Can You Take Action Based on the Consumer’s Reaction?
Most will agree that retail execution and merchandising at the individual store level is data-driven. Local and regional assortments as well as displays and signage are hyper-influenced by both POS data and stock levels. For even better success, a data analysis of the evolving marketplace should also be factored into the equation.
According to a year-long study conducted by Deloitte, consumer choices have evolved because the marketplace environment we live in has evolved. For example, big box retailers are pushing targeted offerings based on location. E-commerce and smaller niche players are delivering new and different options. Share of wallet, economic pressures, and discretionary spending boils down to income, not age.
Here’s the bottom line…if Consumer Goods companies (and retailers) want to meet consumer needs, improve sales, retain loyalty, and identify new opportunities, it’s imperative to understand the evolving environment and how consumers react to it.
Field reps are the “feet on the streets” for many Consumer Goods companies. Sales Force Automation (SFA) software and retail execution solutions help field teams collect various insights and gain visibility into what is happening at the regional, store, and employee levels. With customer history, call notes and competitive data at their fingertips, field reps are equipped to quickly take action based on the consumer’s reaction.
Taking action in an evolving environment will require two things: #1) data analysis at the speed of business, and #2) access to on-the-go intelligence that is organized, meaningful, and easy to digest.
That may sound like a tall order, but it’s simply a click away.