Continuing its drive to create a truly data-driven tire retail market in the US, GfK will transition to weekly regional reporting of data from its POS panel of tire retailers in 2020. In the past month, GfK has added over 1,400 independent tire sellers to the panel, giving GfK unmatched coverage of the US tire retail marketplace.
Established in 2017, the US tire panel captures point-of-sale (POS) data from sellers nationwide, delivering competitive and pricing insights that were never available before in this marketplace. Globally, GfK is collecting tire POS data in 30 markets, with a consistent methodology that allows regional comparisons and worldwide trending.
GfK codes tire models thoroughly, collecting up to 18 pieces of information for each 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.
“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,” said Neil Portnoy, business leader of GfK’s US Tires POS panel. “Insights from our panel give retailers the power to compete and win against big box stores, car dealerships, and ecommerce players. We also provide manufacturers with a much-needed demand signal, to reduce stock-outs and back orders. GfK’s POS data is a game changer, creating a more efficient and profitable marketplace.”
GfK’s POS tire panel provides unprecedented data to inform dealer and manufacturer decisions, allowing them to understand – for the first time – census-region trends, competitor activities, sale prices, and brand market share.