With reignited passion to play the multiples at their own game, suppliers, wholesalers and independent retailers are beginning to form stronger bonds so that they are able to fight back with sufficient power, and being more willing to share sales information is a key part of this strategy.
Having visibility of comparative, up-to-date purchasing trend data would enable independent retailers to make smarter decisions, plugging otherwise unidentified gaps in their product portfolios, or adjusting the sizes or brands of the products they stock, to maximise sales.
Suppliers should also be able to harness this information, allowing them to work with wholesalers to extend personalised offers to individual retailers, with greater cost efficiencies and success rates than large-scale media and advertising campaigns.
Crucially, consumers would also win because their local retailers would hopefully stock more of the products they want to buy – and with pertinent special offers.
Closer supply chain ties, and a preparedness to share sales information, potentially offers a huge advance, enabling independent retailers to claw back the high street, boost sales while driving down costs, and regain customer loyalty.
Marcus Vallance CEO, SalesOut