What IRI Customers Are Saying
"The IRI AllScan service will enhance our category managers’ ability to make fact-based decisions on assortment, procurement, merchandising and pricing. We will also leverage the IRI insights to capitalize on opportunities around multi-outlet market trends and category seasonality."
Nick Gallegos
Vice President of Sales and Marketing and General Partner
Wilson Farms Neighborhood Food Stores
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Press Releases
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9/2/2009
CPG Leaders Leverage IRI Foresight™ to Power Business and Strategic Planning Throughout the Enterprise
New Solution Integrates Macroeconomic Data with Consumer Segment Drivers to Predict Category and Brand Performance
CHICAGO, Sept. 2, 2009 - Consumer packaged goods (CPG) manufacturers and retailers, actively engaged in their 2010 strategic planning process, face an even tougher challenge than usual, questioning whether the recent slight improvements in the economy will remain permanent or if they are merely spikes in a "W" style recession. To better navigate these challenges, Information Resources, Inc. (IRI) today announced a new solution that several CPG leaders have integrated into their planning processes. IRI Foresight™ is an objective and analytic-driven consulting capability for ongoing business and strategic planning that tracks approximately 400 economic indicators, identifies factors most relevant for brand or category growth, and offers forecasts of up to five years.
"Consumer shopping behavior is increasingly being influenced by external factors like the economy," said Mark Anton, vice president, Consumer Marketing Insights, L'Oréal Consumer Products Division. "The first challenge has been to understand which of these factors is impacting us the most. The economy clearly has to be incorporated into our thought process and understanding how these dynamics impact category trends is a big step forward given our leadership position in the market."
IRI Foresight leverages the effects of macroeconomic activity on consumer spending, including factors such as inflation, interest rates, unemployment rates, property values and credit availability to drive meaningful, fact-based category-specific forecasts.
"We have started to prove that IRI Foresight can improve our confidence in predicting category performance," added Anton. "IRI has worked with us to customize this analysis and ensure that it is consistent with how we manage the business."
Among manufacturers and retailers, there are often multiple planning processes occurring simultaneously among sales teams, marketing teams, supply chain teams and others. IRI Foresight enables these teams to collaborate more effectively by providing a "single version of the truth" around which these teams can focus. As a result, companies can significantly streamline the strategic planning process.
"We have completed analyses on approximately 25 categories for both CPG leaders on national brands and large retailers on private brands," said Erik Almadrones, partner, IRI Consulting & Innovation. "As a result of these projects, several manufacturers and retailers have gained a new, broader perspective on the effects macroeconomic indicators have on their performance. Accurate forecasting results in significantly improved resource deployment and risk mitigation, especially in an economy that continues to undergo significant transformation and where the effects of government activity, such as the current stimulus program, remain largely unknown."
IRI Foresight is the newest of a solution suite available to augment the 2010 strategic planning process among CPG, healthcare and beauty companies as well as retailers. IRI will soon announce the availability of IRI Total Store Advantage™ (TSA) and IRI Total Store Advantage: Wall Street Edition™, which will allow executives to run a wide range of analyses to shape product, price, promotion, assortment and merchandising strategies. TSA Wall Street Edition enables analysts, portfolio managers and others in the investment community to quickly view company and key competitor performance across all categories, aisles and departments.
For more information about IRI Foresight, visit: http://us.infores.com/ProductsSolutions/AllProducts/AllProductsDetail/tabid/159/productid/117/Default.aspx
About IRI
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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"Isn’t it written in the constitution that housing prices must go up each year?" |
Steve Forbes, Editor-in-Chief Forbes Magazine
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