TNG BLOG

Data, married up with reality at retail, is smart retailing

Posted by Anita Baldwinson on October 3, 2018
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Customer-obsessed companies are using their data in ever smarter ways. Today, technology systems are a great resource, allowing for smarter decisions being made at retail. Those systems are providing more and more sophisticated analytics to be able to slice and dice the information for those decisions. John Tavolieri, President of U.S. FMCG and Retail and Chief Technology and Operations Officer at Nielsen states... “Now more than ever, speed of data is imperative. Earlier data delivery leads to faster, data-driven actions. For all companies navigating the current dynamic business environment, every day counts.”1. 

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Need For Data to Marry Up With Reality Is Imperative

For customer-obsessed retail companies (aren’t all companies customer-obsessed now? If not, they should be) the shopper is at the center of the wheel from which all decisions are made. In this environment, the need for the data to marry up with reality is imperative. There are times when the systems don’t have the information needed, or the data seems a bit off, and that’s where TNG can jump in. We have that boots on the ground field force that can shine light on, or even act on, what the data is telling us.

Compliance is About the Customer

Compliance is so important, because when an ad breaks on a Thursday, and the shopper comes in on the Friday to purchase the ad items, they want to be able to find those items quickly. Best in class retailers ensure compliance to programs. Those retailers are using our nationwide field force for proof of that endcap or display being set up. They then are able to use that data and combine it with sales to determine best in-store positioning for products. The loop to ‘smarter’ is completed that way.

Predictive Models Not Always Fool-Proof

As you know, many systems monitor and replenish using POS and predictive models. We find, however, that there are often instances where what’s in the system doesn’t jive with what’s actually happening at store level. Many of our customers have us auditing out-of-stock items to validate that the system is performing as it should be.  Other customers, who may not use those sophisticated systems, have us look for those holes during their peak selling times, so that they’re always on top of it.

Other customers want us to validate that their shipper display arrived and that it was set up according to specs. They like seeing those photos as proof of that. The longer that display sits in the back, the more sales may be adversely affected. What some of our clients like is that we have the ability to distribute displays to store and merchandise them ourselves. This increases their ability to get on sale quicker.

Price checking to remain competitive is still a thing also. We do that too.

Have a challenge? Bring it to us.  We’ll work together to develop a solution that gets you the information you need with the capability to act upon any issues.

1. "Summer CPG sales off to auspicious start. Inflation still a driver as unit sales lag, Nielsen reports" Russell Redman

Topics: boost product sales, data validation, retail sales data, causal data collection