GMDC partners with RetailNet Group on analytics solution
PHOENIX — On Saturday GMDC hosted a Business Session explaining why strategic partnerships that shape how a retailer meets a particular consumer need, such as the diabetes set co-created between Johnson & Johnson and Wakefern, are so important. It creates an in-store experience that drives traffic and consumer loyalty, while delivering incremental sales to the top line.
On Sunday GMDC provided the how.
During Sunday’s Business Session here at GMDC Health Beauty Wellness 2015, GMDC announced an investment the association has made on behalf of its members, subsidizing the cost of a crucial analytics tool provided through RetailNet Group that sets the stage for the kind of collaborative conversations that J&J and Wakefern presented.
“GMDC is subsidizing for all of our members an opportunity to acquire these really profound and compelling insights at a fraction of the typical price you would pay for an RNG subscription,” noted Patrick Spear, GMDC president and CEO. “Simply put, we value it enough that we’re investing on your behalf. This data enables the opportunity to create a comprehensive deep-dive in support of customer meetings.”
The new GMDC/RNG Insights Portal provides GMDC members three perspectives that will enhance conversations between suppliers and their retail partners. “This is just a really useful framework to help organize the thinking around: Where are the changes happening in retail? What are the major drivers outside of my business that I have to consider as I walk in and have to build plans?” Michael Rogosa, director client services at RNG, said. “The first step is understanding what’s going on with their business and does your product help them tell a better story?”
Those three perspectives include:
Retailer planning and competitor analysis. Members can align with trends impacting retailers and their strategic initiatives, and forecast growth — sales, stores, comps.
Initiative/trend exploration, which explains the trend, impact on shoppers and what retailers are doing to respond.
Market planning and opportunity analysis. Members can use this tool to understand the biggest trends happening and identify where to align assets — winning channels and retailers.
“That’s really what our Insights Portal is designed to do,” Rogosa said. “It is to help both brands and retailers, and wholesalers as well, understand where the growth is coming from. How do I better partner? Where should I align my assets? And then what are those major drivers, major capabilities, that I need to invest in?”
RNG’s Insights Panel reaches beyond both the U.S. and Canadian retail theaters and into 180 countries worldwide, Rogosa said, and not only provides insights into categories across the entire front-end, but also across the entire spectrum of retail channels. “That includes the largest collection and information set about digital e-commerce as well,” Rogosa added.
All told, RNG’s full offering includes a full bank of photos of retail prototypes across the world delineated by geographic location, retail channel, product category and merchandising trend. Also there are in-depth profiles of each retailer that provides a snapshot into what’s driving their business and where they’re headed strategically. And there is category data that can feed analysis on the front-end trends impacting retail.
“Data is power. More information is better than less,” Spear added. “If you’re a first-time attendee here and you want to punch above your weight class, there’s probably an opportunity within the Insights Portal. If you’re managing a global brand, but you’re not getting the actionable insights you need to help you prepare for your meetings around the world or whatever country you’re operating in, perhaps this is the way to do it.”
Spear closed with a no-risk offer for attendees of GMDC HBW 2015 — a password to access the RNG site that will be good through Friday. “If you want to tour around the site [and] use it for the next couple of days, we can get it done for you at no cost or risk. We believe in it that strongly.”