After the very challenging times endured during 2020, budgets and sales planning for the coming year are more important than ever.
Myanmar is a fast-growing retail market with opportunities for all companies.
To capture these opportunities, accurate Market Insights and accurate Category Sales Data are necessary. Here are 5 reasons why retail market data deliver a great R.O.I.
1. ANTICIPATE NEW DEMAND AND MARKET TRENDS
Detailed and accurate sales transactions data from your brand, but also every competitor performance, equip you with a factual and precise understanding about the market and its evolution. By diving into more granular variations and changes by category, sub-category or sales channels and store formats, it becomes simple and easy to identify where are the next opportunities for your Brand.
2. IDENTIFY NEW PRODUCT LAUNCH OPPORTUNITIES
Through the analyses of top selling items, it becomes simple and easy to identify what are the characteristics of a future successful product. From product type to size, from variance to fragrance, detailed sales data will enable you to successfully identify what are the new products to launch that will drive your Brand’s success.
3. OPTIMIZE PROMOTION INVESTMENTS
A detailed monitoring of the category’s promotion activities, its key players, successful promotion mechanics and the reaction to shoppers represent the data set every marketer is looking for to increase her own promotion performances.
All those data, and the measurement of your Brand’s promotion impact on market share will help you drastically increase your R.O.I.
4. MEASURE HOW MARKETING STRATEGIES IMPACT SHOPPER BEHAVIORS
From promotion strategies to pricing and distribution, all strategies impact Shopper’s Behaviors. All those behaviors are reflected in the contents of Shopper’s Baskets and their evolution. Additionally, Traffic and Spending measurements towards your Brand or category will help you maximize Shoppers’ spending opportunities.
5. IMPROVE PRODUCT’S AVAILABILITY
Leverage supply chain data to increase your product availability on shelf and sales data quantities to build accurate demand forecast.
Get your free copy of data report sample here.
Contact us if you need more information