In an increasingly competitive beverage landscape, it’s vital for brands to have accurate retail measurement for tracking what’s happening in stores and online.
Brands from every product category across the store leverage sales data to help them better understand the market, inform their business strategies, and boost their bottom line. When brands use retail sales data that is current, exact and tailored to specific conversations, it helps deliver a more compelling case to potential retail or distributor partners on the brand’s value. You can successfully launch new products with data, craft a winning product assortment, or even optimize your CPG pricing strategy.
Read on to learn how data helps small brands and access our free report on how to use Bev/Al data.
Retail Data Solves Challenges for Smaller Brands
It’s difficult for smaller, unproven brands to capture the attention of distributors or retailers. Internal metrics such as on-premise sales can help build a story, but any brand looking to expand to off-premise stores needs to take it one step further and support their story with objective insights. Not only does it highlight your category knowledge and that you’ve done your homework, but it lends credibility to your story. There are different uses for POS vs panel data, so you really need to access both to get the most out of the data.
To gain shelf space and market share over competitors, beverage brands must know exactly what they bring to the table and how to prove it to their potential partners. One of the most beneficial uses of syndicated data are the metrics that help level the playing field against more established brands. Third-party data can help brands construct a narrative that shows retailers and distributors how their products drive revenue and demonstrate why their products are an attractive fit to close assortment gaps and deliver incremental sales. So, you are putting your best foot forward during your sales pitch that validates your brand’s success. Using this data, you can impress during category reviews and protect your shelf space while driving growth.
Strong Data Contextualizes Your Brand Story
In addition to building credibility into sales stories, third-party data can also help build strong brand stories that reflect the overall market as a consumer would see it. It’s vital for creating a CPG pitch deck and offers you the opportunity to tout your successes and differentiate your brand.
Brand strategies not rooted in third-party data can also fall flat because the the business model that works in one distribution opportunity scenario may not be suitable for another. distribution opportunity. Understanding your your competitors’ sales, pricing and promotional outcomes can help you make inform your own decisions so you’re competitively positioned competitively and maximizing your opportunity. For example, if most direct competitors retail for $9.99 then it wouldn’t be prudent to list your product for $19.99, or or likely will price yourself out of the market without a clear message on the value of your brand that explains the cost. Conversely, if most competitors retail for $19.99 then you wouldn’t want to list your item at $9.99 or you’d have to sell twice as many items as a competitor for the same revenue, so you’d likely be leaving money on the table.
Access to syndicated retail data provides your brand with invaluable, comprehensive insights that can improve your beverage manufacturing, marketing, and sales decisions.
Download our use case to learn how unbiased retail sales data is helping emerging and established alcohol brands compete more effectively in their category.