What IRI Customers Are Saying
"At Dr. Oetker, we believe that quality is the best recipe. It is our belief that recent developments within IRI have served to improve both the quality of data and the quality of providing this data. As a relatively new business to the U.K., Dr. Oetker was looking for a data solution that provided accurate, impactful and relevant insights but, more importantly, would deliver a proactive approach to the relationship. "
Peter Franks
Managing Director
Dr. Oetker
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Press Releases
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3/24/2009
IRI Expands Shopper Marketing Practice Capabilities to Empower CPG Retailers to Drive Improved Shopper Marketing and Loyalty
New IRI Shopper Marketing Suite™ and IRI Loyalty Advantage™ Capabilities Provide Integrated Consumer Segmentation Framework for Shopper-Centric Business Decision Making, Enhanced Collaboration and Improved Performance
LAS VEGAS, March 24, 2009 - Today's consumer packaged goods (CPG) retailers and manufacturers must truly understand the shopper to drive success in this very challenging economic and complex competitive environment. However, discovering shoppers' wants and needs is challenging, as loyalty and transactional shopper data remain among the most untapped assets within today's retail organizations. To help retailers uncover these critical insights, Information Resources, Inc. (IRI) today expanded its growth agenda of creating enhanced shopper marketing capabilities with the unveiling of the IRI Shopper Marketing Suite™ and IRI Loyalty Advantage™ solutions and supporting services.
These new solutions bring together data and insights from disparate sources to enable the next generation of analytical insights and collaboration capabilities. IRI is helping CPG retailers and their manufacturer partners to better understand their most valuable customers through advanced shopper analysis, rich and innovative content and enabling technology to facilitate a new level of dialog and action about shoppers. This announcement was made at the "Summit 2009: Reinventing CPG and Retail Conference" being held at the Wynn Las Vegas.
"Today's retailers require fast and insightful answers to a host of questions about their shoppers, such as who they are, what they buy, why they buy a particular category or brand, how loyal they are to an individual retailer and many more," said IRI Consumer and Shopper Insights President Robert I. Tomei. "There is a massive untapped opportunity to help retailers understand and improve shopper loyalty and shopper marketing activities. We are committed to delivering the full complement of capabilities required to solve these critical business issues."
Shopper Marketing Suite Provides Holistic Shopper-Centric Approach
IRI's Shopper Marketing Suite is a holistic solution to define and implement enhanced shopper strategies. The solution relies on a collaborative process to develop an integrated segmentation framework that is customized for each retailer's business and is delivered via user-friendly platforms for sharing insights across the entire organization and communicating directly with trusted vendor partners. IRI Shopper Marketing Suite helps retailers take the first steps to becoming a truly shopper-driven organization by incorporating and productionizing the following areas:
- Customer Segmentation: obtain deep insights on the most important characteristics that define shoppers, their behavior and the influencers of that behavior
- Trip Missions and Opportunity: understand the unique components of each shopping occasion and determine why shoppers buy a particular category and select a product based on channel preferences, motivators and individual shopper requirements
- Store Clustering: enable the grouping of stores with similar shopper segments to drive improved assortments, space allocation, promotion and pricing strategies
- Localized Assortment: execute a shopper strategy at the local and neighborhood level using scenario-based planning to generate the most efficient assortments based on store clusters
- Localized Pricing: identify very price sensitive shoppers and items for pinpointing price reductions, thereby reducing costs and driving both share and volume gains
- Shopper Promotion: target shoppers who are the most or least responsive to promotion, enabling improved promotional targeting to drive margin, volume, and share gains
"The economy is forcing retailers to totally rethink the way they address the needs of their most important shoppers and focus on the 'zero moment of truth,' which is the moment at home when the shopper is reviewing the weekly ad insert, making their list, and, for once in their life, sticking to it," said IRI Global Retail President Tom Peterson. "It's a completely new game now. Retailers that understand the new rules and concentrate on delivering a new shopping experience—one that is rewarding on what truly matters to their loyal shoppers today—have the opportunity to reset the rules of competition and win."
IRI Loyalty Advantage Drives Shopper-Centric Planning and Execution
IRI Loyalty Advantage Powered by IRI Liquid Data™ integrates advanced analytics with the retailer's frequent shopper program data to deliver comprehensive, decision-specific insights that support retailer and manufacturer collaboration using shopping basket and customer-level transactions. Leveraging a series of scorecards, best practice analyses, and ad-hoc reporting capabilities, retailers can address the most important marketing, merchandising and operation decisions using rich, deep insight into the specific shoppers driving their business.
IRI Loyalty Advantage provides a multi-dimensional 360 degree view of the shopper base enabling executives to:
- See varying traffic and spending patterns by shopper segment and tailor actions to reinforce shopper strategies
- Track effectiveness at store level or store clusters, identifying and quantifying opportunities
- View granular product performance and execute the most relevant merchandising and marketing
- Follow performance down to date, weekday, and hour to execute on retailing best practices
- Understand differences in shopping behavior for retailer-specific trip missions
"Today's progressive CPG companies require increased speed-to-insights, power and flexibility from their information solutions," added Tomei. "Innovators that harness and apply this information to their products and retail environments gain the opportunity to increase customer loyalty, revenues and market share despite today's difficult economic environment."
About Information Resources, Inc.
IRI is the world's leading provider of consumer, shopper, and retail market intelligence and insights supporting 95 percent of the FORTUNE Global 500 consumer packaged goods (CPG), retail and healthcare companies. Only IRI offers the unique combination of integrated market information, automated and predictive analytics, innovative enabling technologies, and domain expertise. With IRI, leading retailers and manufacturers are able to quickly discover breakthrough insights driving smarter decisions and actions across the enterprise for breakthrough results. Companies around the world depend on IRI for improved productivity, stronger brands, and dramatic revenue growth. For more information, visit: http://us.infores.com.
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IRI CONTACTS:
John McIndoe
E-mail: john.mcindoe@infores.com
Phone: (312) 474-3862
Fax: (312) 726-1091
Shelley Hughes
E-mail: shelley.hughes@infores.com
Phone: (312) 474-3675
Fax: (312) 726-1091
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Summit 2009 Insights
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"Affordability has become the “price of entry” to the consumer as many families struggle to simply pay for their groceries." |
Mike Salzberg, President, Campbell Sales Company
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