Search
  • Home
  • How to gain competitive advantage in the retail industry
  • How to gain competitive advantage in the retail industry

    Description:,Kuala,Lumpur,,Malaysia,-,Dec,23,,2024:,A,Variety

    The competition between FMCG companies in the retail environment is relentless, and understanding your competitors becomes key to success.

    Steve Johnson, Managing Director of Frontline Research Group (FRG), emphasizes, “Emerging markets are some of the fastest growing in the world. For companies aiming to enter or expand their footprint here, having access to accurate retail data and benchmarking against competitors is crucial.”

    FRG offers a variety of products designed to help businesses secure a competitive edge.

    “Our offerings provide valuable insights—not just raw data. What sets us apart is our capability to turn that data into actionable analyses and strategic direction,” Steve adds.

    Market Landscape Developer

    One of our key tools, the Market Landscape Developer, is valuable for businesses looking to enter or grow within a new market. This tool delivers comprehensive information about specific geographic areas, including overall market size, competitiveness, market share, brand performance, and execution at the point of sale. Additionally, it assesses customer service effectiveness throughout the value chain.

    Frontline’s Market Landscape Developer equips companies with precise insights about the market’s size and value and offers a clear picture of the competitive landscape, thus empowering businesses to strategize effectively against competitors.

    Retail Tracking

    Our dedicated division, Retail Tracking, specializes in analysing the market and trade dynamics on an ongoing basis. We gather SKU-specific data and analyse retail trends, as well as monitoring competitor activities.

    With Retail Tracking our clients can compare their market performance against competitors, gauge brand and product successes, and identify potential threats. The core objective is to track market performance and bolster our clients’ market positions while navigating competitive challenges.

    Steve explains, “We deliver strategic insights alongside tactical recommendations, supported by our experienced client services team that ensures reports are meticulously tailored to our clients’ needs.”

    Retail Execution and Tracking

    Maintaining a competitive edge necessitates the consistent execution and tracking of retail strategies. Proper display and implementation of products and promotional materials require continuous evaluation and adjustments.

    Frontline Research Group has developed an innovative retail execution and tracking methodology called RADAR, providing real-time monitoring of results.

    “Upon identifying the customer’s KPI requirements, we create a custom digital dashboard, granting real-time access to vital research results,” Steve states. Clients can track a range of information—availability, price compliance, share of voice, merchandising, asset standards, and customer satisfaction index—empowering them to maintain a competitive advantage.

    Market Intelligence

    Our suite of market intelligence surveys provides deep insights into various aspects of market dynamics, enabling businesses to compare their performance against their competitors and thus enhance their strategies.

    Market Segmentation Surveys

    Market segmentation surveys delve into different sales channels, helping to identify distinct customer segments. By analysing these segments, businesses can customize their marketing strategies to better cater to individual needs, ultimately improving channel performance and enhancing customer engagement.

    Channel Needs Surveys

    To effectively meet the demands of diverse sales channels, understanding their specific needs and preferences is essential. Our channel needs surveys gather valuable insights that enable businesses to optimize their product offerings and elevate service levels, ensuring they align closely with the unique requirements of each channel.

    Route-to-Market Strategy

    Evaluating the effectiveness of various distribution routes is key to efficient market entry and product delivery. Our route-to-market strategy assessments provide businesses with insights to streamline logistics, reduce operational costs, and enhance efficiency in getting products to market—all of which contribute to a stronger competitive position.

    Trader Satisfaction Surveys

    Trader satisfaction surveys play a vital role in gauging the satisfaction levels of traders with our clients’ products and services. These surveys gather feedback on product quality, pricing, and service delivery. The insights obtained can be instrumental in strengthening business relationships while also informing improvements to overall satisfaction and performance.

    Utilizing this range of services allows businesses to gather critical data and insights, driving informed decision-making and supporting strategic growth initiatives. “We provide a lot more than just data, with also provide analysis, insights and direction. Our objective is to ensure that our clients have the necessary information to outperform their competitors,” concludes Steve.

    For more insights or for a demonstration, please reach out to Steve Johnson, Managing Director, at +27 (0) 86 999 0407 or via email at steve@frontlineresearchgroup.com.

    For more articles like this click here.  

    If you enjoyed this website then check out our other sites: Wedding and FunctionHome Food and TravelKids ConnectionThirsty Traveler, Bargain BuysBoat Trips for Africa. 

    Need help with your online marketing then visit Agency One. 

    Facebook
    Twitter
    LinkedIn
    Pinterest