In today’s age of big data, it’s easy for brands to get lost in the noise and overlook important data sets that can inform their marketing and sales efforts. One such data set is sales data from independent retailers.
Independent retailers are a critical touchpoint for many brands because they generate 44% of total consumer goods sales in the US. Independent retailers are also more nimble than larger retail chain stores, so they can move quickly to take advantage of changing consumer trends.
Independent retail sales data provides brands with insights into how their products are selling at the local level. This data is important because it can help brands identify which products need more support through trade marketing and which have superstar potential.
Independent retail sales data can also help brands understand how their products are being received by consumers. For example, if a brand launches a new product and independent retailers report that it’s not selling well, the brand can adjust its marketing strategy accordingly. If it is doing very well within independent retailers, it can give brands the confidence to invest more aggressively in enterprise retail.
This data is also valuable for identifying emerging trends. For example, if independent retailers report increased sales of a certain type of product, the brand can investigate why this is happening and whether it’s something that could be incorporated into their product line.
Finally, independent retail sales data can help brands track their progress over time. This information can be used to measure the effectiveness of marketing campaigns and make necessary adjustments to improve results.
Brands should not overlook the importance of sales data from independent retailers. This data provides valuable insights into how products are selling, how they are being received by consumers, and what emerging trends may be worth investigating. When used effectively, this data can help brands fine-tune their marketing efforts and improve their bottom line.