Wholesaler Cotswold Fayre is set to launch a new sales reporting service called ‘CoFI’ (Cotswold Fayre Insights). This is claimed to be the first intelligent data system for the speciality food retail sector, which is a small part of the food and drink landscape but growing rapidly.
The company noted that suppliers will soon have the opportunity to access their brands’ sales performance by different customer type over several time periods to help them build category plans for future sales growth. The initiative is being launched in partnership with wholesale data consultancy, TWC Group.
Cotswold Fayre stated that it wanted to allow suppliers to see how they are performing within the categories they compete in order to collectively identify opportunities to grow sales further.
Suppliers will be able to track their category and brand sales over multiple time periods (4 weeks/13 weeks/year to date/moving annual total) as well as by region and outlet type. There are two years of back data in the service, so suppliers will be able to spot growing trends.
The data will be accessed via TWC’s digital reporting solution – which works on any type of mobile/digital device. The data is reported in a highly visual manner – key data facts are easily identifiable.
Paul Hargreaves, CEO of Cotswold Fayre, commented: “We are delighted to be working in close partnership with TWC. They are the leaders in data services for wholesalers across the UK and by working with them we will be able to give insights on category and product sales within the artisan food retail sector that I don’t believe has ever been available previously.
“This will benefit our suppliers, who will be able to measure and improve their performance in different retail sectors. Our category and sales team will also be able to provide customers with far more insight than ever before, ensuring we are helping drive their sales harder. It’s a win-win for everyone!”
Tom Fender, Development Director of TWC Group, added: “We are excited to collaborate with Cotswold Fayre in bringing innovative data solutions to the food and beverage industry. By combining our expertise in data analytics with Cotswold Fayre’s deep industry knowledge, we are poised to deliver significant value to partner suppliers seeking to harness the power of data to drive growth and innovation.”
