Auto-Replenishment offers consumers the peak of convenience, blocks the competition and increases revenue.
Auto replenishment is using IoT devices, embedded with technology such as Bluetooth, wireless, NFC and RFID to sense when supplies are running low and automatically reorder before they run out. Consumers are increasingly viewing regular, repeating purchases such as detergents, filters, paper products, and pet food as another unnecessary weight on their heavy mental load. The more of these products that can be automatically refilled, the more products they will expect to be handled without thought.
For companies, this creates an efficient and predictable way to increase revenue while simultaneously removing the chance for competitors to displace your brand. According to Windsor Circle, a company that specializes in providing retailers with auto-replenish programs, companies average a 7% increase in revenue and 10% increase in orders, when they use a proper auto-replenish system. This also gives your company access to data on consumer patterns to send customizable content and enhance your products.