GAPs are products that are not available in our product range, but are in demand by the market.
The discovery of gaps within product range management is fundamental for the growth and sustainability of a company. This process offers us several benefits:
Improved operational efficiency.
Improved customer service.
Improved competitiveness against other competitors.
Increased sales.
To identify gaps in the vehicle spare parts sector, it is essential to understand customer needs. This is achieved through reliable and accurate knowledge of demand. Since there are hundreds of thousands of products in this sector, detecting gaps is only the first step. Next, it is necessary to estimate the sales potential of these gaps, considering that one of the main challenges is the obsolescence and low turnover of many products.
In order to estimate and measure market demand for new products, we have different strategies:
Market research, talking to customers to understand their needs.
Competitor analysis, to find out what new products are being launched on the market.
Analysis of VIO data (vehicles in operation) to find out the future potential of maintenance or wear parts.
Analysis of relevant distributors or manufacturers, to analyse their product ranges.
Trend analysis, based on demand data (not sales!) that we have.
Today, Big Data and artificial intelligence tools can help simplify this analysis process and, above all, be much more efficient when it comes to detecting GAPs with the greatest sales potential and saving time on research and analysis.
Discovering gaps process should be carried out on an ongoing basis to allow for the incorporation of new products every month.
If you want to know how wholesalers, distributors and manufacturers of automotive spare parts optimize products assortment in a very simple and fully automatic way, based on the analysis of market demand, do not hesitate to request a free DEMO of our NEO system solution.
