Omnichannel consumer purchase panel provider, InfoScout, and parent
company, Market Track, provider of competitive business intelligence
solutions, today announced the launch of their joint Trade Insights
product. The breakthrough solution closes the loop between advertising
and promotion (A&P) activities and purchase behavior, allowing both
manufacturers and retailers to identify the promotions that bring new
shoppers to brands and categories.
Blind spots in a promotion’s performance will be effectively eliminated
by integrating data from InfoScout’s over 200 million brick-and-mortar
and eCommerce receipts captured annually with Market Track’s trade
promotion intelligence platform, FeatureVision. Brands will have
unprecedented, timely visibility into the sources and promotions that
attract new shoppers, so that manufacturers and retailers can more
effectively collaborate and make informed decisions on where to invest
trade promotion budgets.
“Manufacturers spend more than half of their budgets on trade promotions
but have huge blind spots as to the effectiveness of their spend.
Current insights are too slow to easily identify whether or not these
promotions attract new shoppers,” said Market Track CEO and President
Dennis Moore. “This intelligence solution will clearly reveal how many
incremental shoppers were driven as a result of a promotion and how many
were promotional lift detractors, such as pantry stuffers or intra-brand
switchers. We are uniquely addressing a need far beyond promotion
measurement, by making it possible for brands to increase penetration
for long-term growth.”
Trade Insights combines three reports that help brands allocate their
budgets on the most effective promotions: Promotion Scorecard for
tracking promotions across the marketplace and comparing key metrics,
Retailer Circular Analysis to track overall promotion performance across
retailer promotion circulars, and Event Analysis to understand what
occurred before and after a single promotion event.
“We are solving several challenges retailers and manufacturers face when
trying to make the most of their trade promotion budgets,” continued Mr.
Moore. “In a business environment where trade has an immense amount of
scrutiny, this solution will allow brands to optimize their spend and
easily collaborate with retailers on the effectiveness of the spend.
Additionally, the solution moves at the speed of retail—giving brands
access to insights in just two weeks—faster than ever before and
resolving the very slow pace of current solutions that can take almost a
year to model.”
Trade Insights is now available for revenue management and trade
analytics teams to: identify the promotions that attract new shoppers,
build budgets accordingly, plan against competitors, manage and optimize
promotions, analyze results, and drive long-term growth.
InfoScout, now part of the Market Track family, helps brands and
retailers grow via next-generation consumer insights derived from
America’s largest purchase panel. Through its portfolio of proprietary
mobile apps that engage a representative sample of American shoppers,
InfoScout captures nearly 1 out of every 500 shopping trips made across
the country. These shoppers also complete in-the- moment surveys to more
fully explain the “why behind the buy.” With over 200 million
brick-and-mortar and eCommerce receipts captured annually, InfoScout has
rapidly become a primary source of real-time, omnichannel behavioral
insights for industry leaders such as Procter & Gamble, J&J, Red Bull,
Kroger, The Marketing Arm, and Samsung. For more information, please
About Market Track
Owned by Vista Equity Partners (the fourth largest software company in
the world), Market Track delivers the omnichannel market intelligence
that brands and retailers need to connect and win with consumers.
Through the curation of proprietary data streams, Market Track provides
web-based access to mission-critical market intelligence. With over
2,100 clients (including 75 of the top 100 US advertisers) and leading
omnichannel solutions, Market Track is committed to delivering in-market
intelligence to increase marketing effectiveness for manufacturers,
service providers, retailers and agencies.
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