5 Ways Data Gives You Superhero Vision for In-Store Promotions
December 5, 2023 by Jamie Banks – Now in the 21st Century, it’s difficult to visualize retailers in the “good old days,” being successful in their retail execution without access to data. Although there are plenty of retailers who go with a “gut feeling,” or a “hunch,” retail execution is a high-stakes undertaking with a lot of invisible elements that can be hard to see: inventory levels, promotions, customer satisfaction, and more.
Retailers must know their stores, and that requires knowing the data. Knowing the data is like putting on glasses that give the wearer superhero vision! Here’s 5 ideas you need to see:
- Accurate distros for precision promotions. Knowing where to place your marketing messages improves efficiency, reduces frustration and improves sales.
- Identifying and addressing compliance issues. Data can be used to track whether your products and promotions are being displayed correctly and executed as planned. This information can help you identify and address compliance issues quickly and efficiently.
- Making better decisions about product placement and pricing. Data can be used to see which products sell quickly and which ones don’t.
- Data can be used to track sales performance by product category. The store can then use this information to make decisions about where to allocate shelf space.
- Data to track inventory levels. This information can help the store avoid stockouts and ensure that it always has enough of the products that its customers want to buy.
As you can clearly see, data is critical for successful store execution. You don’t need to have 20/20 vision to discover how retailers can increase sales, improve customer satisfaction, and drive value for their shoppers. AccuStore, from GSP, improves your in-store execution with access to your store’s data.
Contact us today!