|Date Published||August 20, 2014|
The tire business more complex than ever due to increasing competitiveness, size proliferation, consumer shopping behavior and demands on inventory productivity. Sam Williams, Vice President of Sales and Strategic Initiatives with Fitment Group and Jim Walker, Executive Account Manager with the IHS Automotive group, discuss how to use “Big Data” to position your business for success. The presenters review market trends, consumer buying behavior, competitive analysis, localized market demand, competitive pricing and product screen development. The presenters also explain successful data-driven strategies to develop optimized pricing and product screens. Some of the touch points to be discussed are: RMA sellout forecasts, Vehicles in Operation (VIO) data, Competitive Pricing Intelligence, Competitor’s assortment analysis, data defined trade areas, vehicle/tire life cycles and consumer behaviors.