The practice of using objective retail sales data to make better business decisions has been around for decades, but only in large ‘mass market’ product categories. By the 80’s, the consumer electronics and photo industries had adopted this technology, and in the 90’s the same type of service was introduced for the recorded music business. For over ten years now, MI SalesTrak has been providing this powerful business tool to the musical products industry.
MI SalesTrak facilitates the process of collecting and analyzing retail sales data, while protecting the confidentiality of each participant’s individual information. Retailers forward their monthly sales and inventory data to MI SalesTrak, an independent third-party market research service. Because of the flexibility of our operating systems, almost any electronic data format is acceptable for processing. After cleaning and organizing the data, MI SalesTrak compiles national reports of market activity. The reports reveal sales and inventory trends by product category, by brand within category, and even for individual models. And because MI SalesTrak reports are compiled on a monthly basis, the information is always fresh and available to help make better business decisions.