It’s a year full of new insights and improved industry awareness for members of the Global Mark¬¬et Development Center (GMDC), a trade association dedicated to serving General Merchandise and Health Beauty Wellness retailers, wholesalers and suppliers. GMDC members now have full access to the much anticipated GM Hierarchy available in the member-only myGMDC website.
The GMDC / Nielsen GM Hierarchy was created in a cooperation between GMDC and Nielsen as a tool that tracks and creates visibility to important sales information by product in the General Merchandise categories that was previously unavailable to the industry in a convenient, consolidated and easy-to-follow format. Throughout the course of the project more than 800 syndicated reports were built and Nielsen coded over 20 million UPCs making it possible to consistently code and follow all GM products in the grocery channel.
“The intent of the study is to advocate for General Merchandise by presenting the facts related to GM, the interpretation of those facts, and key insights that will allow both retailers and suppliers to take full advantage of the enhanced contribution margin and consumer loyalty associated with executing a comprehensive GM program,” stated Tom Duffy, VP Industry Services, Consumer Group, Nielsen.
The GM Hierarchy organizes and quantifies GM category data in order to increase marketplace performance and provide better understanding of the GM categories. There are 18 major categories identified and defined as ‘Level 1′ in the GM Hierarchy including – Apparel, Baby, Candy, Electronics & Personal Entertainment. Each ‘Level 1’ category is then divided further down the scale based on its level of detail. This organizational structure offers retailers the ability to gauge channel activity and sales trends in the GM industry while only having to search a single resource.
During the development of the GM Hierarchy in 2013, a panel discussion was hosted at the Fall GMDC General Merchandise Conference to discuss how this new tool will enhance business. Cheryl Taylor, Director of Retail Merchandising at Kinney Drug was part of that discussion, and expressed how the GM Hierarchy will help Kinney Drug.
“We’re really interested in getting to know who the consumer is, what they’re looking for, what they’re shopping for, and what their shopping behaviors are,” says Taylor. “These reports are going to help us get to where we need to be in various categories. We have to make sure that we offer the products that everyone is looking for.”
Bill Anderson, Group VP of Drugstore, Beauty, GM, Floral and Services at H-E-B, also considers the GM Hierarchy an essential tool for H-E-B.
“This will be the most valuable resource and useful tool to organize our GM and HBW aisles than we’ve ever had before. The collaboration and output between GMDC and Nielsen will quickly become an application our buyers will constantly refer to,” said Anderson. “The cost of such a program will pay dividends and change the way we see our business – the best part is that these reports are already part of our membership with GMDC!”
To access the GM Hierarchy, GMDC members can log into their myGMDC account and visit the Services Center. If you are not a GMDC member but are interested in knowing more about the association and joining, please visit http://gmdc.org/index.asp?w=pages&r=1&pid=62 or contact Keith Wypyszynski (firstname.lastname@example.org) at 719.785.7367.
A GMDC Whitepaper that provides an overview of the GMDC / Nielsen GM Hierarchy is available at http://gmdc.org/index.asp?w=pages&r=422&pid=328 . The full version of the whitepaper is available to GMDC Members in the myGMDC Content Library. You can also watch a videocast Business Session, hosted by Todd Hale, SVP Consumer & Shopper Insights at Nielsen, from the GM13 Conference on www.GMDCconnect.org in the archive video page (http://www.gmdcconnect.org/#!archived-videocasts/cvo5).
GMDC will be hosting a free GMDC*Connect videocast presented by Stuart Taylor, VP Custom Analytics at Nielsen, to demonstrate to GMDC members how to utilize the sales data provided by the GMDC / Nielsen GM Hierarchy benchmarking tool. The videocast will be available for public viewing, and is set to run on Thursday, March 27, 2014, from 1:00 p.m. to 1:45 p.m. ET. Register for the video here http://www.gmdcconnect.org/#!videocast-schedule/c1mzo.
The Global Market Development Center (GMDC) is the premier global trade association dedicated to serving General Merchandise and Health Beauty Wellness retailers, wholesalers and suppliers. GMDC promotes critical connectivity to grow and expand member companies by uniting members through business building events and opportunities and enriching their thinking through education and training; consumer and business insights; and information resources.