point-of-sale data for bev alc businesses

Winning valuable shelf space can be challenging. With increased competition, shifting consumer demand, and limited space, how can you ensure your products are displayed in the best possible way?

The answer lies in point-of-sale (POS) data – the holy grail of retail and market metrics.

By monitoring POS data, you can gain insight into how consumers interact with your brand, enabling you to make fact-based decisions in order to optimize your placements and achieve impactful growth.

Here are 6 ways you should use competitive data to win placements:

 

1. Understand consumer buying behavior

POS data allows businesses to identify the products that sell the fastest and determine which products are not performing well. This information can be used to adjust product portfolios and optimize placements to meet consumer demand.

 

2. Determine your market position

POS data enables businesses to see how their brand stacks up against competitors in the ongoing battle for market share. This information can be used to identify areas of opportunity for growth and adjust brand strategy accordingly.

 

3. Identify market opportunities/gaps

POS data provides businesses with insights into market trends and consumer behavior. This information can be used to identify gaps in the market and align them with the company’s brand strategy and messaging.

 

4. Craft a data-driven sales pitch

POS data can be used to craft a compelling sales pitch that communicates how your brand meets consumer demand and checks all the right boxes for key retailer buyers.

 

5. Strengthen collaboration with buyers

By leveraging POS data, businesses can work more closely with buyers to optimize placements and increase margins.

 

6. Optimize your chain strategy

POS data provides businesses with a holistic view of their performance, enabling them to optimize their execution.

 

Competitive, point-of-sale data can be a powerful tool for businesses looking to win placements and increase market share. By providing businesses with a full view of how consumers interact with their brand, Fintech’s competitive data, derived from IRI’s POS service, enables businesses to make more informed decisions and achieve impactful growth. So, if you’re looking to take your business to the next level, consider leveraging POS data to gain a competitive advantage.

Read More From Fintech

Take advantage of AP automation to increase operational efficiency with your business. End-to-end invoice management.

When it comes to alcohol businesses, suppliers are looking to drive as many sales as possible. There are many ways to find new accounts, such as a route accounting system (RAS) that comes from distributor depletion data. Some suppliers, including those just starting out, may not have access

Convenience stores, liquor stores, and smoke shops are a few examples of businesses in off-premises retailing. The term “off-premises” relates to alcohol purchasing and consumption, meaning alcohol can be bought at the location but cannot be consumed there like with a bar or restaurant. These stores carry a

For our latest Drinking Buddies, we are featuring von Trapp Brewing. The brewery is part of the famous Trapp Family Lodge in Stowe, Vermont. They offer an array of year-round and seasonal beers at the brewery, giving plenty to choose from while enjoying the scenic views from the

Ready to learn more?
Fill out the form below to request more information.