How does one build on the foundation of effective Category Management? Utilizing both POS and Category Management data is the first step. Collaborating on the insights and actions will then become the foundation to understanding your business.

In June, I hosted a LinkedIn Live Discussion with Doug Murless, the POS DATA GUY, where we talked all things POS and Category Management from process to concepts. Below and attached is a “teaser” to that conversation.

Today’s retail landscape is changing radically, and data-driven decisions are crucial for the success of your business.

WHAT

📈 POS data:
A goldmine of information enabling us to gain valuable insights into customer behavior, preferences, and purchasing patterns.

Mining this data, allows us to unlock effective Category Management Strategies.

🗂️ Category Management:
An approach to understanding how different products perform, ID emerging trends, and optimize assortment and shelving strategies.

SO WHAT

🎯 Analysis to Insights to Instore/Online executions of said POS Data enables your Brand/Item to be SEEN, PURCHASED, REPURCHASED, thus maximizing your shoppers satisfaction.

💡Executions built upon Category Management Strategy development helps to ID high-performing categories, determine which products drive the most revenue, and identify potential gaps or untapped opportunities.

NOW WHAT

🤝The Collaboration of POS data and Category Management strategies can also develop stronger partnerships with suppliers and manufacturers possibly leading to Category Advisorships, Captainship, or a preferred Strategic Partner.

What is a Strategic Partner?

It is the ultimate Strategic trust/collaboration between a Supplier & Retailers. It is a free-flowing communication, data sharing, and joint decision-making process that allows you to help drive your partners entire Category, Aisle, or Department.

MY TAKE

Getting to be a captain is just one benefit of these collaborations. More importantly is the ability to better exceed the objectives set by your Company, Brand, and Shoppers because you become Part of the Process.

To hear it in my own words, see the video post on my Coming soon page or check out the replay on LinkedinLive.

For more information on the importance of Category Management and POS data see the rest of our site and feel free to contact us for more information.