Category Management Services Remove the Guesswork
Most products have a shelf life, and batteries are no exception. A battery’s performance can degrade over time while sitting on the shelf. Driving inventory turnover plays a key role in minimizing aged inventory. A balanced approach is required to optimize market coverage and sales velocity. Reaching that balance is best achieved through a collaborative process between the battery seller and the battery supplier.
Stryten Energy’s Category Management Services can remove the guesswork for retailers by providing a framework to help determine the types of batteries and the amount of each that will sell in a timely manner. A data-driven assortment recommendation is tailored to each customer’s go-to-market approach. Stocking recommendations can also be more finely tuned to account for variances in store location and product focus.
Developing a Category Management Plan
The first factor when developing a category management plan is to determine the role that the battery category will play in a retailer’s overall business strategy. Does the retailer want to offer “everything to everybody” in terms of battery selection, or simply supply “something for most?”
Once that crucial question is answered, Stryten’s experts analyze the potential market for the retailer’s locations. They take into consideration a variety of inputs. Examples include consumers’ price sensitivity, the age and type of vehicles in the area, and the targeted consumer profile. Armed with these critical data points, the team then works with the customer to create an inventory plan that aligns the customer’s business goals with the available market.
Because Stryten’s approach can be customized for each location, the recommendations can be different, even within the same retailer. The objective is for each location to carry batteries that will sell before their shelf life is over. One size definitely does not fit all. A retail location in a suburban market may require a different assortment than the same retailer’s location in a rural market.
The Ultimate Goal
Stryten’s ultimate goal of Category Management Services is to partner with our customers to achieve their business objectives through a complete understanding of their unique needs and go-to-market strategies. At Stryten, we collaborate with our customers to understand where they want to go, and then we find the best way to help them get there.
Alex Templeton, Director of Marketing, Stryten Energy