From the size of the audience it would seem that specialty retailers have sales data on lock. Only about 14 people attended ActionWatch’s Cary Allington’s seminar at 1:30 PM today. And that is strange because he is offering a completely free way to know exactly what is checking in specialty retail shops across the country. More importantly, his data can be used to compare what retailers are doing in their own stores to the aggregate.
The catch? Retailers simply supply a monthly sales report that gets aggregated, given back to the member retailers free of charge, and then sold to suppliers. Currently, Allington has approximately 180 specialty retailers signed up but he’s hoping to get to 300.
There are great reasons for retailers to share data. One of our favorites is using the data to negotiate with suppliers to get better deals. If a retailer knows that brand “X” skate shoe is selling at margins that are below average, it would be nice to share that information with the supplier as leverage.
This really is about empowering retailers. “Retailers think they have much less power than they actually have,” Allington said.
And after all, data is power. Might as well have some of it on your side. But then again, these are specialty retailers. . . good luck, huh?
[Link: Action Watch Reports]
