4 Ways TraQline Hybrid POS Upgrades POS Data Analytics
In today’s ever-changing business landscape, it is undeniable that data is a key driving force behind sustainable growth. And this is no exception for a consumer-based industry like durable goods.
Every customer consideration, engagement, and purchase delivers new Point of Sale (POS) data points, which subsequently creates the opportunity for better informed decision-making — all built around genuine consumer understanding.
Empowering consumer understanding through SKU data
One emerging area where POS data analytics can make a significant impact on business innovation and growth is in the durable goods industry. Historically, data in the durables and appliance industries has been hard to come by in an extensive or readily available system.
TraQline Hybrid POS™ (HPOS) entered the market to bridge that gap. HPOS is a next-generation SKU-level analytics platform, designed to give durables companies the POS data analytics they need to improve functions, optimize strategy, and elevate business growth.
Delivering product-level market share data across leading durables, outdoor power equipment, and appliance industry retailers — such as Best Buy, Lowe’s, and Home Depot — HPOS delivers unmatched data granularity on the best-selling SKUs across the outdoor power equipment and appliance industries. (Heads up: More industries coming very soon!)
Here are top four reasons businesses need competitive POS data analytics from Hybrid POS.
1. Hybrid POS Data Solves Retailer Participation Gaps
Traditional POS data providers rely on retailers voluntarily giving their POS data. While some retailers are willing to participate, participation gaps from retailers are common occurrences, leading to skewed data and an incomplete view of the market.
Alongside the difficulty of getting retailers to participate, gathering POS data from participating companies can still be challenging, as an aggregator must meet compliance and legal requirements.
Instead of relying on this inefficient and inaccurate system, Hybrid POS built a model that is completely free of retailer participation. Meaning that, unlike traditional POS data providers, the SKU data within our platform is not limited by retailers choosing to provide it. Subsequently, our SKU data is also without risk of being stripped away at the retailer’s discretion.
Visualizing POS Data
HPOS delivers our unmatched, retailer-agnostic POS data analytics through a visual and interactive analytics platform, making it accessible for your entire team, easy to filter and manipulate — and readily turned into actionable insights.
2. Hybrid POS Overcomes Traditional Reporting Limitations
Another pitfall of traditional POS data systems is the reliance on proprietary data to better understand the market and sales.
When a retailer opts into reporting for legacy POS data providers, they will control and own the data they provide. This can often lead to reporting limitations, as the retailer will set strict rules around data usage. These limitations can cause you to receive reports that are missing key models, key insights, and retailer-specific information.
Hybrid POS overcomes these traditional reporting limitations by using POS data from reliable sources that are independent of individual retailers. This data comes without limitations or restrictions, allowing for more through and comprehensive market, brand, and SKU analysis.
As an example, let’s look at how Hybrid POS overcomes a common restriction of retailer-supplier data: SKU share by retailer.
Delivering SKU share by individual retailer
Traditional HPOS data providers cannot report on individual retailer shares (e.g. Best Buy, Home Depot, Lowe’s), nor can they report on models (SKUs) that are sold at only one retailer (e.g. Best Buy-exclusive products such as Insignia). These other providers have a “rule of three” – meaning they need at least three retailers within a data set to publish it – and cannot report on anything lower.
Free of such regulations, Hybrid POS provides POS data analytics around not only what SKUs are sold across the market, but also at a specific retailer or for a specific brand.
In other words, Hybrid POS delivers market share for every SKU that is sold at the leading retailers – by retailer. Similarly, HPOS also provides data on brands, giving you actionable insights about derivative and private label models.
For example, with HPOS, you can find insights including but not limited to: 1) the percent of a product type sold by a specific retailer, 2) the amount of share won by a specific model, and most notably, 3) you can report the share of a specific model at one specific retailer, 4) SKU share by brand.
Recent POS data for OPE & appliance industry
To highlight the scope of data available through Hybrid POS, let's take a look at four recent insights from the tool.
