Providing Your Customers With the Products They Want, not Just Those That Your Suppliers Want to Sell
Take a walk through some of your neighborhood stores and check out their Bluetooth aisle. The products being sold are still the same old single “over the ear” pieces. However, Consumer Demand Signals clearly indicate that users want something different; an increased penetration of smartphones means consumers are looking for Bluetooth headsets that can also serve the purpose of listening to music, as well as providing long battery life and stereo.
A headset that meets consumers demand is the Bluetooth LG Tone. However, because LG is not a traditional supplier of headsets it is a product you won’t find in most brick & mortar retailers. You will find a number of products on Amazon and other online retailers that have outstanding sales, yet most brick & mortar retailers seem to be quite oblivious to them.
Consumer digital footprints are everywhere; whether it is in Google Trends, increases in reviews, the reviews themselves, or social signals. Merchants no longer need to rely on suppliers, NPD, or Nielsen to tell them which products are hot. Unfortunately, most retailers continue to listen to their suppliers not to their customers. This is where the Democratic Demand Index (DDI) comes in. DDI is Ugam’s proprietary big data; all-encompassing, sell-more-products, crystal ball best-seller predictor demand index. It constantly scours the market for products that show the right consumer patterns to predict best sellers. Some examples of the types of data it collects include text from customer reviews as well as quantity of customer reviews:
Democratic is how Ugam refers to the data that consumes are freely sharing with us. Demand Index indicates the digital footprints that we feed through our Big Data Engine to churn out potential best sellers. Below are more headsets that we are predicting will be top sellers based on the DDI.
Below are the top 10 headsets (in descending order) that we are predicting will be bestsellers this holiday season, based on their DDI score.
Don’t lose sales – contact us now to get the products your customers want into your assortment:
Navin is responsible for the product and solution management at Ugam. He is passionate about conceptualising new innovative retail solutions and taking them to market. His previous positions included VP of Retail at Mu Sigma, Head of Retail/CPG products and platfo rms in Infosys and was co-founder of Manthan systems. He comes with extensive knowledge of designing and developing analytical products and solutions for the retail and CPG industry. He has a bachelors degree of Mechanical Engineering from Pune university and has done Marketing from U21 Global. Navin loves to travel and is passionate about wildlife photography .