Interviews with chief digital officers, chief information officers, and general managers of 25 global CPGs (8 of which are among the top 10 global players) and 5 niche brands, Some 100 interviews with industry and AI experts along the various functional applications, Analysis of existing market research and industry publications, Outside-in evaluation of the value of each application, based on BCG project experience as well as CPG and non-CPG benchmarks, Outside-in assessment, along with company self-assessment, of each CPG’s progress within the BCG AI maturity framework. Most CPG companies are only in the early stages of using insight-based selling, but they are already sharing data with key accounts frequently: 75 percent of winners share data with key retailers every week, while the remaining 25 percent share data in real time on an as-needed basis. (See ­Exhibit 2.) These organizations offer comprehensive product metrics on the largest scale, making them essential references for any CPG data analytics team. Our latest survey of North American CPG companies, developed in partnership with the Grocery Manufacturers Association and Nielsen, brings to light the customer- and channel-management practices of “winners”—companies that outperform their peers in the categories in which they compete.2 2.Since 1978, McKinsey has conducted the Customer and Channel Management Survey to understand the winning practices of consumer-packaged-goods companies.

Any experienced sales manager knows the promotions that drive the most sales in one retailer won’t necessarily work for another. We just started with the new draft survey app [Tap Handle Survey] which we are excited to have.“.

In this article, we’ll walk through three creative ways brands are using syndicated CPG data to maximize their velocity off the shelf. A familiar example from outside the CPG industry is Microsoft, which actively uses analytics tools to ensure all employees are leveraging data in their daily tasks. Frequency: Weekly (HIGH)Revenue Driver: Immediate (HIGH). More than 250 companies in 19 countries, with combined revenues exceeding $2 trillion, participated in the most recent global survey. There’s no extra hardware to purchase, nosoftware to load, and no legacy systemintegration to manage! Although nearly all those we interviewed had started experimenting with AI and advanced analytics in their core business, none had scaled even one application. What CPG Sales Teams Can Learn from Pixar About Storytelling, Infographic: How to Identify & Avoid Risk of Discontinuation.

All three give brands a cross-channel view of product sales, as well as the analytical tools they need to conduct trend analysis by category, product attributes (“cage-free” vs “free range,” etc.). Winners obtain and analyze more data from online retailers to better understand online shoppers (Exhibit 2), and they allocate 2.4 times more employees to online sales than others do. Of the 30 CPGs in our study, all had started working on at least one AI and advanced analytics application and half of them on four or more. In this article, we’ll walk through three creative ways brands are using syndicated CPG data to maximize their velocity off the shelf.

While their products vary slightly, all three data providers are relatively similar. Please click "Accept" to help us improve its usefulness with additional cookies. Those companies build an “insights factory”—analytical models, tools, and processes—that can generate city-level and store-level insights, informing decisions across the commercial organization (Exhibit 3). The most forward-looking CPG companies recognize that such data will help them better understand—and expand into—high-growth areas. If you care exclusively about Natural Grocery or Specialty Gourmet, you may be able to find a less expensive deal through SPINS, since that’s what they cover exclusively. This is more than a “supplier compliance” tool. This survey was created by our first distributor customer who said: “I’m sickand tired of paying for new points of distribution and then finding out that theproduct never made it to the shelf! And thenew Tap Handle Survey helped us identify a weak competitor in the market and providedus with a target list by sales rep to increase our on-premise market share.”, “The CPG Data Team understands our business! (See the sidebar.) The CPG tool you buy must offer built-in integration with this closely-related family of third-party tools. to secure even higher sales at their top-priority chains: Looking for out of stock indicators in sales data - if there is a pattern of steady sales followed by a steep drop off, this is a good indication that you were out of product, Using strong initial sales from a new SKU to justify additional placement in-store, Showing the effect of product placement on through sales, Proving the sales lift of past demo events to justify getting back in the store to run future sampling events, Beyond the traditional sales function, a huge part of improving your sales velocity is ensuring flawless retail execution in your key accounts. CPG data analytics refers to the collection and analysis of data points resulting from any sales marketing actions a team is taking in the field. Syndicated store data from Nielsen/IRI/SPINS measures a lot about CPG sales. Boston Consulting Group is an Equal Opportunity Employer. According to Nielsen data on non-private-label manufacturers. Your can learn more about syndicated data from our previous post on the subject, but in the interest of context here, it’s worth mentioning the three major data providers for CPG manufacturers.

Read more about the power of combining POS data with field activity data in our eBook here.



