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Sri Lanka's first supermarket tracker to monitor shopping parameters

24 Oct 2020

SRL unveils SuperTrak to monitor shopper parameters Retail today is being shaped by the empowered customer, who demands convenience, customisation, collaboration, and consistency. One of the key ways for retailers to address this demand is by becoming more data driven. Relying on retail analytics and hard data rather than guesswork enables retailers to make smarter decisions toward higher profits, better customer satisfaction, and a more successful store overall. This has become the trend globally, with retailers in countries like the UK and the US employing retail analytics in order to get insight into how well marketing is working, what customers actually do when they enter a store, and whether there is an end result to their visit, such as a sale. Sri Lankan retailers are now given this same opportunity to become more data driven, thanks to Survey Research Lanka (SRL), which relaunched SuperTrak, Sri Lanka's first-ever supermarket tracker to monitor shopper parameters. This relaunch happened during the research and consultancy firm's 31st anniversary, at which time they also unveiled the revamped SRL website with a new and improved data-driven site, a new standalone platform for the existing SRL NewsTrak which tracks all TV, print, radio, and digital news and SRL CosNet which helps assess the effective and efficient use of above the line (ATL) marketing budgets. SRL SuperTrak acts as a comprehensive system to track information related to modern trade retail business; a collective report management system to know the consumer and product-related data in Sri Lankan supermarkets. [caption id="attachment_102479" align="alignleft" width="251"] SRL CEO Mihirani Dissanayake[/caption] Speaking to The Sunday Morning Business, SRL CEO Mihirani Dissanayake stated that SRL SuperTrak was the first of its kind in Sri Lanka, and was first initiated by the organisation in the late 2000s . She explained that since then, their services have been used by several big name brands, whose data they keep private. The system uses the invoices collected from an immense number of households around Sri Lanka as the primary data source to generate the reports. The panel of consumers span across all the Social Economic Classification (SEC) classes of Sri Lanka, which is a classification using parameters such as the occupation and highest education of the household's main wage earner. The organisation has currently collected more than 6,000 bills a month and gives at least 80,000-100,000 entries of purchase history. Every product in the supermarket display is captured this way, and makes them achieve more than 95% accuracy. "We are currently working with around 800 households who send us 75% of their purchase data, so that we can create a clearer picture for our clients,” said Dissanayake. When looking at what percentage of consumers are purchasing a certain brand, SRL SuperTrak expresses it as a percentage of consumers who purchased a particular brand’s product, compared to the total consumers who purchased the particular category of the product; for example, if 45% of shampoo buyers from supermarkets are purchasing company ABC’s shampoos bearing the brand name of “XYZ”. If Fast-Moving Consumer Goods (FMCG) manufacturers want to know what percentage of shoppers buy the category of products they produce, the system expresses it as a percentage of consumers that purchased a particular product category, compared to the total shoppers. It showcases the volume share of a company's product by showing the percentage of a brand’s purchased weightage compared to its category’s consumed volume. Moreover, a product's value share is expressed as a percentage of a brand’s purchased market price compared to its category’s consumed price. SRL SuperTrak also gives the volume and value-wise percentage of product brand movement at each supermarket chain and represents the number of families buying at a supermarket. This data also includes the spending power of the consumers towards the respective company's brand. Retail analytics tools such as SRL SuperTrak provide invaluable insight to retailers and retailers need them to thrive in the future and make data-driven decisions.    

Kapruka

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Automobile, Mother and Baby Products, Clothing, and Fashion. Additionally, Kapruka offers unique online services like Money Remittance, Astrology, Medicine Delivery, and access to over 700 Top Brands. Also If you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.Send love straight to their heart this Valentine's with our thoughtful gifts!

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Automobile, Mother and Baby Products, Clothing, and Fashion. Additionally, Kapruka offers unique online services like Money Remittance, Astrology, Medicine Delivery, and access to over 700 Top Brands. Also If you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.Send love straight to their heart this Valentine's with our thoughtful gifts!


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