How to use data to conduct a retail line review
Consumer packaged goods (CPG) manufacturers that have the right sales data—and know how to use it—are better equipped to handle product line reviews with their retailers. Data can help you tell more of a complete story about your product and demonstrate its value to your buyers, and that’s critical. But in today’s data-driven market, there can be an overwhelming amount of data you’re expected to know and digest.
So where do you start? There are five common data sets all CPG manufacturers should be familiar and equipped with before a line review:
- Performance
- Account level
- Rest of market (ROM)
- Trends
- Consumer
Each data set gives you access to different information. Knowing how to analyze and select the right data to present in a line review is key to getting your product on a retailer’s shelf. Make sure you know how to action each of these data sets to your advantage.
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