1. Retailer share by product
In both dollar and unit share, Lowe’s earned 41% of sales for all front load washers in July 2023.
2. SKU product share
Ryobi’s #P2109BTL leaf blower was the leading model in July 2023, with 9% unit share across the three leading retailers. (Shown above, image one.)
3. SKU share by retailer
In July 2023, Craftsman’s #CMXGTAMDSS25 won 22% market share at Lowe’s — coming in as the leading gas-powered line trimmer. (Shown above, image two.)
4. SKU share by brand (+ pricing tier)
In July 2023, Samsung sold 34% of all 3-door French door refrigerators within the $1,900 or less dollar range. (Shown above, image three.)
3. Consistent Monthly Brand & Retailer Data
Due to the aforementioned reliance on retailer participation, traditional data providers always risk a retailer deciding to discontinue participation in the program.
Hybrid POS is able to deliver a consistent and retailer view of retailer and brand insights – allowing you to plan, measure, and analyze with peace of mind that the data will reflect the market without disruption from one period to the next.
To put this into perspective, let’s say your legacy POS data provider delivers data for the top four retailers in your industry. Unexpectedly, one retailers restricts access to their POS data. This would immediately impact the data available to you, as well as your analysis of the market, changing what percent of coverage you can compare and measure against.
4. HPOS Data Eliminates Transmission Errors
When you use a traditional POS system for data collection, POS data has to flow through retailers, aggregators, and customers. This unfortunately leaves open the opportunity for transmission errors to occur, due to issues with connection, timing, noise, and staffing, among others.
Errors can include anything from connections timing out, to signal distortion, burst errors, connection refusals, and many more. This can ultimately create incomplete and/or inaccurate data.
Since HPOS relies on raw data that does not pass through multiple connections, the end output delivers consistently and accurately – furthering the reliability businesses expect from our comprehensive market POS data analytics.
Empower Your Business With TraQline HPOS Data
At TraQline, we know how important accurate and accessible data is for our clients. Overcoming the limitations of traditional data providers allows us to power your business through more comprehensive, accurate, and reliable market data.
Get the POS data analytics you need to confidently keep an eye on current market trends — and elevate your business growth. Whether you want to eliminate participation gaps, utilize a more user-friendly POS system, gain deeper insights about your sales, or cut down on transmission errors, HPOS is the system for you.
Learn more about TraQline HPOS today. If you have any questions or want to start using HPOS data at your business, please contact us below.
Consumer Durables Market: 2023 Mid-Year Review
Are you monitoring the durable goods industry for growth and market changes?
TraQline is proud to deliver comprehensive product research and market data to help keep you informed, whether you’re looking to optimize your product matrix or track consumer market trends. Our 2023 Mid-Year Review of the consumer durables retail industry has led to notable insights. Discover them below.
Now available: Jump to the 2023 full year market report download.
Recent Consumer Durables Retail Sales Data
The U.S. Census Bureau recently released a report showing a third consecutive month of significant increase in orders for durable goods. According to the census report, orders for durable goods saw an overall increase of 2.3% in May. Product specific highlights include:
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- Electrical equipment, appliances & components: 1.7% increase
- Other durable goods categories (furniture, mattress, OPE, etc.): 0.6% increase
- Computers & electronic products: 0.3% increase
Additionally, the Census Bureau more recently reported a fourth consecutive month of growth for retail sales.
Specifically, in July 2023, retail sales experienced a 0.7% increase, which also marked a 3.2% increase year-over-year. As highlighted by Forbes, this growth came in “well above expectations” and may highlight a decrease in the likelihood of a full recession.
Is an increase in durables orders a sign of economic growth?
Often, yes. By analyzing decades of comprehensive market data, we’ve determined that, given the longevity of durable goods products, an increase in orders can be a positive sign for the economy.
