RangeMe Reveals Buying Trends Early With Industry Insights
San Francisco-based RangeMe is offering an exclusive look at retail buying trends before they hit shelves though its Industry Insights tool.
Unlike other data sets available to CPG suppliers for purchase, RangeMe Industry Insights are based on what retail buyers are actively seeking in real time to purchase for their shelves six to 12 months out. It allows suppliers to:
- Better identify opportunities to position their products, both on RangeMe and off
- Make informed, strategic business decisions around key product points like packaging size or pricing
- Target and refine their most promising new product ideas
“The real-time view of Industry Insights gives suppliers an inside track into what buyers are showing interest in on the RangeMe platform,” RangeMe founder and CEO Nicky Jackson said in a media release. “This is a cardinal addition to the platform, touching all areas of the consumer packaged goods industry, and will further revolutionize the way new products are sourced, ultimately improving how consumer needs are met."
Using Industry Insights, RangeMe Premium subscribers can break down the intricacies of product performance by:
- Margins – discover how the margin across suppliers’ product lines compare to both the category range and the buyer interest range.
- MSRPs – compare retail prices to those of other similar products, and discover insight on how suppliers’ retail prices fares with buyers' interest.
- Packaging type – find out the quantities that are most popular in a subcategory, as well as the quantities that are trending with buyers.
- Certifications – view the common certifications across a subcategory, and find out which ones are hitting the mark with buyers.
- Search terms – uncover the terms that grab buyers’ attention and get products noticed
Initial users of the tool have provided positive feedback, such as Danielle DeWolf, SprinJene Natural Toothpaste director of sales and marketing.
"As we think about how we’re going to position ourselves while we’re pitching our product, I look at Industry Insights as part of my process before I meet with buyers," DeWolf said in a statement. "I especially pay attention to the trending buyer search terms and certifications, because those can shift frequently. I want to make sure we are engaging those terms thoughtfully when meeting with buyers, because we know they’re already on buyers’ minds.”