The biggest opportunity for retailers this Christmas period is in addressing over & under-coverage. Not having the right people in the right place at the right time leads to a poor customer experience, revenue walking out the door and staff that are run off their feet.
Over-coverage is the result of miss matching labour and demand, generally from poor forecasting
Under-coverage is the more extreme result where a poor forecast is miss matched with the required staff.
1) Increased Labour Costs
Over-staffing increases labour costs un-necessarily. Profitability declines, staff are under utilised and productivity decreases.
2) Poor customer experiences
Customers don’t forget long queue times, distracted staff or poor store presentation. Undercoverage is a short and long-term cost, reducing customer experience and loyalty.
3) Lost revenue
Unserviced customers means money walking out the door and heading to your competitors.
Matching the supply and demand of labour is harder than it sounds.
It starts with being able to accurately forecast sales store by store, looking at what drivers are impacting each store.
Then using the available types and requirements of labour build a shift pattern that delivers on both cost and service levels through coverage!
On average we find that retailers have over-coverage of 12% but under-coverage during peaks of 22%!
Widget Brain are the specialists when it comes to retail optimisation.
Using a wealth of experience in retail and advanced algorithms and AI technology we're able to provide accurate and scalable solutions.
Getting started is easier than you think, book a consultation with one of our specialists to discuss how we can help today.
Here’s a quick checklist of what you would need to get started and capitalise on the Christmas rush this year.
Based on your actual data, we can tell you what your under and over-coverage, revenue opportunity and potential cost savings are. Request a demo and start optimising your schedules today.