We bring transparency to your relationship with retail

The benchex Retail Barometer©

Many brands use the benchex Retail Barometer©. benchex asks the client’s chosen retail partners about their level of satisfaction with the client’s brand, as well as with any other relevant brands belonging to the clients’ competitors.

We then gather quantitative data using an online questionnaire

The questionnaire is programmed in such a way that participants in retail only receive questions that are personally relevant for them.

We coordinate the questionnaire with both a pilot brand and a pilot retailer in order to be able to ask questions that are specifically relevant in each category.

We expand upon the feedback from the online questionnaire using qualitative statements from telephone interviews conducted with contacts in retail. These conversations are carried out to justify the evaluation, as well as to ask brand-specific questions.

We analyse the feedback and produce a list of competitive strengths and weaknesses for the client, identifying “weak points” and suggesting the appropriate measures to overcome them.

Our clients and their retail partners process the Retail Barometer’s© findings and establish a common focus in order to achieve maximum retail satisfaction and hassle-free procedures.

Retail participants examine the benchex Retail Barometer’s© top lines and the client discusses the findings with their retail partners.

This is how the benchex Retail Barometer© creates transparency regarding market requirements and the performance of the top brands that it evaluates.

Advantages and FAQs for brands

Your benefits

You know where you stand

What is important to retailers?

How do retailers assess you?

How do they assess the competition?

 

You know the direction it’s going in

Where are the drivers for the assessment?

What are the key levers? (e.g.: Which clients? What functions?)

What strategic measures are suitable for exploiting potential?

How must retail trade-related functions, such as key account/field representatives, trade marketing/category management, supply chain, customer service, be managed?

You know what the necessary steps are

We work with an eye on implementation.

benchex generally pays for itself after only a very few recommendations have been implemented.

 

You know if you’re approaching your goal

benchex is based on regularities to guarantee long-lasting improvements.

Frequently Asked Questions about the benchex Retail Barometer©

What is the benchex trade barometer all about?

Our approach to the benchmarking studies is multilateral, i.e.: large numbers of retailers assess multiple manufacturers. We are contracted by several manufacturers at the same time to conduct a study.

Your retail partners are asked to give their feedback about their collaboration with you and your competitors – regardless of whether we have been contracted by your competitors or not.

The assessment covers all interfaces, i.e.: all areas in which retail cooperates with industry.

The comparison of the competition calibrates your feedback and makes it more manageable than stand-alone feedback would be.

benchex analyses the data and structures it from the perspective of your company.

By applying our analyses, you can align your strategies with the requirements of the retail trade and secure optimal management of your resources in terms of the retail trade’s requirements and your relative performance.

The benchmark constitutes both your own company and your direct competitors. Not every company included in the benchmark is our client. The retailers do not know which companies in the benchmark are our clients, so their assessments can be consistently objective.

How is the questionnaire carried out?

As a rule, we notify the contacts in the retail trade initially by e-mail and then follow this up by telephone in order to clarify any unanswered questions. .

The participants complete an online questionnaire. The survey can be interrupted at any time without any loss of information. The retailers efficiently assess an entire group of their suppliers (= benchmark) with only one questionnaire.

We also conduct additional telephone interviews with some retail participants. This is so we can focus on the ratings that our clients provide us with by filling in the online questionnaire.

benchex then analyses the data and ensures that it is completely anonymous.

How much time and effort does each participant have to invest?

The participating retailers invest their time.

The study is financed by the industry – just ask us for a concrete offer.

What does it mean when you say that many brands use the Retail Barometer©?

The principle is similar to the available market share figures in that all who acquire the data will see their performance as well as that of their competition. Only by comparing your own performance with that of your competitors can you draw conclusions and devise strategies.

We prepare a brand-specific report for each client.

Each client sees its performance shown alongside that of all competitive brands.

Each client discusses the Retail Barometer©’s findings with the retailers. Retail, therefore, knows who has used the Retail Barometer© and is aware of its findings for all evaluated brands (this includes brands which are not benchex clients).

