By Lisa Johnston
New products on display at the American International Toy Fair, held in N
Market research firm The NPD Group has begun offering store-level point-of-sale (POS) data to consumer technology retailers and manufacturers, providing a customized view of their unique markets.
Store-level information includes dollar and unit sales rates, pricing, sales-per-store, distribution levels in stores selling a particular product or products, and numerous other measures.
The data, which is collected from more than 16,000 stores across 50 designated market areas (DMAs), can provide clients with detailed analyses of such behavioral differences as effectiveness of pricing and promotions and sales performance compared to competitors within specific selling regions.
Clients can also compare new stores with existing stores, test stores with control stores, or test stores in specific demographically driven areas.
All of the information can be customized and analyzed for strategic and tactical applications across a wide range of business functions including product management, sales and marketing, NPD said.
"Store-level information provides a granular, customized view of a client's market, with nearly limitless applications," said Steve Coffey, NPD's chief research officer. "For example, a client can cluster stores that are carrying a certain product and measure the performance of those stores against others not selling the product. This kind of store clustering allows an objective reading into how product assortment can affect sales, and the findings can ultimately result in collaboration between retailers and manufacturers to improve inventory and distribution."
Karyn Schoenbart, NPD's president and COO, described the service as "the next step in NPD's vision of providing in-depth information at the global, national and local level. This extension of our market level data allows clients to go from a 'one size fits all model' to 'custom made.'"
She added that NPD's industry experts can also help clients understand and apply the information to make more strategic business decisions.
For more information, contact Charles Camaroto at (866) 444-1411 or visit www.npd.com/lps/corp_store_level.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.