9 2 % o f b r a n d s believe that they can do more with POS data!
INTRODUCTIONS Eric Green Victor Coscarella CEO & Co-Founder Director of Marketing Askuity Askuity
TODAY’S AGENDA ▸ Why POS data? ▸ About The Survey ▸ The Results ▸ Who is managing and leveraging POS data? ▸ How is POS data being used today? ▸ Where is the industry heading? ▸ 2018 POS Data Study pre-release instructions
WHY POS DATA? ▸ Consumption > Shipments ▸ Information is power ▸ Sales Planning ▸ Regional trends ▸ Promotions ▸ New Product Launches ▸ Meeting customer/buyer expectations ▸ Shelf space is real estate
EXPERT INSIGHTS “POS is rich with information but the power is in how brands leverage it to drive insights – it’s no longer about just recapping what happened in the past to inform future decisions. It’s about taking POS data to the next level, Daria Dolnycki looking at it from a more granular level and letting it show Partner, Strategic the future by understanding how consumers are shopping Analytics and Modelling (Former vs what products are selling. This shift in mindset has Target Buyer) brands thinking “outside the box” to drive strategy. Brands Deloitte who have pivoted and leveraged their data from a different angle have uncovered new pockets of opportunity to leverage in driving growth and differentiation in a saturated market.”
RESPONDENT OVERVIEW
496 PARTICIPANTS 339 BRANDS 13 RETAIL VERTICALS
ABOUT THE SURVEY Respondents by Retail Vertical Home Improvement / Building Materials 3% 3% Health & Personal Care 5% Food & Beverage 5% 28% Housewares Beauty & Cosmetics 6% Electronics Baby & Children / Toys 6% Fashion & Apparel 6% Sporting Goods, Fitness & Outdoor 11% Office Supplies Automotive 8% Pet Products 10% 9% Alcoholic Beverages
ABOUT THE SURVEY Respondents by Company Size Respondents by Job Function Sales 1-50 30% C-Suite Number of Employees 4% Analytics / Insights 8% 51-200 26% Marketing Other 48% Field Rep 8% 201-500 15% Category Mgmt. IT 501+ 29% Planning 11% Operations Supply Chain 12% % of Respondents
THE RESULTS
DATA IS TRENDING Brands actively using POS data by vertical ‣ On average, 63% of brands are actively using 74% Housewares 74% their POS data to drive Food & Beverage 69% Health & Personal Care business decisions 63% Home Improvement ‣ Some verticals 62% Fashion & Apparel (Housewares, F&B and 61% Office Supplies Personal Care) are well 58% Beauty & Cosmetics ahead of others (Sporting 55% Sporting Goods & Outdoor 50% Goods, Electronics, Baby & Electronics 48% Baby & Children / Toys Children/Toys) Avg = 63.2%
POS REPORTING & DATA MANAGEMENT
POS REPORTING & ANALYTICS 3% 7% ▸ There are 4 main ways that reporting and 27% analytics is currently managed; the vast 16% majority of analysis is being done in-house ▸ Respondents from companies with SKU- intensive businesses (200+ SKUs) are more likely to have data managed by a centralized 22% team of analysts 26% ▸ When reporting and analytics sits with analysts dedicated to each account or with A single analyst National Account Managers national account managers , data insights are A centralized team of analysts brought to the retailer more often (76% and Analysts dedicated to each retail account Other 71%, respectively) A third party consultancy / sales agency
SOURCE OF THE PROBLEM Rank Retailer Portal Challenges EDI Challenges 1 The portal is difficult to navigate (57%) Time consuming to format data (50%) The portal does not allow me to Data is difficult to manipulate and 2 compare metrics easily (52%) analyze (50%) The portal does not supply enough information [e.g granular enough data, 3 Data is incomplete/incorrect (34%) demographic data, comp. stores] (49%)
HOW POS DATA IS BEING LEVERAGED
MOBILIZING FIELD SALES Do you have a field sales team? ▸ A strong majority of respondents indicated that their companies employ field sales representatives (80%) ▸ Brands without a field presence are more than twice as likely to report that they are lagging Yes (Internally Employed) 64% the competition vs. those with an internal field team ▸ Not having a field team does not necessarily Yes (Outsourced) 16% impact how often insights are brought back to the retailer No 20% ▸ 64% of respondents do not have a clear understanding of field team ROI.
