They say a lot changes in a decade. But 2020 brought forth a decade’s change, in just a year. Things we never thought would happen, happened and continue to happen even in this new decade.
Take the example of the following three changes in the retail pulse that you might not have expected to happen, but are happening right now!
- This summer, people didn’t want coolers. Instead of beating the heat with ice creams and cold drinks, consumers are choosing to keep spending focused on essentials.
- HENRY’s (High-Earners-Not-Rich-Yet) are the new luxury buyers.
- Beauty stores offering a digital experience are here to make makeup more mesmerizing.
Brands that benefited from these trends moved fast to find the right market data at the right time. It ensured that business operations matched market expectations.
This 360-degree real-time visibility is bridging the gaps in the supply ecosystem today. We have witnessed this first hand, when a leading global confectionery brand was able to improve their fill rate at retail outlets to 99.7% and increase their primary sales by 75%, using data reports from Bizom’s OneView, a retail analytics solution.
It used to take weeks to create such data reports. However, with tools like OneView, brands can access data and insights in real-time. It transforms retail by giving immediate information on the market pulse.
Intelligent data in the hand of a sales representative, at the right time, makes it possible to track productivity, revenue and market opportunities. For the sales manager, it can deliver category insights, regional trends and buying patterns. This real-time monitoring makes it possible for brands to realise their next growth strategy and build manpower efficiency and channel performance. And for sales heads, it’s always better to know how much they sold even before the coffee gets brewed.
With such Business Intelligence tools, it’s now possible to know what’s at the end of the horizon. Want to know the pulse of your business? Sign up here for a free demo or get in touch at email@example.com.
Rituparna likes to play with words that impact. A millennial with love for marketing, she’s keen on knowing everything that makes a consumer tick. She likes to doodle, travel and enjoy life as it unravels. Music and memes mostly make her day.