To gain excellence in retail execution, CPG brands are beginning to invest substantive resources of the organisation. Their sales and marketing teams focus on data to unlock the insights required to capitalise on market opportunities. Such teams evaluate three types of data sets to create their route to market strategies:
Field data includes the total number of visits, time in the market, the number of beats covered etc.
In-store data includes stock volumes, location of assets, quality of displays and promotions, planogram compliance etc.
Sales data includes SKUs sold, comparisons to other brands/categories/SKUs etc.
These data sets provide the brands with a comprehensive understanding of their performance in the retail outlet and the market. It is beneficial when analysing the efficacy of the merchandising initiatives at the shelf.
By monitoring their field personnel’s performance, senior executives can help boost the performance of their teams and their in-store shelves. Here are a few ways that field data can enable it:
- By monitoring beats and optimising routes, ASMs and RSMs can ensure best-in-class service to outlets and assure merchandising standards are met at every store
- Tracking time in the market of the field personnel and comparing it to the merchandising standards at each store
In-store data analysing merchandising at the store can give brands valuable insight into what approach results in higher sales.
- Comparing shelf positions in stores to sales data provides insight into the sales-generating shelf positions for their products
- Track store conditions to determine where the brand’s interventions would yield the best results
Sales data can provide brands with insights into merchandising and actual sales volumes.
- Sell complementary products based on the efficacy of cross-merchandising initiatives
- Impact of newly launched products on the sales of existing products
Data enables brands to improve visibility into how their products at performing at the shelf in stores.