Advantages and FAQs for retail

Your benefits
  • Feedback is the first step

    So your suppliers can carry out your requirements and address their respective competitive weaknesses, you need to know their current status.

    Feedback is the first step. By offering it, you are putting your suppliers in a better position to improve.

  • It couldn’t get more efficient

    Our Retail Barometer© is used by multiple brands that are either on board from the outset or that decide to participate once the project has started. In each case, your feedback goes to these multiple brands, which also work with the results. Ultimately, these brands invest in your opinion.

    Your assessment of each brand lasts 2-3 minutes. This can take up to 20 minutes in total because we evaluate multiple brands, but… we always respect your time and continually optimise the questionnaire alongside quite a number of projects. We also only use one questionnaire to evaluate all the brands in a given category – it couldn’t get more efficient than that!

  • There can be no information leaks

    Retail participants receive their assessments directly from benchex and not through a third party. In addition, many brands work with their comprehensive, brand-specific report – this means that you will be always be informed of the findings, which, in turn, means that “poor performing” brands can’t hide their result. benchex creates transparency.

  • The benchex Retail Barometer© is a long-term initiative

    We only work in markets in which the intention is to use the Retail Barometer© at regular intervals. This makes the results sustainable.

  • Your participation is a catalyst

    Brands invest in improving their cooperation with you, their retail partners. We present the Retail Barometer’s© findings, as well as your feedback, to management in each brand. Your feedback must, therefore, not go through third parties. It is passed directly (and, of course, anonymously) to the decision makers and only used in one way – to work out what the strategies for improvement should be.

  • Your participation is voluntary, anonymous and safe

    Your contributions remain with benchex. Only aggregated and anonymous analyses are passed to the client.

Frequently Asked Questions about the benchex Retail Barometer©

What is the benchex Retail Barometer© all about?

The benchex Retail Barometer© allows the brands that use it to optimise their strategic measures based on the feedback they receive from retailers.

All brands that contract us, and the participants in retail, receive a holistic view of the market.

The brands that contract us invest in the feedback from retail and use the findings of the Retail Barometer© to set targeted strategies with their retail partners.

The aim is better marketing through more efficient cooperation between the brands and retailers.

 

Why should you take part in the benchex Retail Barometer©?

Your structured feedback goes to straight to management in the clients’ company and serves to define concrete strategies that you can also benefit from.

Your contributions are anonymous and confidential.

Your company will also be evaluated.

You can rate all the top suppliers efficiently using one questionnaire.

It only takes approx. two minutes per brand.

You give the brands the possibility to address your requirements.

 

How much time and effort does each participant have to invest?

You spend approx. two minutes per supplier filling out the online questionnaire. If we conduct a telephone interview with you, this will take a further 5-10 minutes.

It’s free for retailers to participate in the study as it’s financed by the industry.

If you prefer, just giving seven comments per brand is sufficient (you give each brand and service area, i.e.: sales, trade marketing, supply chain etc…, a grade).

You decide how differentiated your feedback is – but… the more differentiated it is, the more your suppliers can begin addressing your feedback.

How is the questionnaire carried out?

This initial Retail Barometer© information comes from the pilot brand – this is the brand which first contracts benchex to use the Retail Barometer©.

We, then, inform the persons of contact in retail by e-mail and subsequently follow this up by telephone in order to clarify any unanswered questions.

As a participant, you fill out an online questionnaire. The survey can be interrupted at any time without any loss of information.

The process is highly efficient, as you only use one questionnaire to rate all (up to 12) top suppliers in any given category.

Not every company in this group is our client.

We also conduct additional telephone interviews with some retail participants. This is so we can focus on the ratings that our clients provide us with.

benchex then analyses the data and ensures that it is completely anonymous.

The brands that contract us receive a comprehensive analysis as well as suggestions for strategic measures for improving cooperation with retailers.

These brands approach the retail participants in order to discuss the findings of the Retail Barometer©.

 

What happens to the information I provide?

Our clients are your suppliers.

They invest in improved cooperation with you.

Your contributions (raw data and, where applicable, telephone interviews) remain with benchex.