In the dynamic retail industry, effective collaboration between CPGs and retailers is crucial for maintaining a competitive edge.
Prioritizing data sharing in their sales, marketing, and supply chain strategies allows consumer brands and retailers to obtain and transform valuable insights into actions that optimize the retail value chain for win-win, profitable relationships.
Using a single source of reliable and comprehensive demand and supply data that can be easily and frequently shared for joint business planning enables brands and retailers to leverage their data fully.
Accurate historical and daily POS data from retailers, along with sales trends and market insights, enhance visibility for predicting consumer demand and optimizing supply chains.
Shared insights into consumer preferences, needs, and feedback help companies identify market gaps and accelerate product development to meet consumer expectations.
Create more personalized marketing campaigns, targeted advertisements, and interactive experiences that resonate with target audiences and lead to increased consumer engagement, sales, and revenue.
Sharing daily inventory data at the SKU and store levels minimizes stockouts and overstocks while enabling more efficient logistics planning, reduced lead times, and cost savings throughout the supply chain.
Examining daily sales and inventory data at the SKU and store levels before and after promotions offers important insights for refining current trade promotions and enhancing future ones to maximize ROI.
Understanding shopper purchase behavior can enhance loyalty programs and help develop tailored retention strategies, and also create brand advocates, leading to more sales and improved brand reputation.
Analyzing and acting on shared granular data leads to smarter business decisions and allows for timely responses to market changes and shifts in consumer demand, helping brands and retailers to outperform competitors.
Data sharing enables CPGs and retailers to jointly make informed decisions that optimize product assortments, shelf placements, and category management strategies.
The road to deeper insights that drive sustained, profitable growth begins with identifying the right data to share. Focusing on key data types can unlock actionable business intelligence that leads to mutually beneficial outcomes.
Gain a clear, comprehensive view of product performance and consumer demand with daily SKU-store sales data.
Align replenishment strategies to meet real-time needs and ensure shelves are stocked with the right products at the right time.
Share timely insights into emerging products, product categories, and consumer preferences for proactive sales forecasting and demand planning.
Analyze which promotions generate the highest engagement and sales and refine strategies to develop effective campaigns.
Successful collaboration thrives on trust. Build it and watch your partnerships flourish.
When conducted properly and backed by accurate data, data sharing can be incredibly powerful, significantly enhancing the usability and value of information. It plays a critical role in achieving success in both physical and digital marketplaces. In today’s retail environment, data sharing is essential for a company’s digital transformation, promoting innovation and driving profitable growth.
Contact us today to learn how Retail Velocity can help you automatically gather, prepare, and fully utilize the most precise retail data from all your retailer partners.
Download our Power of Dating Sharing infographic.