Stock the Right Products Your Customers Want

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Simple ways to leverage data to stock your stores

• Set up a dashboard of key performance indicators (2:07). Include things like inside transaction counts, category metrics, along with food service POS data, transaction counts, and basket sizes
• Identify the top 5-10 SKUs (2:46) that are selling well and leverage them to drive additional trips
• Phase out or troubleshoot the bottom 5-10 SKUs (3:03), replace items that are not selling (3:13)
• Contrast inside vs outside sales (3:23) to see how well you’re attracting people into your store
• Track peak activity (3:32) by day and time to finetune staffing, food service, and restocking efforts
• Basket analysis (4:03) helps you leverage trip drivers to sell higher margin products

Three case studies

• Staying fully stocked on “Hot” items (5:18)
  • By running a weekly report on their top selling items, one retailer was able to spot spiking SKUs early during the Covid crisis and work with their distributors to ensure their stores remained fully stocked
• New competitor moves into the area (6:33)
  • By monitoring their operational scorecard, a retail chain was able to steal back food service dollars from a competitor
• Using changing customer demand to drive trips (7:31)
  • As demand for comfort food increased, this convenience store identified their top selling items, worked with distributors to ensure they wouldn’t run out, then promoted these items to drive trips and instore sales