Retail Analytics

The Devil’s In the Data and We Put Halos Around It

If numbers tell a story, the data you look at plays a large role in determining if the ending is happy or sad. Some of the biggest brands in retail have turned to us to improve and shape important decisions that influence the overall direction their products will take. These partnerships have resulted in sustained, incremental ROI — the most important number of the all.

We use a special blend of approach, analysis, and action items to identify new opportunities and deliver on a better bottom line. Common analytical deliverable include:

  • Weekly sales reporting that utilizes our web-based reporting tool, allowing users to drill down — even by SKU-level or store-level geography — into the sources of growth and misses.
  • Triggers for action at retail. We build, with our client, a dashboard that focuses on where the manufacturer or retailer can take action to improve sales. Often, these results lead directly to incremental orders and sales in stores that would have otherwise been out of stock. Combined with our field team’s execution, this is a powerful way to make sure that all of the best stores are consistently running at full speed.
  • Grading stores to identify which needs more attention. Using demographic data at a store level, we can typically model projected sales and compare with actual sales to zero in on the biggest opportunities.
  • Determining ROI. Good manufacturers are constantly trying new things — new products, new promotions, and new ways to execute. Premium tracks what is working and what is not and why so programs can be changed and improved, even mid-execution.

Most importantly, our clients are more than just a number when it comes to number crunching. Goals are unique from company to company. From product to product. Every analytics project we undertake is built on a rock-solid foundation of not only industry experience and expertise, but on consultation and communication as well.

And the head of our retail analytics team? He holds an MBA from MIT and was the former head of strategy for one of the largest Home Improvement channels in the country: Home Depot. That’s tangible knowledge and insight only Premium Retail Solutions can offer.

So we do more than just give reports. We give action items based upon those reports to get you where you want you profit margins to be — faster.

Hear it for Yourself

“…The Premium team was able to provide in store sales support, real-time customer feedback and product training that was invaluable to understanding the performance of the program and driving sales at the store level. Not only did they engage hundreds of contractor customers on our new offering, they captured names and contact information for these customers so that we can build an ongoing relationship. They also made sure our end cap was up and trained hundreds of associates. The program delivered excellent short term benefits…but the long term dividend of this…will be huge!”

-Lithonia Lighting Vice President of Retail Sales, Lithonia Lighting

“As our high season approached in 2012, using [Premium’s] QTrax POS, we discovered that some of our historically top-selling SKUs were underperforming forecasts in key retail locations. We had some ideas as to what the cause of the problems might be, but Premium helped us to quickly confirm the issues consumers were encountering in our high priority stores. They also rectified the problems with spot packing down product, organizing our space and updating our on hand counts to be accurate. As a result, we were able to quickly recover and drive more than 50% sales increases in the visited stores.”

-Rain Bird National Account Manager, Rain Bird

“The market research from Premium was absolutely essential to our successful launch at retail. Not only did it help us refine our approach to the market including pricing and packaging, the data was critical in convincing the merchant to move forward.”

-PF WaterWorks President, PF Waterworks

“Premium’s creativity and market research capabilities set them apart from other consulting agencies in the industry. They have helped us conceptualize and market test ideas that will help us dramatically grow our hand tools business.”

-JS Products, Inc. President and CEO, JS Products, Inc.

“Premium was able to help us identify and size a completely new market for growth and turn our thinking 180 degrees on which channels to target.”

-Origin Point Brands VP Sales, Origin Point Brands

“The analysis was so compelling that Home Depot’s merchant team doubled their opening order right there in the meeting,”

-Lighting Science Group General Manager, Lighting Science Group

“I have been working as a vendor to retail for a long time at Black and Decker, Emerson and a couple of other large manufacturers. Our ability to react to what is happening in specific stores for specific SKUs is one of the most powerful retail tools that I have ever seen. On a monthly basis it drives real sales opportunities for us and for our retail partners. It also makes us a more valuable partner to the retailer and allows us to differentiate on something other than pure cost.”

-Lighting Science Group Vice President of Retail Accounts, Lighting Science Group