When more confident about the future, businesses and consumers are more likely to invest in big-ticket items such as appliances, furniture, computer equipment, and other durable goods products. This, in turn, can subsequently help to stimulate economic growth and create jobs.
Review TraQline’s research insights to discover other market trends.
2023 Mid-Year Report
Durables Market Trends & Retail Sales Data
Monitoring change within the consumer durables retail market industry does not stop at increases in sales.
Growth statistics are an inarguably valuable metric. However, to truly understand the impact of market shifts, we also need to understand our consumers, their preferences, and how that feeds into any increase or decrease in share.
To this end, TraQline recently released our 2023 mid-year market review, which highlights the current state of the industry.
Delivering a glimpse into our comprehensive market coverage, our 2023 mid-year report includes insights on everything from brand winners by industry to top retailers, online vs. in-store share, consumer demographic insights, average price paid shifts, and more. Download the report now – or keep scrolling to check out 10 exclusive high-level takeaways on the consumer durables retail market share.
Key Takeaways: 2023 Durables Market Mid-Year Review
1. As of June 30, 2023, the leader of the consumer durables retailer market share was The Home Depot, leading across four of the top 10 durables product categories tracked in Durable IQ™. Amazon was the top retailer for three product groups.
2. In the first half of 2023, Lowe’s held second place in durables retailer market share across four product categories.
3. Brand winners vary by industry and product category, with top brands like GE, Kohler, and Peloton taking the lead in their respective areas for the first six months of 2023.
4. Online sales are showing signs of leveling off at the end of Q2 2023, with only one percentage point gain versus the same period in 2022 (Q1 + Q2). The largest online sales increase over the past five years for the same period took place between 2019 and 2020.
5. In the first six months of 2023, sports equipment saw the highest percentage of online vs. in-store sales when compared to any other Durable IQ product category.
6. As of June 30, Amazon’s share in consumer durables has grown 5 percentage points since the second half of 2018 (Q3 + Q4).
7. Sports equipment, small appliances, and consumer electronics were the top three product categories sold on Amazon during the first half of 2023.
8. Major appliances saw the highest average price paid across key Durable IQ categories, with wall ovens as the product with the highest average price paid within this category.
9. Cell phone and consumer electronic purchases tend to have lower income buyers versus sports equipment, where consumers had higher income.
10. In 2023 so far, a higher percentage of baby boomers purchased kitchen & bath, home improvement, and lawn & garden products than any other generation, while a higher percentage of millennials purchased sports equipment.
Monitor your market with TraQline
The durables market is ever-changing. With each technological advancement and shifting consumer preference we see a corresponding change within the industry. Stay ahead of these changes, find a competitive edge, and drive sales growth with total market insight. To see how TraQline can help or request specific 2023 midyear insights, contact us today.
Get the 2023 FULL YEAR report — now available!
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Windows & Doors Industry: Best Brands, Market Share, Retail Sales Data, & Trends
Windows & doors represent a notable share of the US home improvement industry’s profits, and accurate insights here can go a long way predicting future product and business success.
Do you know what window and door brands consumers are buying most, where they are buying them, and what drives their purchase decisions (aka the why behind the buy)? Find out these answers and more below — and download our free US windows and doors industry infographic for even more actionable market insights.
Source: All data in this article was pulled from the OpenBrand MindShare platform using the rolling four quarters period ending March 2023, US Windows/Doors category. For the most recent insights or further dives into the data, please contact us.
Who leads U.S. home improvement market share in the windows and doors industry?
Windows & Door Market Share by Retailer
As of March 2023, The Home Depot continued as the leading retailer for windows and doors, winning 27%-unit share — which was an increase of almost 1 percentage point after a drop of 1.4 points in March 2022 (rolling 4Q).
Lowe’s was the second top-selling retailer for windows and doors with a 20%-unit share. However, Lowe’s was down significantly (about 2 points) in March 2022 (rolling 4Q).
