OMNI - CHANNEL DATA COLLECTION
No matter the retail channel – in-store or online – RetailData has the expertise to collect, validate and deliver timely and accurate competitive Pricing Intelligence. With a customized approach to data collection and a robust process for delivering and reporting normalized data, our service offering informs decision-making with the data sources that make the most sense for your pricing strategy.
Our omni-channel approach to collection maximizes efficiencies, while ensuring you are receiving data that effectively maps to your program’s specific objectives.
If you require accurate and timely in-store data collection to inform your pricing strategy, RetailData has the expertise, unparalleled field resources and state-of-the-art technology to ensure that you get the right data in the right format in the timeframe you need.
EXPANSIVE COVERAGE & PROFESSIONAL TEAM
- 7,500 in-store audits conducted each week
- 7.1MM normalized data points collected and delivered to clients each week
- Dedicated field team of Data Collectors within 30 miles of 91% of all grocery, drug, mass merchandisers, dollar, club, and large specialty retailer stores across North America
- 100% of U.S. Data Collectors are RetailData employees
- Rigorous pre-screening and ongoing training
- Average tenure: 2.16 years
State-of-the-art mobile handheld device technologies that leverage a proprietary software platform for nimble and active data capture.
- Enables timely and efficient data collection with quality and accuracy
- Multiple prices can be collected per item
- Pricing differentiators reconciled
- Promotional pricing indicated
- Advanced technology initiates data validation at the shelf
- Validation starts at the shelf with image capture for items outside of an expected variance
As more and more retailers establish an online presence, a great opportunity exists to leverage the efficiencies of online collection to increase your competitive visibility. At RetailData, we think about online pricing data from multiple perspectives:
- Data that can serve as a viable proxy for an in-store program
- Data that doesn’t correlate to in-store, yet provides important visibility into what the competitor is doing online
RetailData conducts regular analysis to ensure the viability of online data as a proxy for in-store.
With state-of-the-art technologies and proven processes to collect from Web and mobile apps, our team of Web collection experts captures 65MM normalized online data points weekly. Our proprietary online collection process is thorough and accurate in order to provide actionable Pricing Intelligence for informed decision-making.
Data quality is critical to drive an actionable pricing strategy. Our multi-step validation process for both online and in-store data – beginning at the shelf when in-store – ensures the quality and accuracy of every price collected and reported.
Validation at the Shelf
- As the Data Collector records a price, if it is outside an expected variance, the price must be validated prior to collecting the next item
- The Data Collector cannot exit the audit unless all items have been reported
Validation vs. History
Data is compared to historical audits for the following:
- Percent price changes vs. prior audits
- Prices beyond expected variance
- Percent of items on promotion
- Prices outside of an acceptable tolerance are reviewed manually
Validation Across Audits
- Data is reviewed vs. other audits in the same timeframe to provide visibility across geography and auditors to confirm accuracy and consistency in the data you receive
LINKING & MATCHING
With one in five units sold being private label-branded, data must be matched to drive accuracy and relevance. Linking and Matching comparable products is critical to ensuring data normalization. To ensure comparison of like products, RetailData offers robust linking and matching services, including:
Dynamic Product Linking (DPL)
New package sizes, quality tiers, and private labels complicate collection and reporting of accurate pricing data. RetailData addresses this important variant with:
- A rules-based system wherein parameters and comparable items are pre-defined in terms of quality tier and size tolerance to allow for variety substitution
- A process to equate competitor’s price to your private label equivalent
With like products, RetailData ensures that:
- The collected UPC/SKU is converted to your store’s UPC based on comparable items in terms of item description, size and price
- Items are linked to a unique, equivalent competitor item
REPORTING & DATA VISUALIZATION
Whether you have a custom reporting platform that requires specific export parameters, custom requirements for data visualization, or prefer a turnkey reporting solution, RetailData has flexible options that meet your needs. Flexible and nimble reporting processes provide clients with actionable data in a format that can be immediately applied to pricing strategy.
RetailData’s proprietary data visualization solution analyzes data across retailers and locations enabling drill down to item level detail. MarketVUE offers easy access to robust reports, with a flexible graphic interface for readability and turnkey pricing data. MarketVUE encompasses:
SHELF PRICE ANALYSIS
- Price indexing and price variance across audits
- Analyzes common items across audits
- Highlights items with consistent, higher or lower pricing compared to the base store
- Profiles promotional strategy
- Provides item count and depth/breadth of discount by retailer and audit
- Includes items unique to the base store, common across both stores and unique to the specific audit
If you have existing systems and only need data in a specific format to fuel your pricing strategy, we offer multiple options for seamless legacy integration. Our solution addresses:
- Custom export to existing systems
- Multiple export options (Excel, flat file,…)
- Delivery via Secure Web Portal, ftp site, etc.
Clients with specific reporting and visualization requirements depend on RetailData to provide custom solutions. Our custom reporting offers:
- Design that meets exacting specifications
- Auto updates and refreshes