Wholesale buying group Confex has partnered with data and digital specialists TWC to launch a new sales data reporting service for its members.

The two firms stated that the new service aims to provide insights to both Confex’ members and suppliers in order to help them understand market influences, accelerate growth, and monetise opportunities from the group’s sales data. It is scheduled to go live in April 2021.

According to Confex’s Marketing & HR Director, Jess Douglas, the partnership is an important component in the buying group’s drive to deliver advantage and forward-thinking to its 213-strong member base, which has a collective turnover of over £2.16bn.

“The value of data is increasingly being recognised pan-industry, and we believe there is immense value to be gained from harnessing information in a way that is easily usable by our members,” she said.

“Our aim is to furnish stakeholders with a reliable read on what is happening across wholesale and individual supply categories based on fact, not hearsay!”

Douglas added: “As a forward-thinking buying group, we’re looking to drive change whilst adjusting to what’s happening in the broader economic climate as members seek new revenue streams.

“How data is used in terms of its application into digital and marketing strategies is at the forefront of our thinking – our approach is mirrored by our members, many of whom have pivoted into B2C hybrid models over the last year. Knowing your customer is an absolute imperative.”

Tom Fender of TWC stated that intelligent insight and customer knowledge are arguably the most powerful things that wholesalers hold within the fabric of their business, and which until now have been under-utilised in many instances.

“Right now, industry forces are changing at a speed that even a year ago would have been unthinkable,” he said.

“The way we receive information is also changing through smart technologies – the new Confex Data Service will be accessible through familiar smart technologies that we all use every day, and users will be able to access information any-time, any-where, 24/7 – whether on phone, tablet or PC.”

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