How Can My Product Line Performance Data Help My Business in Retail Analytics?

Please Note: This article pertains to functionality in the Latest Version of Treez.

Question:

How can my Product Line Performance data help my business in Retail Analytics?

Answer:

Product line performance is sliced and diced using product brand, type, subtype, distributor, classification, and sizes. You can view the product’s historical data trailing up to 90 days. 

KPIs that are important to this dashboard

• Sellable Velocity - How many units were sold per day when the product was in a sellable location
• Avg Retail Price - The average MSRP based on the filters selected
• Net sales - Gross sales minus discounts and returns
• Gross Margins - Gross income divided by Net Sales 

You can use this data to view your performance against your:

Growth goals

• Identifying the brands that do the most for the business can assist with growing revenue by rerouting costs spent to brands that drive business goals.

Loss Prevention through brand or product analysis and their sellable velocity

• Reduce the time needed during brand or product analysis. 

Upselling your customers

• A better understanding of price point buckets can allow for an easy upsell per product type or subtype. 

Overall Efficiency 

• Through brand rationalization, you will reduce the time needed to purchase and maintain products and spend more time being surgical on the brands you want to support. 

Ask yourself the following questions and then based on your data and then make informed business decision that will help you achieve your goals.

• What brands give us the best margin per X product type?
  • Product Performance by Store - Utilizing this visual will allow the customer to  
• What brands have the highest net sales per X price point in X product type?
  • Brand performance is broken down by Price Buckets
• Is my purchaser keeping a healthy level of product compared to the brand's sellable velocity?