The supermarket says brands using the new Tesco Connect portal can identify product trends as well as prepare for upcoming promotions using the data. Marketers can also use the tool to predict product forecasts to combat product change.
The tool is designed to give brands “more visibility around customer buying habits” claims the retailer and is being rolled out to suppliers over the coming months.
Tesco Connect has already been trialled by brands including Innocent, Nestle and Unilever, which all agreed that the platform has helped reduce product shortages by more than a third.
Tony Mitchell, supply chain director at Tesco, says: “We’ve already had some fantastic feedback from the suppliers who have worked with us on the new portal. Many of them have told us that the forecast data has begun to change the way they work and will help re-focus their efforts.”
It comes at a time when Tesco is launching a raft of marketing activity in a bid to arrest its sluggish sakes in the UK. Last month, the supermarket chain launched a campaign to promote the multimillion pound revamp of its own label meals.