This article is brought to you by Skupos.
“Skupos has access to data from more than 15,000 convenience store retailers,” said Christine Shriver, chief revenue officer at Skupos, a software company that provides brands with data analytics at small chains and independent convenience retailers. “We have a data-driven approach that can help brands increase distribution, increase sales, and understand their convenience store customers on a deeper level.”
Independent and small chain retailers generate 70% of sales in the channel; however, due to their fragmented nature, these stores have been difficult to access and track. With data scanned directly from the retailer’s point of sale, the Skupos dataset provides critical insights into an often overlooked market segment.
Skupos recently helped an emerging energy drink brand increase new store distribution by 10% and increase the number of new SKUs on shelves by 13%. As? Skupos used its data to identify high-potential stores for brand placement and ran promotional and rebate programs within its network to incentivize stores to sell target SKUs.
“We have helped brands of all sizes optimize their convenience retail strategy. Not only can we provide data from a previously untapped part of the market, but brands can also put that data to work by executing results-driven programs within our retail network,” Shriver said.
Shriver says one midsize brand has also turned to Skupos to help increase distribution for new stores.
“This company faced challenges like accessing data in the independent convenience store space and connecting with retailers to launch brand-funded programs,” he said. “So we created a data-driven approach to drive new store distribution, leveraging Skupos’ two products for CPG brands, Insights and Engage.”
The midsize brand was able to build 1,670 new stores and 9,400 new distribution points, received six times the return on investment, and sold an additional 340,000 incremental units. “Skupos Insights provides brands with the data they need to develop winning strategies, and Skupos Engage enables brands to put that data into action, providing a one-stop-shop for brands looking to make an impact in independent convenience stores,” he says. Shriver.
Similarly, a larger brand turned to Skupos for a solution for the independent convenience store market. Large brands face unique challenges, according to Shriver, including reaching new customers and identifying and navigating shopper behavior in the small convenience store space.
“We created a two-pronged approach for this larger brand,” he said. “We use shopper analytics based on transaction data from thousands of stores, as well as a transaction-level data feed to really set the brand up for success.”
Due to this approach, the big brand found that it had loyal buyers, but that loyalty was waning due to other competing brands. Based on these findings, the brand decided to change its strategy, adopting a more data-driven approach. It partnered with Skupos to integrate Skupos data into its own reporting system and also used the Skupos Engage platform to incentivize retailers to correctly price their products, run valuable promotions and offer the right mix of products.
“Skupos allows brands to make every dollar count in the independent convenience store space,” Shriver said.
This is the latest installment in a two-part NACS Daily series on how CPG brands and convenience retailers can use data to sell smarter. learn more about Skupos.
