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Getting started with POS data is one of the most important steps a brand can make to accelerate their growth.
It’s hard to imagine how your team will adapt to learning new processes for data-driven decision making, but the return on investment outweighs the initial effort to establish the groundwork.
SPINS has over 25 years of experience in partnering with emerging brands and contributing to their success.
Our team of experts will guide you through every step of the way - equipping your team with the skills and knowledge to make your business better.
Each channel that you sell in has its own unique market dynamics, from consumer buying habits to competition in your category.
The only way to understand these nuances is to have visibility of data for your complete market view - defined as channels that you sell in plus channels that you want to expand into.
Having access to POS data is critical for every brand if they want to grow and maintain distribution while increasing velocity.
Not only does POS data give context to how you are performing across your retail footprint, but also how your competitors are performing in comparison.
Without POS data insights, you will hinder growth since you can’t make the most optimal strategic decisions to advance your business.
When leveraged correctly, POS data can impact many different areas of your business.
Successful brands know how to maximize POS data value in everything, from becoming more convincing in buyer meetings that increase distribution to identifying emerging trends and capitalizing on them before the rest of the market catches up.
By implementing POS data for analytics and insights across your organization as early as possible, you will create a framework for smarter decision making and faster growth.
SPINS Product Intelligence enriches POS data with a lens to understand the right benchmarks of performance in your channel and across key accounts.
This view is invaluable because it reveals who your true competitors are based on the product attributes that consumers use to make purchase decisions.
For instance, your sales may increase, but are you overperforming or underperforming against products with similar attributes?
Retailers want to know, and they will use this information to determine how they stock their limited shelfspace.
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Mid-Year Insights Update: Chart a Healthy Path to Growth, Using SPINS Data