Tobacconists’ Association of America, LTD Launches New Tool to Aid Growth and Improvement of Retail Members’ Operations
Windham, NH, June 16, 2015 - Dynamic Benchmarking, a provider of customized online benchmarking and reporting solutions, is pleased to announce the recent launch of TAA Insights, a retail financial benchmarking study for the Tobacconists’ Association of America LTD (TAA). This comprehensive, interactive study collects and compiles key financial and operational data of premier retail cigar shops to assist in the success of their operations and in the future growth of the industry.
Today, tobacco retailers face significant challenges as they strive to grow their businesses. The TAA wanted to develop a tool to help individual member businesses improve their operations and advance the premier cigar business as a whole.
In recent years, a retail financial survey was manually conducted in person at TAA’s annual conference. However the data collected was spotty and inconsistent, providing little benefit to the members in helping them grow and improve their operations. Further, members did not have confidence in the accuracy of the figures nor the comfort that their information would remain confidential.
“Retailers were reluctant to share confidential financial data in a public forum surrounded by their competitors and manufacturers,” says Dynamic Benchmarking Project Manager, Lisa Haswell. “They needed a tool that provided anonymity and data security along with consistent, reliable metrics and easy to use reporting.”
As an objective third party with significant expertise in benchmarking, Dynamic Benchmarking developed just such a solution. The new TAA Insights provides secure login to a dynamic, online survey that collects financial and operational data points from members using clear and consistent metrics.
“Because of the diversity of their members, collecting consistent data had traditionally been difficult,” continues Haswell. “We worked with the TAA Board to define clear data metrics that would be applicable across all members. We also instituted a process to assure members that their data would remain private.”
Currently, access to TAA Insights is available, free of charge, to TAA members.
ABOUT THE TOBACCONISTS' ASSOCIATION OF AMERICA, LTD.
The Tobacconists' Association of America, Ltd. (TAA) is a trade organization established in 1968 by visionary retail tobacconists. By providing education, communication, research, advocacy, and member discount programs, The TAA works with our members and the industry they support to offer the tools and relationship building opportunities needed to maximize professionalism and success. For more information, please visit www.thetaa.org.
ABOUT DYNAMIC BENCHMARKING
Dynamic Benchmarking is a New Hampshire-based startup that delivers real-time benchmarking and data analysis solutions with the features and capabilities of custom software in a format that is easy to use and quick to deploy. Founded by a team of women entrepreneurs, Dynamic Benchmarking combines powerful, web-based technology with unparalleled industry expertise and customer care to provide best-in-class, peer-to-peer data comparison for small business, associations, large enterprises and any organization looking to tap into the knowledge of the crowd. Dynamic Benchmarking builds web-based solutions that are flexible, scalable and allow for meaningful comparison of financial and operational performance in a dynamic and interactive manner. For more information, please visit www.dynamicbenchmarking.com.