As the fight for limited shelf space increases and every single company attempts to make a difference in the stores that matter to them.... nomenclatures like Perfect Stores, Vision Stores, Badshah stores etc. have become quite common. Retailers are incentivised for the shelf space they give for display, for share gain and for meeting targets. Unfortunately, the objective of the Retailer Payout Program falls through as organisations fail in managing the fulfilment of the program. As a result, most of the retail loyalty programs do not end up meeting the stated objective...that of bringing a smile on the retailer’s face.
Where the company ends up missing the plot completely is when the feet-on-street (FOS) sales person starts using the payout as a sales tool as against a retention tool. In fact, more often than not, the sales reps use it to negotiate higher orders from the stores. This leads to lower sales when the incentive is withdrawn. Also, many a time, the retailer is unaware of the exact amount paid by the company as disburser of the amount and negotiator for the scheme is same. Money also gets misused deliberately to meet local sales targets. The Retail Payment System in India is flawed.
At Retail Scan, we realised these systemic flaws long back and have been trying to get the CPG companies to admit and start making direct retailer payout into their account with the right communication through our Retailer Payout Program.
What Retail Scan Brings to the table:
- PAN India Field footprint for complete retailer KYC data collection.
- Fully integrated offering with Field, QC, Call Centre, Fund Transfer Unit, GST Compliance Cell and Bank Account Management to ensure direct payout transfer to retailer’s bank account
- Functional call centre for clear communication to retailer on payment/ program objective.
- Trained accounting team for Quick, Easy and Fool proof reconciliation.
- Dashboard for retailer and clients to track payout.
- Mobile App for retailer to generate invoice and edit/upload details