For over 20 years, convenience retailers have taken the guesswork out of category management, inventory controls and merchandising by using the industry-leading SmartStock program from Core-Mark.
Now, SmartStock can further drive in-store sales performance across multiple product categories thanks to a series of enhancements, including advanced data analytics and other technological improvements being released today from Core-Mark, the market leader in convenience retail distribution in North America. In just 60 days, over 11,600 convenience retailers have signed up for this newly refined SmartStock program.
The “new” SmartStock program now encompasses 15 product categories and leverages data analytics to provide meaningful insights — such as identifying new products that appeal to a store’s customer base — that are designed to grow sales and profitability.
“Long proven to help propel sales growth across product categories, SmartStock will now do even more for our customers,” said Chris Murray, SVP of Marketing, Core-Mark. “By leveraging new advanced data analytics capabilities, with real-time insights displayed on our PowerBI dashboard, retailers will make faster and smarter decisions that will further drive sales and improve consumer satisfaction.”
Among the latest, upgraded merchandising and product selection capabilities SmartStock offers are:
- Advanced data analytics and item-level trend analysis using systemwide Core-Mark data from 40,000+ outlets and syndicated IRI convenience retail scan data
- Optimized category planograms leveraging Blue Yonder Assortment Optimization (AO) recommendations and using such data analytics solutions as weighted analysis, targeted metrics and product ranking
- PowerBI retailer dashboard – which is cloud-based and accessible on all devices and platforms – displays real-time, data-rich, item level details and category performance metrics to evaluate product sales performance vs. previous time periods and benchmarks
- Advanced ordering technology – available on iOS and Android platforms – allows retailers to take advantage of key data points to make informed ordering decisions
- Free, high-quality merchandising display racks for SmartStock category sets
Most importantly, each SmartStock customer receives an in-store visit from a highly-trained Core-Mark consultant, who will share industry insights and review recent store performance via the SmartStock dashboard. Based on this analysis, the consultant will provide category management and merchandising recommendations.
“Even before making these program updates, SmartStock stores grew at twice the rate of non-participating locations,” said Nati Rezene, Merchandising Director of Center of Store, Core-Mark. “With these changes, we anticipate accelerated growth across all SmartStock categories. Combined with regular visits from Core-Mark experts, SmartStock enables data-backed solutions with a personal touch.”
Core-Mark is one of the largest marketers of food, fresh and broad-line supply solutions to the convenience retail industry in North America. Founded in 1888, Core-Mark offers a full range of products, marketing programs and technology solutions to 40,000+ customers in the U.S. and Canada through 32 distribution centers (excluding two distribution facilities the company operates as a third-party logistics provider). Core-Mark services traditional convenience retailers, grocers, drug, liquor and specialty stores and other stores that carry convenience products.