Galileo: Cutting Edge Tool for Retail Comp Shops

What Are Comp Shops?

“Comp” shopping means making a “comparison” to the “competition.” Sound simple?  It’s not! An accurate and actionable Comp Shop involves truly understanding your competition...understanding all their channels and how they measure their data. So how can retailers and their vendors do just that… ensure they understand their competition?  Galileo, that’s how!

What is Galileo?

Galileo is an objective, dynamic, and comprehensive tool which gives an accurate overview of the total market landscape AND drills down into the details such as SKU#, Product Specs, and Pricing. Galileo is:  

• Complex technology that captures all the relevant data

  • Data on retailer, brand, product, price, features, specifications and available inventory

  • The ability to drill down from summary dashboards to product and location details

• Comprehensive growth strategy development

• A perfect way to see assortment, price, or spec gaps and localization opportunities,

• Product development road mapping

 Why Galileo?

The team at Paradgym Consulting understands that there are roadblocks to acquiring reliable comp data.  Roadblocks such as:

• Acquiring in-person data

  • Time consuming and impractical

• Pressure on retailers and manufactures to grow profitability

• Retailer specific roadblocks:

  • Product Management

  • Account Management

  • Sales Management

  • Manufacturing

  • Marketing

  • Finance

  • Forecasting

• General retail roadblocks:

  • Sourcing

  • Customer/Retailers

  • Investors

• Disconnects in the understanding of retailers:

  • MAP policies

  • Online data quality

  • Retail accuracy by store

  • Stocking matrices

  • PLRs

• Complicated, ever-changing retail landscape:

  • Store count changes

  • Retail changes over time

  • Pricing tests

  • Adjacent category relevancy

  • Brand trends

  • Cost increases

  • Seasonal execution

Paradgym knocks down the roadblocks with their own Comp Shop tool!  That tool is Galileo! 

The Information Galileo Provides!

With such a comprehensive tool, developed by retail experts, retailers and vendors will have access to not only data but expert analysis of the data.  Analysis such as:

• Market and Mix Analysis

  • The entire competitive market

  • A view of all retailers, brands, and products

  • Comparison of attributes (color, size, buy packs, features)

  • Nationwide store and location visibility

  • Estimates of the value of all the competition’s program strategies over time

  • Pricing, brand positioning, product and pricing tests, planogram and product mix, market share

  • Scalable vs. static product features and their market value

• Gap Analysis

  • View the full competitive landscape

    • Gaps and opportunities across the retail markets

    • Products across retailers, channels, geographies

    • Over/under weight opportunities by retailer

    • Retail positioning, feature choices, brand value for all the competition

    • Data centric methods to track changes over time

• Product Development Analysis

  • Product level values—working down from retail or up from cost

  • Guidance for new product development and line pricing

  • Solution to Retailers with more information than they typically possess or can even access themselves

Winning with Galileo!

Essentially, Galileo is THE comp shop tool that allows vendors to take control of the competitive landscape.  It improves Product Line Review outcomes and gives vendors confidence in their product offerings.  With Galileo vendors can trust that they are developing innovative products; products that drive market share and profitability.

#Compshops, #Galileo, #Competitivelandscape #Paradygmgalileo

Let’s Connect!
Reach out to: admin@paradygmconsulting.com