Krunchbox has recently released their 2021 POS Analytics Benchmark Study.  They surveyed over 400 product suppliers and asked them about how they use POS data and how it is being leveraged to engage with and influence retail buyers. This report comes at a unique time in history. We are currently at the crossroads of a new era; a time when the world is in flux and retail has been swept up in the storm. Buying habits have changed dramatically over the last year as consumers opt to do more shopping from home and retailers have been forced to adapt in many ways.

Furthermore, retailers and suppliers need to collaborate with one another more than ever before. With location-specific lockdowns impacting certain store locations without warning, it’s never been more important for retail stakeholders to leverage real-time data to overcome the limitations of historical data during these unprecedented times.

Krunchbox believes you’ll come across many intriguing findings in this year’s report. For instance, 77% of respondents reported issues with out of stocks in 2020, and 60% reported having to deal with short shipments.

Here are few more key highlights:

  • 84% of respondents this year, view POS analysis as an investment in their organization
  • 39% of responding companies have made significant changes to the way they analyze POS data in the last 12 months
  • 74% of respondents believe that their buyers are becoming increasingly receptive to ideas when presented with data-backed recommendations

 

 

Download a copy of the report.


As part of CHHMA’s ongoing effort to help members gather better data and uncover greater insights, the association is pleased to have partnered with Krunchbox, a simple to use, cloud-based business intelligence tool designed to help vendors and their retailers collaborate around point-of-sale (POS) data and make more effective inventory decisions.

For further information, please email Doug Murless at dmurless@krunchbox.com.