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Sixty-one percent (61%) of companies are overspending on promotions BOSTON, MA – October 4, 2007 – The recent research report “Plan, Spend, and Prosper: Making the Most of Trade Promotion,” published by Aberdeen, a Harte-Hanks company (NYSE: HHS), surveyed more than 250 companies to reveal that 61% of companies have reported overspending on trade promotions when compared to the trade budget allocations. Aberdeen data revealed that one of the chief reasons for the overspend is the fact that 70% of consumer product and food service companies are still using fragmented spreadsheets, assumption-based trade plans, and legacy systems to develop trade promotion plans. These practices are leading poor forecast accuracy across different retail channel formats and high trade overspends. |
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“As a solution to the trade promotion problems of these companies, Aberdeen data indicates that companies want to integrate and upgrade their trade promotion solutions as a way out,” says report co-author and retail analyst, Sahir Anand. “Specifically, 51% of companies want to transition towards the integrated TPM solutions as the top strategic action to improve trade promotions,” says Anand. |
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According to report co-author and Supply Chain research director, Nari Viswanathan, “More than half of companies are striving to build enterprise and best-of-breed multi-tenant solution capabilities to improve the cross-enterprise visibility, data utilization, and internal-external collaboration around trade promotions.” |
Aberdeen research shows that trade spending efficiency is a huge hot button for consumer goods, food service, and the retail industry. In order to excel in this area, they must realize where they are in the maturity level with respect to their IT capabilities. Companies must succeed in the previous stage before going to a more advanced stage – for instance companies that do not have a strong transaction backbone should not attempt to deploy predictive analytics solutions.
This report is made available due in part by the following underwriters: Hitachi Consulting, SAP, and CAS. To obtain a complimentary copy of the report, visit: http://www.aberdeen.com/link/sponsor.asp?cid=4166
About Aberdeen Group, a Harte-Hanks Company
Aberdeen is a leading provider of fact-based research and market intelligence that delivers demonstrable results. Having benchmarked more than 30,000 companies in the past two years, Aberdeen is uniquely positioned to educate users to action: driving market awareness, creating demand, enabling sales, and delivering meaningful return-on-investment analysis. As the trusted advisor to the global Technology markets, corporations turn to AberdeenTM for insights that drive decisions.
As a Harte-Hanks Company, Aberdeen plays a key role of putting content in context for the global direct and targeted marketing company. Aberdeen's analytical and independent view of the "customer optimization" process of Harte-Hanks (Information – Opportunity – Insight – Engagement – Interaction) extends the client value and accentuates the strategic role Harte-Hanks brings to the market. For additional information, visit Aberdeen http://www.aberdeen.com or call (617) 723-7890, or to learn more about Harte-Hanks, call (800) 456-9748 or go to http://www.harte-hanks.com.
About AberdeenGroup, a Harte-Hanks Company
Aberdeen is a leading provider of fact-based research and market intelligence that delivers demonstrable results. Having benchmarked more than 30,000 companies in the past two years, Aberdeen is uniquely positioned to educate users to action: driving market awareness, creating demand, enabling sales, and delivering meaningful return-on-investment analysis. As the trusted advisor to the global Technology markets, corporations turn to AberdeenTM for insights that drive decisions.
As a Harte-Hanks Company, Aberdeen plays a key role of putting content in context for the global direct and targeted marketing company. Aberdeen's analytical and independent view of the "customer optimization" process of Harte-Hanks (Information – Opportunity – Insight – Engagement – Interaction) extends the client value and accentuates the strategic role Harte-Hanks brings to the market. For additional information, visit Aberdeen http://www.aberdeen.com or call (617) 723-7890, or to learn more about Harte-Hanks, call (800) 456-9748 or go to http://www.harte-hanks.com.
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