When it comes to the data accessible to brands and retailers for optimizing sales, there has never been more available than today. Traditionally, the ideal POS model involved point-of-sale terminals batching information down to the minute. However, from transmission errors to retailer opt-outs, the flaws of traditional major appliance SKU data quickly became irrefutable.
This error paved the way for a new kind of data system—detailed tracking of the omnichannel consumer without reliance on retailer participation. As the landscape of SKU data became challenging to navigate, TraQline HPOS™ made it simple again. Let’s unpack three reasons major appliance data is better without retailer participation.
Benefit 1: Consistency in Participation
In retailer-dependent data systems, any retailer may opt out of participation at any time. This issue requires tedious projection and recalibration while negatively affecting the quality of SKU-level insights.
More retailer coverage equates to more accurate market insights. Naturally, because a lack of retailer participation can narrow the scope of data, the resulting insights can be less actionable. TraQline HPOS can provide a consistent/reliable data product at the SKU level by offering insights independent of retailer participation.
Benefit 2: Wider Major Appliance Market Coverage
As mentioned above, retailers can opt out of traditional POS systems at any point. These systems can be a hassle for retailers—with little (if any) incentive to participate.
Additionally, typical point-of-sale models involve collecting sales feeds from retailers. Each night, the retailers upload their receipt data. Then, an aggregator will compile that information, normalize it, and make it available to their customers. Because the TraQline system does not rely on retailers to provide their information, there is no risk of transmission errors by the retailer or waiting on data often a result of transmission lags. Collectively, this process leads to broader market coverage with more accurate insights.
Benefit 3: No Need to Mask Data
The power of your data applies in its ability to inform your merchandising decisions, internal discussions, and action plans. However, private label or derivative insights come with a catch. You must piece together your paid data without all the information you need to arrive at a clear picture. As such, masking data can leave you lagging behind the latest trends.
Conversely, independence from retailer participation can have the opposite effect. You can get the first glimpse at trends as they emerge from the largest brands and retailers in the industry—keeping you several strides ahead of your competitors.
How TraQline HPOS™ Provides Independent Major Appliance Data
So, you might be wondering, “How is independent data possible?” It requires a sophisticated network of in-house technology, an advanced system of organizing and normalizing insights, and connections with the largest retailers in the industry.
While we can’t give away all of our secrets, you won’t be surprised to learn that TraQline HPOS leverages data from our in-house consumer surveys, the resulting consumer behavior insights, advanced data modeling, and other cutting-edge TraQline technology. We are also built on a team of industry-leading market research professionals, data scientists, market analysts, and economists who lend their unmatched experience and expertise to this tool.
Accurate Major Appliance Market Data: TraQline HPOS™
As the frontrunner in major appliance SKU data, TraQline provides the highest level of service to leading businesses across the industry. We help brands and retailers like yours gain share, crush their competitors, and advance toward the future with confidence. Contact our experts today to learn how we can help you dominate within the major appliance market.