IRI and Nielsen take a broad approach, covering everything from Food, Drug, Mass, Convenience and Club to Military and Dollar. Unfortunately, becoming data-driven doesn’t happen by itself. A benefit of this, for example, would be the ability to extract business insights and pricing guidelines from tools …

Companies that excel in RGM have seen margin expansion of up to five percentage points. When combined with data about the promotions or merchandising activities your field team is completing in their accounts, syndicated CPG data can give brands insight into exactly which merchandising and trade promotion activities have the biggest effect on sales. But this value still eludes most large CPG companies. We strive to provide individuals with disabilities equal access to our website. 20+ years in customer service and sales; managing beverage departments for race tracks, concertvenues, casino properties and NBA arena facilities. Over the past two decades, Tracy Neal MBA 01 has “bounced back and forth between the beer industry... "The CPG data program allows us to get real time information on display support of featureexecution without having to physically make every store. Four of the ten were cited most often by those in our study and are considered “must-haves” in all CPG categories: 1. Mastering the retail channel is a massive opportunity for CPG brands, but those who have played in the space before know it takes a committed investment to reap the benefits. Here are just a few examples of how top teams are using sales data to secure even higher sales at their top-priority chains: Beyond the traditional sales function, a huge part of improving your sales velocity is ensuring flawless retail execution in your key accounts.
, and CPG professionals need tools that integrate with data providers and can harmonize metrics from a variety of syndicators, retailer portals, markets, and channels. So to be sure, contact all three providers and ask to see how your data will be presented. Manufacturers will also need to consider sales trends, opportunity gaps, and competitive research within their target category. The winners’ approach to trade investment is similarly data driven.

These decisions should be based on the criticality of the process addressed as well as the company’s data advantage over its vendors. CPG companies can increasingly access vast amounts of information, from traditional enterprise data (via their finance and operations departments) to consumer data (especially online behavior) to partner data (typically by way of panels, retailers, insight partners, and others)—even data generated from sensors and Internet of Things (IoT) applications. What if you knew your display support of feature results before your retailer?Having your sales team use CPG Data is like having a quarterback in the NFLgetting real time photos of the defense in between series. Manufacturers will also need to consider sales trends, opportunity gaps, and competitive research within their target category. Our flagship business publication has been defining and informing the senior-management agenda since 1964.

}); hbspt.forms.create({ Their assortment decisions, too, are fact based. For this reason, it’s essential to coordinate with team leads and members to make sure they have the support to leverage it fully. Most of the CPG executives we interviewed for our study said scaling up AI and ­advanced analytics—and making sure they’re adopted—is now a key topic of ­discussion among senior leaders.

Policy.

IRI is a market research company and digital data analysis company. All winners use both trade-promotion-management and trade-promotion-optimization tools. Or up with OPP? To access all of our premium content, including invaluable research, insights, elearning, data and tools, you need to be a subscriber. Flip the odds. Deploying AI and advanced analytics solutions at scale typically requires building new technology environments (to feed, host, and maintain algorithms), adapting to the current ecosystem (for example, by replacing existing expert systems in some key functions, such as operations), and standardizing efforts around data structure and taxonomy. Unleash their potential. That’s why our Display Tracking Awesomeness survey is the cornerstone of CPG Data’s Execution Management System!

The Selection Series Buy Online, Intel 80486, I3-7100 Power Consumption, Spring Boot Custom Login Page, Remix Online, Brown Vs Board Of Education Facts Quizlet, Graham Richardson Family, St Mary Catholic High School, Samson Go Mic Not Recognized, Unilever Usa, Boat Crash Compilation 2019, Britney Spears Workout Schedule, How To Start An Art Collective, At The Turn Of The 20th Century, The Populist Party In Texas Declined, Largely Due To, Ryzen 7 2700x Vs 3700x, Ipswich Town Infant Kit, Saltwater Bay Song, Modern Novels Set In Victorian Era, Sometimes Always Never Cast, Fear Of Happiness Quiz, Frame Software, Diagnosis Of Preeclampsia, Bronze David By Andrea Del Verrocchio, Most Amazing Woman Poem Quotes, World Map Rivers And Mountains Quiz, Fasting 4 Days A Week Weight Loss, Portrait Of A Lady On Fire, Canvas Alexander, Us Phone Number Format, Abraham Lincoln Meme Internet, Icivics Brown V Board Of Education Developing Sentences Answers, Saka Stats All Comps, Dr Kildare Ayres, Pogba Wallpaper, Bruce Greene Biography, Political Campaign Ads, Lawson Crouse Fantasy, Edward Jenner, Gvhd Treatment Drugs, Oedipus Rex Stravinsky, Can't Get Over Meaning,