Additionally, retail sales data insights demonstrate continued growth for specialty windows & door industry stores:
- While owning a much smaller segment of the market than the top home improvement players, at 14%-unit share window/millwork specialty stores cumulatively saw a significant increase during each of the past three years.
- Despite their smaller unit share, window/millwork specialty stores hold the lead in dollar share (37%) with a 20-percentage point advantage over the second highest dollar share leader (Contractors, with 17%-dollar share).
- Specialty stores in the windows and door industry are not only winning most of the market, but they are also seeing a significant gain! Versus the previous year, window/millwork specialty stores enjoyed a 5-percentage point increase.
Windows & Door U.S. Home Improvement Market Share by Brand
As of March 2023, the leading brand for windows and doors was Andersen, with 10%-unit share, continuing a 5-year lead over all other brands. Andersen also owns the market in dollar share at 17%, which reflects a rebound of 2 percentage points after a 3-point drop versus the same time prior year. Other top brands in the windows and doors space include Pella, Window World, Milgard, and Jeld-Wen.
How much do consumers spend on windows and doors?
As of March 2023, our retail sales data has indicated the industry average price paid for windows and door was $1,730, up almost $400 versus the same time in 2022.
Why are consumers spending more on doors and windows?
This rise in industry cost was mostly due to a significant rise in average price for window and millwork specialty stores – which also drove the significant increase to its dollar share and won them the market, as discussed above.
Average price paid for specialty stores, as well as through contractors, are historically higher than the industry average ($4,510 and $2,162, respectively). This was likely due to project size. Alternatively, at big-box stores like Home Depot ($691), Lowe’s ($667), and Menards ($523), consumers historically enjoy significantly lower than industry average prices. Again, this was likely due to the purchases going toward smaller project sizes, such as routine maintenance or minor repair, resulting in fewer products purchased.
What demographic buys the most windows and doors?
Durable IQ’s census-balanced respondent pool delivers consumer demographic insights for the windows and doors industry.
As of March 2023, demographics for windows and doors buyers include:
- 86% of consumers, across all outlets, own their own homes
- 93% of purchases at specialty stores were made by homeowners
- 61% of buyers are married
- 60% of purchases have a female involved in the purchase decision
- 42% of shoppers have a household income of $100,000 or more
- 64% of buyers are aged 55+
How are online sales trending for the windows and doors market?
As of March 2023, in-store remains the most popular retail channel for window and door sales, with consumers purchasing in-store 51% of the time.
Despite this popularity, sales were down about 3.5 percentage points from the time the previous year after a slight increase for in-store window and door sales in March 2022 (rolling 4Q). Correspondingly, online sales of windows and doors saw a slight increase of 0.5 percentage points following a significant decline of 2.5 percentage points in March 2022 (rolling 4Q).
Other key U.S. home improvement market insights on doors & windows retail sales data
Durable IQ delivers a comprehensive view of the windows and doors industry — from share insights to purchase drivers. Here are a few other key insights on the bathroom fixtures market as of March 2023:
Purchase drivers:
- As seen in previous years, “competitive price” remains the top reason for retailer purchase
- “Competitive price” (39%) and “appearance” (33%) are the most mentioned reasons for brand purchase
- 60% of all windows and doors are purchased as a “replacement of existing”
Draw/close rates: Home Depot continues to lead other major retailers in outlet draw (45%) and outlet close (60%). Lowe’s falls behind Home Depot in both draw (39%) and close (52%).
Number of outlets shopped: In 4Q ending March 2023, 55% of all purchasers shopped at only one outlet. Of the top retailers, Home Depot has the highest incidence of only shopping one outlet (56%). However, those purchasing from a window/millwork specially stores or through a contractor are much more likely to have examined only one product source – 65% and 63% respectively.
Get total U.S. home improvement market insight for doors and windows
For more retail sales data, market share, and insights on U.S. home improvement market, download the OpenBrand-exclusive infographic below. To see the insights for other industries or find out how we can help power growth for your business, contact us today.