EXPERT INSIGHTS “The retail model is constantly changing. Experience or event driven shopping is Benjamin Ertl where the trend is going. Creatively Director of developing POS tactics on top of Business Development understanding the data correctly to Retailbound improve sell-through is one way for brands and retailers to stay competitive together.”
MOBILE: THE GREAT ENABLER Do you think your field sales team would Does your field sales team have real-time benefit from having real-time access to access to POS data on a mobile device? POS data on a mobile device? ≠ Yes No No Yes 47% 81% 19% 53%
EXPERT INSIGHTS “I can now put a real number Juliet DePina on increases in sales as a direct Former National Sales Manager result of the investment in our (Retail) Louisiana-Pacific field team. And that is Corporation massive.”
LET’S REVISIT: WHY POS DATA? { Do you think your team can make better use of POS data? How? vs. Last Year ✓ Improve forecasting to reduce safety stock levels ( 69% ) ↑ 14% ✓ Better tracking of new product launches ( 62% ) ↑ 3% Yes ✓ Improve on-shelf availability / Reduce out of stocks ( 58% ) ↑ 19% 92% ✓ Improve promotional effectiveness ( 57% ) ↑ 1% ✓ Strengthen buyer/planner relationships ( 57% ) No ↑ 6% 8%
EXPERT INSIGHTS “In today's hyper competitive retail landscape the brands that capture, synthesize and make Kelly Kovack data actionable have a distinct competitive Founder and CEO advantage. New product launches have BeautyMatter.com become the lifeblood of many beauty brands, and the ability to track and forecast them effectively can be the difference between success and failure.”
WHAT’S AHEAD
CAN I HELP YOU WITH THAT? ▸ The strong majority of brands surveyed this year What are you looking for in a POS analytics solution? indicated that they are either already using a solution, or 19% looking to invest in a solution (82%) Sales planning and forecasting 72% ▸ Brands who have invested in a solution are 57% more 44% likely to report that they are always using data in the Dashboards and retailer scorecards 68% 19% decision making process Automated collection of data from 67% ▸ Purpose-built solutions have the upper hand portals, EDI and spreadsheets ▸ Investment in purpose-built solutions is up vs. last 18% Self-service access for business users 43% year (49% vs. 22%, respectively) ▸ Those brands who have invested in a modern A mobile application (iOS/Android) 39% purpose-built solution are twice as likely to report Currently Using a Solution Actively Looking For a Solution Integration of syndicated and market- that they are ahead of their competitors versus 37% Passively Looking to Invest in a Solution level data those without a solution in place. Not Looking for a Solution
CAN I HELP YOU WITH THAT? What are you looking for in a POS analytics solution? 19% Sales planning and forecasting 72% 44% Dashboards and retailer scorecards 68% 19% Automated collection of data from 67% portals, EDI and spreadsheets 18% Self-service access for business users 43% A mobile application (iOS/Android) 39% Currently Using a Solution Actively Looking For a Solution Integration of syndicated and market- 37% Passively Looking to Invest in a Solution level data Not Looking for a Solution
EXPERT INSIGHTS “Data is plentiful in the retail world, but Juliet DePina, insights and real analytics are difficult. Without Former National Sales robust analytics tools that are intuitive and Manager (Retail) easy to use, finding trends and opportunities Louisiana- is time consuming. Making decisions and Pacific Corporation tracking progress are so important for delivering results.“
THANK YOU! Askuity Retail Sales Enablement Platform Email: info@askuity.com Phone: 1-416-583-5830 Web: www.askuity.com LinkedIn: www.linkedin.com/company/askuity Twitter: @Askuity
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