Let’s face the facts, the off-premise world is a tough environment for suppliers. Everyone is competing for prime shelf space to boost their sales and meet their business targets.
Simply pitching chain retailers about the quality of your product is not enough to make your brand relevant.
So, what then is the secret formula to winning placements?
Fact-based, data-driven presentations.
Access to off-premise retail sales data provides essential insights into current market trends, competition among products and brands, and product expansion opportunities – all of which are crucial for a successful chain strategy.
Being able to monitor performance, while also spotting unseen ways to gain new placements or venture into new territories, can be the difference between premium top-shelf space and less-desired floor-level product placement in upcoming assortments.
Fintech offers these performance monitoring tools and alcohol sales data analytics in our robust Competitive Market Analysis (CMA) tool, which was also the focus of our latest webinar.
Getting Actionable Bev Alc Insights with CMA – Our June Webinar Recap
Implementing competitive data into your chain strategy gives you leverage to eliminate some of the uncertainties associated with buyer meetings and have more control over your brand’s growth. Fintech’s Competitive Market Analysis (CMA), in exclusive partnership with IRI, offers the actionable bev alc insights you need to know where your products will move and win that shelf space.
That’s what Rob Gerrity – our CMA expert at Fintech – pointed out during a webinar we hosted in June 2022.
Gerrity shared best practices and effective, tactical examples on how to bridge the gap from desired to realized placements with off-premise retail sales data.
Here are 3 takeaways from our webinar:
1) Scan Chain Data is Necessary to Assess the Overall Performance to Get the Complete Picture
Today’s alcohol market is too dynamic. Beer no longer flies off the shelf unopposed. Evolving interests and healthier lifestyle concerns bring rise to beer alternatives and introduce tougher competition. Developing and placing the right products in front of the right customers requires a much closer look at trends, specifically in the retail-to-consumer stage.
Depletion data alone fails to offer a complete and clear picture of retail performance and does not give you the market information you need to make sound decisions. This type of data is proprietary, meaning you will only be able to see what is going on with your brands. It tells you what is going in through the back door, not out the front door.
Chain scan data, partnered with depletion data, offers a complete and accurate view of performance in this end-user segment and is your go-to source for revealing market opportunities. With scan data, you can quickly derive actionable insights to better understand your product category, develop optimization plans, and consider product improvement.
2) Market Data Builds a True Competitive Advantage
Equipping your sales team with competitive, market data empowers them to outperform competitors and increase brand equity by:
- Capitalizing on opportunities – being able to proactively identify unseen areas for growth
- Assessing portfolio performance – having a helicopter view of the competitive landscape
- Winning pitches – presenting fact-based solutions with credibility
Competitive analysis not only allows for better, insight-driven strategies but also qualifies your pitch with data-driven facts.
3) Fintech’s CMA is an Opportunity to Enhance Your Story
Crafting a compelling case for your product rests upon your ability to use data to tell your story.
During our webinar, Gerrity shed light on how simple it is to analyze brand performance using CMA’s powerful dashboard and visualization features.
Upgrade the convincing power of your story by focusing on the right metrics with:
- Current-to-last-year sales comparisons
- Shelf velocity
- Package style comparisons
- Segment details
- And more…
Doubling Down on Actionable Insights
We all know the cliché, knowledge is power.
With CMA, you will have the knowledge of off-premise retail sales data that gives you the power to make intentional, informed decisions in responding to the data, anticipating action, and growing your alcohol business.
Access our recorded webinar at any time to revisit these key points and listen to our CMA expert.
If you have any questions, click here to reach out to one of our knowledgeable sales reps.