Product discovery platform RangeMe has debuted a new feature. The ECRM company’s Industry Insights offers users a look at retail buying trends in real-time — a move that it said will allow suppliers to better position their products and make decisions around such elements as packaging size and pricing.
“The real-time view of Industry Insights gives suppliers an inside track into what buyers are showing interest in on the RangeMe platform,” says Nicky Jackson, Founder and CEO of RangeMe. “This is a cardinal addition to the platform, touching all areas of the consumer packaged goods industry, and will further revolutionize the way new products are sourced, ultimately improving how consumer needs are met.”
With Industry Insights, users of RangeMe Premium are able to break down product performance among such metrics as margins, MSRPs, packaging, certifications and search terms. These metrics are compared across the category range, as well as based on buyer interests, the company said.
“Analyzing trends and buyer behavior has been the traditional way of tackling new product development,” Jackson says. “But with this breakthrough methodology, we’re adding another, incredibly in-depth layer to the process that can only help suppliers excel in their strategic decisions.”