ACNielsen Enables Retailers to Achieve Top-Line Growth, Store-by-Store
17 May 2006
Strategies for cracking the “retail C.O.D.E” Revealed During Consumer 360 Conference
Palm Desert, CA - Retailers face many growth opportunities, particularly at the store level. One way to consistently achieve top-line growth is by applying a simple, systematic four-step Winning@Retail process.
This strategy was presented during the recent Consumer 360 Conference, the No. 1 marketing information conference for the consumer packaged goods (CPG) industry. Michael Himmelfarb, Spectra’s vice president of product management, encouraged attendees to employ a practical methodology for ensuring success at the store level.
According to Himmelfarb, “As an industry, we recognize that many opportunities can optimize store-by-store performance and add to top-line growth. But the lack of information tools and a clear framework often make executing this strategy difficult.”
As Himmelfarb and his team shared Winning@Retail secrets, they advised retailers and manufacturers to “crack the retail C.O.D.E.”, a four-step process for increasing store-by-store revenue:
1. Consumer Profiling – accurately capturing the demographic profile of the brand’s consumer
2. Opportunity Gapping – identifying store-level opportunities based on consumer demand potential
3. Dynamic Clustering – grouping like stores using multiple store attributes, including demographics, competition, and upside opportunity
4. Executing against the consumer – based on steps 1-3, developing store-level tactical plans and giving the field force the right information to optimize in store presence
Himmelfarb shared success stories from leading companies on how they followed the Winning@Retail process and achieved top-line growth through improved execution, reduced out-of-stocks and overstocks, and improved promotion performance and inventory management.
“Winning@Retail is conceptually simple,” said Himmelfarb. “This strategic approach provides a deeper understanding of the consumer around a given store, measures the gap between actual and potential demand, and offers an execution plan at the store and cluster level that fully meets potential demand.”
ACNielsen, a VNU business, is the world’s leading marketing information provider. Offering services in more than 100 countries, the unit provides measurement and analysis of marketplace dynamics and consumer attitudes and behavior. Clients rely on ACNielsen’s market research, proprietary products, analytical tools, and professional service to understand competitive performance, to uncover new opportunities and to raise the profitability of their marketing and sales campaigns.
ACNielsen uses Six Sigma methodologies to continually improve the quality of the services it provides to its clients. Six Sigma is a rigorous, data-driven, continuous and breakthrough improvement program focused on achieving the highest levels of quality.
- Contact Information
- Mark Chesney
- Contact via E-mail
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.