execution inspection, and insight suggestion to change the past manual statistics method and use advanced image recognition and deep learning technology to collect store information
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Whether it’s for shelves, mandatory inventory SKUs, or for KPI indicators such as the minimum number of noodles, shop patrol compliance, etc.
, through the Trax perfect store execution solution, only the sales representative needs to use the mobile phone to "click", store and product display information It will be automatically uploaded to the Trax cloud, through the background recognition and calculation, to issue different levels of execution guidance and store reports for frontline sales and management personnel
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Employees at different levels share consistent data, so the "perfect store" strategy can quickly help decision makers adjust display and advertising strategies
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In cooperation with this multinational pharmaceutical company, Trax has established sustainable terminal business strategies and execution standards for customers from five directions through continuous inspection and tracking:

Today, Trax's perfect store execution solution has been implemented in the multinational pharmaceutical company's 50,000+ stores in China
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Through cooperation with Trax, the customer’s percentage of perfect stores in China has rapidly increased by 43%, and has achieved a 10% increase in distribution nationwide
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Learn more about "Trax Perfect Store Execution Solution to Promote Terminal Sales Execution" best practice cases in the pharmaceutical brand industry, follow Trax WeChat official account, get detailed content, and start your "perfect store" journey
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