By Lance Muzslay, RIA Board Member
Optio Owner & Sole Sports Running Zone Co-owner

As a retail RIA member, I believe there are substantial benefits to sharing our inventory and sales data with brands either directly or via a third party such as Upper Quadrant and Sports Marketing Surveys. A quick disclaimer: I am not referring to customer data associated with sales. I’ve never been asked for such data and I trust that it would never be shared by the aforementioned third parties.

A critical thing that we expect from our brands is having adequate inventory but not excessive inventory. Like many things in life, balance is key. It’s terribly painful when we are unable to get enough inventory from a brand and end up missing sales. It’s also painful when we find other channels flooded with a discounted prior version of a shoe because they were overproduced. I trust that brands dislike both situations as much as we do and try very hard to avoid them. The best way they can avoid both is by more optimally planning their production, and that heavily hinges on getting good data from the retail marketplace. If I expect brands to deliver an optimal inventory flow, then I feel that I have a duty to help them in that endeavor by feeding them critical data.

On a smaller and more immediate scale, I also see value in our sales reps having access to the sales and inventory data for the brands they represent. That helps them to be more engaged and support our stores. Traditionally sales reps have only received such data upon requesting it from an owner or manager. While that is better than nothing, a novel approach taken by Optio is a feature in which stores can grant access to reps for sales and inventory reports for only the brand(s) they authorize. Thus, sales reps can see in real time how their brands are performing without burdening anyone to send them reports. That fosters better sales rep engagement and support.

Taking things a step further, I have seen initiatives in which a brand and retailer agree to certain inventory levels and then the brand takes ownership in replenishing that inventory. The retailer gets a win by not having to spend time buying for that brand, and the brand gets a win by ensuring sales are not missed due to lack of inventory. Such a scheme would best benefit smaller stores who struggle to have an efficient buying process.

Ultimately, I think retailers are served best when they view their data with a spirit of openness and as a resource to help their brands better support them…a virtuous circle if you will, and an essential element for the continued growth and competitive market success of the run specialty channel. 

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