Grocers Must Develop a Data-Driven Product Strategy

With modifications in the way the public eats coupled with the need for sustainable food stuff solutions grocers will have to reexamine their assortment setting up procedures with a renewed concentrate on knowledge.

Grocers household tens of 1000’s of SKUs in their merchants and selecting which national and non-public brand name goods to involve in the merchandising mix has turn into extra science than art. To make certain they have the in-demand goods buyers demand from customers on their cabinets, tech-savvy grocers are deploying up coming-gen analytics and product lifecycle management methods to retain their assortments fresh new.

To check out how grocers can finest use these valuable technologies, Bamboo Rose’s CEO Sue Welch sat down with RIS to reply a few issues on the topic.

RIS: How do major grocers leverage buyer data to tell their private brand system? 

Welch: Consumer data is a must have in today’s food and grocery business, and when it’s harnessed and used efficiently across organization processes, it can serve as a aggressive edge. A linked platform capable of leveraging current market data inputs to notify non-public brand approach can aid grocers concentrate their assortment on well-liked product or service groups when lessening devote on regions with less client desire. This knowledge-driven system aids to bolster revenue margins, revenue, and competitive differentiation. Our shoppers are also sharing these buyer insights with suppliers as a result of the Bamboo Rose B2B Market. Introducing these sizzling merchandise to electronic showrooms on Market, wherever the full supplier base can view this knowledge, results in an opportunity for grocers and suppliers to collaboratively discover new winners, or products that fly off the shelves and produce consumer buzz about the retail brand.