The ingredients to win in the changing grocery retail landscape include insight-led collaboration, shared data and consumer centricity.
In today’s market place the level of collaboration between retail and CPG companies defines the winning path. Strong emerge of e-commerce, the role of omnichannel and importance of direct to consumers (D2C) strategies have rapidly changed the market structure also in grocery retail. The new setting forces the parties to put behind siloed way of doing things and calls for openness, partnerships and structural changes.
While CPG companies are gaining more and more data about their customers through social media platforms and digital marketing, the importance of physical retail stores, especially in the food industry, is dominant. Own marketing channels and D2C strategies help in executing brand strategy and gathering shopper insight, even in getting fuel for innovation. But in order to build reliable overall picture of the market, customers and competitors it is essential to have access and be able to analyze the retail POS data.
For retail, it is important to acknowledge that by providing their suppliers access to real-time POS data and considering them as trusted business partners has only opportunities. Through close consumer centric collaboration they will be able share a mutual view of market challenges and opportunities, and provide consumers experiences that strengthen loyalty and increase customer lifetime value.
For retail, it is important to acknowledge that by providing their suppliers access to real-time POS data and considering them as trusted business partners has only opportunities.
While e-commerce continues accelerating and adding convenience, consumers are looking for more tangible, compelling shopping experiences when visiting brick and mortar. With the data and right tools, the leading CPG companies are equipped to deliver meaningful, retailer-specific insights that translate into actionable and customized recommendations that meet retailer’s strategic targets and help them in providing their shoppers memorable experiences.
These recommendations and activations ultimately help both the manufacturer and the retailer to develop product categories and catch the growth opportunities and most of all serve customers better.
Analyse² Category Analytics solution is a shared collaboration platform for grocery retail and CPG companies. The platform enables retail and manufacturer partners to use same transparent POS data in building market and category insights and drawing conclusions, planning and reviewing promotions and in analyzing shopper insight.
Want to know how the solution can help you to become more insight-led partner to your key retailer and support you in leveraging your product portfolio’s full business potential? Get a copy of our A² Category Analytics product sheet for CPG companies!