WESTLAKE, Texas —Core-Mark Holding Co. Inc. has enhanced its SmartStock program for category management, inventory control and merchandising, the convenience-store distributor has announced.
Enhancements include advanced data analytics and other technological improvements. In 60 days, more than 11,600 convenience retailers have signed up for the refined SmartStock program, said the company.
The SmartStock program now encompasses 15 product categories and leverages data analytics to provide insights such as identifying new products that appeal to a store’s customer base.
“Long proven to help propel sales growth across product categories, SmartStock will now do even more for our customers,” said Chris Murray, senior vice president of marketing for 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.”
The latest, upgraded merchandising and product selection capabilities SmartStock offers include:
- Advanced data analytics and item-level trend analysis using systemwide Core-Mark data from more than 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.
Each SmartStock client receives an in-store visit from a Core-Mark consultant, who shares industry insights and reviews recent store performance via the SmartStock dashboard, the company said. Based on this analysis, the consultant provides 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 for 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 a major distributor of food, fresh and broad-line supply solutions to the convenience retail industry in North America. Founded in 1888, it offers a full range of products, marketing programs and technology solutions to more than 40,000 customers in the United States and Canada through 32 distribution centers. Core-Mark services traditional convenience retailers, grocers, drug, liquor and specialty stores and other stores that carry convenience products.