Pain Points for Vendors Without Real-Time Retailer Sales Data and Insights

Franita Bosman, MD & Founder, BD-Nav

Running a successful business can be a challenging task. Without access to real-time retailer point-of-sale’s data and insights, it can be even more difficult to make informed strategic business decisions. Here, we look at some of the pain points that vendors may experience without access to this crucial retailer-aligned POS data.

1. Inability to Identify Consumer Demand:

One of the major pain points for vendors without access to real-time retailer sales data is the inability to identify consumer demand. This can result in a situation where vendors are unable to keep their products constantly stocked or overstock them, leading to loss of sales opportunity. In the absence of real-time data, vendors may be forced to rely on guesswork, industry trends, and intuition, which may not be accurate or reliable. What is the real demand from being out of stock to being in stock again? What is the real rate of sale determining orders, shelf-space, advertising opportunities and various other critical decisions being made based on the product’s rate of sale?

2. Poor Inventory Management:

Without access to real-time retailer sales data, vendors may face challenges in managing their inventory effectively. Poor inventory management can lead to stock-outs, overstocks, and wastage. This can result in unnecessary costs, loss of sales opportunity (retailer listing) and stagnant rate of sale causing product discontinuation. In addition, it can affect the customer experience negatively, leading to reduced customer loyalty and brand reputation.

3. Limited Growth Potential:

Finally, without access to real-time retailer sales data, vendors may find it challenging to scale their businesses effectively. Limited growth potential can be caused by inefficient inventory management, poor pricing strategies, inability to identify available opportunities, and lack of competitive advantage. This can result in a situation where vendors are unable to expand their customer base, increase revenue, or enter new markets. Most of all-causing missed sales opportunities.

At a time when data is king and insights reign supreme, it is crucial to have access to real-time sales data insights. This is where BD-Nav comes in – a proudly South African company, with patented software. We understand that vendors operate in a complex and ever-changing environment, and that data can be overwhelming and difficult to interpret. We simplify this data and provide vendors with a clear snapshot of critical areas, measured against targets.