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For many CPG manufacturers, the convenience retail market has been a necessity rather than a strategic investment due to the lack of data and insight around product performance. What has long been a blind spot of information can now be a bright spot for CPGs to understand and analyze their consumers much more effectively. By providing accurate, near-real-time transactional data capture and analysis, new tools are empowering CPG brands to transform their relationships with convenience retailers from mundane necessities to strategic investments. The Data You Need Historically, c-stores have provided CPG manufacturers with point-of-sale data on a bi-weekly basis with only the basics included. Although weekly sales, units, and average price could be useful data points, the delay in receiving them has made it difficult for CPGs to perform a deeper dive on understanding trends and reacting in a timely manner. There also has been a lack of granularity in the data, creating the blind spot that many brands haven’t been able to navigate. Improving the velocity and granularity of this data could yield faster insights and analysis, empowering CPG manufacturers to optimize their strategies faster. Understanding the impact of promotions, estimating volume per outlet, and identifying trends from specific locations could also create promising new opportunities for brands. This data could also include basket-level insights that enable both c-stores and CPG manufacturers to drive revenue by better understanding related items. For example, is your product commonly paired with a specific companion? Is your product often bought in multiples or as a standalone item? As a CPG manufacturer, the ability to determine trends around how your product is included in a basket can offer an opportunity to drive sales with the c-store, or even other manufacturers. Being able to increase the average convenience retail transaction by just one item can equate to 20 to 40% more revenue per basket. One often-overlooked element in the value of c-stores is their large footprint. Across the U.S. there are approximately 40,000 grocery store locations but more than 150,000 convenience retail locations. This increased quantity offers a number of benefits as you analyze your product and brand strategies. Location-specific analysis and decisions are more feasible when you can break down data into geographic territories. Layer demographic data on top of this and you can build a more detailed picture of audiences and trends. You can then begin to design strategies that are specifically aligned…

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