GfK’s Watch Panel gives Bransom clients free access to watch sales data
October 2017 – Getting the whole picture is what running a business needs, and getting an insight into what’s selling best helps to make decisions about which brands to stock and what stock to buy.
Bransom’s bsmart clients have comprehensive access to their own sales data through the integrated reporting system to make stock purchase and replenishment decisions, but when they sign up to the GfK Watch Panel, they get the benefit of knowing what’s selling across Great Britain and will be able to see if there are trends and popular watches they may not be aware of. Data is aggregated across independent retailers, chains and online stores such as Amazon to gain as wide a view as possible as to the market’s performance.
GfK’s Client Insight Director, Paul Mitchell, confirms the need for access to accurate market data.
“It’s important to benchmark your performance against the market, so that you can identify key threats and opportunities for your business. GfK’s service to the watch market allows you to do just that, receiving insight on sales trends across all price points, brands and types of watches. Understanding the reality of what’s happening across the wider market enables jewellers to make more informed decisions to drive their business forward. “
GfK’s report drills down into the detail of watch, drive, display and strap type, gender split, along with brand performance and volume vs price on monthly and annual ranges.
Bransom bsmart clients can sign up with GfK as a free service when allowing their own sales data to be anonymously sent to GfK by Bransom.
“To get this invaluable data at no cost can only be a very smart move for any retailer. We are committed to helping our clients maximise their profitability through analysis of data, and the GfK watch panel is another way we support that.” says Bransom’s Managing Director Chris Garland.
The GfK service comes under Bransom’s bsmart-links umbrella, which can automatically provide brand updates and pricing to bsmart systems, saving retailers from having to manually type in and correct item information.