It is essential to have your finger on the pulse of retail trends as well as gut instinct and intuition about what license, character, and brand will sell. At some point science needs to intersect with this art.
Enhanced Retail Solutions (ERS) specializes in bringing the power of retail analytics to the licensor, examining all aspects of the business that can be optimized, including retail sales information by SKU and by door.
The ERS Licensing Model
The foundation of our business model is based on the dynamics between licensors, licensees and retailers- integrating each of their functions into a network of information sharing. Sales and inventory data gathered from the retailers (POS) is examined by ERS’s advanced retail sales analysis software tools, filling the gap of missing analytics between the licensor’s and retailer’s market research. Data is converted into ACTIONABLE information that licensors, licensees and retailers can use to improve their business. ERS serves a broad range of products from bubble toys to DVD’s to games to high end comforters sold at retailers from Wal-Mart to Saks.
Here is a graphic overview of the licensing process:
We offer proactive ways to grow your business, such as:
- A Demographic Profiler that reveals who your customer is: their age, race, income and education levels; whether they have children and much more. This information can be used to find additional stores that don’t carry your brand’s product, or to find stores with similar traits at other retail chains. It is the ultimate way to get a test on a new product. For example, a major home furnishing company showed Wal-Mart that they had a market for expensive down comforters in certain stores located in high income levels. A resulting test order for 200 doors has grown into a $20M+ program.
- Helping the buyer tier the distribution of your brand’s items to the stores whose client base matches the demographics you know are best increases turnover, and minimizes the risk of markdowns. A licensee grows sales and helps you build a brand. The retailer increases sales. Everybody wins.
How we help the licensing community:
Our retail analytics system does the intensive work of converting millions of lines of data into ACTIONABLE information in seconds. Now you can spend less time getting and formatting data, and actually analyzing the business in ONE application.
Encouraging your licensees to use our suite of retail analytics tools offer a powerful information advantage for their individual businesses as well as yours.
At ERS we have over 30 years of buying, selling, branding, retail sales consulting and product development experience that you and your licensees can take advantage of. This insight enhances the relationships you and your licensees have with your retail partners.
Licensors, with ERS’ Software & Consulting you can:
- Track sales by brand, category, retailer and licensee
- Capture and study demographics of existing customers, even at door or zip code level
- Create clear, concise reports and action plans that licensees and retailers can implement with ease
- Access sell through information for chain, region, and door level
- Determine market basket and lost sales
- Determine Potential of a brand/license
- Penetrate new markets, with optimized time lines
- Determine effectiveness of promotional lifts and price points at retail
- Review licensee productivity and insure royalty accountability
- Have one consistent platform of reporting across all retailers/licensees
Contact us today to find out more about how we can help you.