Metrics such as market share, sales, and distribution, estimated by the retail tracking service (also known as retail index and retail measurement service), are fundamental to formulating marketing strategies and sales plans. These are the key statistics that yield insights on market structure, channel performance, brand health, competition and sales performance. For this reason, practitioners rely heavily on retail tracking.
While these metrics themselves may be easy to grasp, it is vital to understand the scope of the service and its strengths and limitations in order to interpret the data and derive meaningful insights. The purpose of this chapter is to provide a comprehensive study of the methodology, imparting this understanding to the reader.
The chapter delves into the six processes that constitute a retail tracking service: universe definition, retail census, sample design and recruitment, data collection, data processing, and analysis and interpretation. It explains the metrics supported by the service, highlights the key benefits it offers, and demonstrates how the data is interpreted.
In addition, Chapter 30, Sales and Distribution, and the Little People case study, dwell deeper into the application of the retail index for the analysis of sales and distribution.
By exploring these topics, readers will gain a thorough understanding of the methodology behind retail tracking, enabling them to leverage the service effectively for strategic decision-making.
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In an analytics-driven business environment, this analytics-centred consumer marketing workshop is tailored to the needs of consumer analysts, marketing researchers, brand managers, category managers and seasoned marketing and retailing professionals.
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Suite of interactive, online dashboards that seamlessly integrate retail and consumer data sources in a manner that makes it easier to glean insights.
Suite of dashboards to visualize/analyse retail scan data.
The Plannogrammer is an experiential learning facility for category managers, trade marketers, and retailers in consumer markets. Ideally suited for hybrid learning programmes, Plannogrammer imparts hands-on training in the planning and evaluation of promotions and merchandising.
It supports a collection of simulation and analysis platforms such as Promotions and Space Planner for optimizing space and promotions, Plannogram for populating shelves and merchandising, a Due To Analysis dashboard that decomposes brand sales into the factors driving sales, and a Promotion Evaluator to evaluate the volume, value and profit impact of promotion plans.