Retail same-store sales increased 1.2% in July 2014 compared to July 2013, or $3.6 billion, according to data from the APT Index. Areas that performed better included those where temperature increased versus last year, where rainfall decreased, and where median income is less than $75K. Click here to view the top and bottom performing cities.
In a recent article from Convenience Store Petroleum Daily News, APT Chairman Jim Manzi commented that if retailers want to understand how each business decision affects the bottom line, they should prioritize data sources, such as:
- Customer data
- Transaction log data
- Weather information
- Area demographics
- Competitor fuel pricing
According to Manzi, the most valuable data streams are those that can be used to directly determine the cause-and-effect relationship between any new initiative and key metrics.
Watch APT SVP Aaron Fidler discuss how CPG manufacturers can benefit from using flexible and deeper analytics that bring together multiple data sets to understand which factors are driving performance.
Data recently released from the APT Index shows that while same-store retail sales were flat year-over-year for U.S. retailers in June, Father’s Day weekend generated sales of over $33 billion, an increase over Father’s Day weekend last year. Top performing cities for Father’s Day weekend included San Antonio, TX [+5.9%], Denver, CO [+4.9%], and Charlotte, NC [+3.5%].
The APT Index provides retailers with a hyper-local benchmark of retail sales data in the areas immediately surrounding their locations. Based on actual sales data from over 65,000 retail locations, the APT Index helps in creating store benchmarks, understanding the impact of national campaigns and major events, and explaining performance to investors.
Please click here to read the full APT Index June results.
Watch APT SVP Mark D’Agostino discuss the unique analytic needs of a category manager and speak about how APT is addressing those issues with over 40 of the top 100 U.S. retailers.
APT SVP and Head of Europe Luca Zuccoli recently discussed some unique challenges facing European retailers today, and what they can do to address these challenges.
APT announced today that May retail sales increased 0.9% overall and Memorial Day Weekend sales were up 3.9%, according to data from the APT Index. Over Memorial Day Weekend, shoppers spent $1.9 billion more in 2014 than in 2013. The APT Index also showed that the holiday weekend sales increased more in areas that had fewer rainy days. Click here to read the full May report.
Gut feeling and intuition have always been key parts of executive decision-making. But, as data collection becomes easier and data analysis becomes faster, how should executives blend intuition with data analytics?
This morning, the Economist Intelligence Unit and APT released the findings of an authoritative study that analyzes how decision-making is changing across industries and geographies. Direct findings from the report include:
• 57% executives reanalyze the data if it contradicts their gut feeling
• 42% of executives are “data-driven”
• 45% of respondents who agree that their company is growing faster than the competition also say they can predict decision outcomes by analyzing tests and trials
• 19% say decision-makers are not held accountable in their organizations
Click here to see all the actionable findings from this Economist Intelligence Unit study.
To “decide” can be interpreted as “picking one option and killing off all others.” In business, doing this right has large rewards, and getting it wrong has severe consequences. While executives have always made decisions, increasing amounts of data, sophisticated consumers, rapidly evolving technology, and disruptive competitors, are fundamentally changing the art and science of decision-making.
APT partnered with the Economist Intelligence Unit to study how decision-making is rapidly evolving across various industries and geographies. The resulting report addresses tough and important questions, such as:
(1) How do executives blend intuition with data? Are companies allowing executives to trust intuition?
(2) How are executives using data in decision-making when the data is counter-intuitive to their beliefs?
(3) With so much data available, which data should executives consider? And, how should they best incorporate it in decision-making?
The report will be released on June 5th in London. Please email info[at]aptmail.com to be the first to get a complimentary copy of this actionable report written by the Economist Intelligence Unit.
Grocers are increasingly seeking to transform their stores into one-stop shopping destinations for consumers. To this end, numerous grocery retailers are adding health services to their in-store offerings. Stop & Shop recently announced the introduction of a partnership with an area hospital to bring health clinics into its stores in Connecticut. Additionally, Wegmans has installed health stations throughout its store network in an effort to encourage customers to monitor vitals like their blood pressure. (more…)