MIAMI — Navarro Discount Pharmacy has enlisted technology provider SONA LLC to develop a web-based portal to enable point-of-sale and market basket data reporting to suppliers.
The Miami-area drug store chain said Thursday that plans call for SONA to provide a dashboard-driven data management solution, and the program will be presented to vendors and suppliers at the retailer’s Vendor Summit on Oct. 8.
"We believe that the depth of data sharing that Navarro intends to release together with our partner SONA will set new standards with respect to retailer and supplier collaborations," Navarro chief executive officer Steve Kaczynski said in a statement.
With the user-friendly dashboard solution, suppliers will be able to look at each category and see the key sales drivers, according to Navarro. Custom product hierarchies and store clusters also will allow suppliers to view the data in ways that will maximize insights and drive sales, the drug chain added, noting that in these difficult economic times it’s vital for retailers and suppliers to collaborate on strategies and share knowledge.
"As a Hispanic-centric retailer, we are committed to understanding our customers and their buying needs within every market we serve. In turn, our partnership with SONA will give our suppliers the tools needed to unlock the potential of this underserved market," commented Jose Alvarez, vice president of merchandising at Navarro, which has 28 stores. "We want our vendors to know and understand ‘Hispanic’ at the same level we do."
Navarro said the portal also will enable suppliers to see how their products influence the shopper’s market basket in a level of detail that will assist in uncovering opportunities for growth.
