NEW YORK — Data research firm GfK Group will transition in 2020 to weekly regional data reporting for its point-of-sale (POS) tire retail panel, the company has announced.
Also, GfK has added over 1,400 independent tire dealers to the points of sale it covers in the U.S.
This gives GfK "unmatched coverage of the U.S. tire retail marketplace," the company said.
Since 2017, GfK's U.S. tire panel has captured monthly national POS data from tire sellers nationwide, delivering insights on pricing and competition that previously were unavailable, according to the company.
Instead of 12 data points annually, GfK will have 468, or 52 annually from eight regions, it said.
Covering up to 18 pieces of information for each tire product, the POS data shows trends for specific attributes and categories, including sales velocity, as well as sales and pricing comparisons for retailers in different regions, GfK said.
"In giving our clients the power to analyze the independent tire channel by census region, we are listening to the industry's needs and delivering the rich data our stakeholders require," Neil Portnoy, business leader of the GfK U.S. tires POS panel, said.
"Insights from our panel give retailers the power to compete and win against big box stores, car dealerships and e-commerce players," Mr. Portnoy said.