CPG Brands Learn WHAT NEXT to Influence Shoppers
The almost exclusively in-store sector of consumer goods is finally embracing eCommerce
Anticipating continued flux in the CPG market post-pandemic, manufacturers and retailers are urgently looking for ways to understand and capitalize on new online shopper behaviors. They all want to know, “What next?”
To find out, we developed a 2-tiered shopper marketing platform with TABS Analytics combining their data analytics with our custom shopper research, Digital.IQ. The approach delivers an integrated view of not only what shoppers are doing, but why they do it. It also forecasts what consumers are likely to do in response to future shopper marketing changes.
Tier 1: Data Analytics – Delivers the WHAT
Shopper behavior is always changing, eCommerce is driving significant growth for many CPG brands. This new channel growth underscores the need for improved monitoring of shopper behavior across platforms.
Before the pandemic, it was difficult enough to analyze the firehose of brick and mortar sales data. With the rapid rise of online transactions, systems must now include the data unique to online retailers. This has grown the “data firehose” exponentially.
To get a clear picture of what is really happening, TABS Analytics harmonizes online sales data with Brick & Mortar syndicated data (such as IRI, Nielsen or other sources). A custom, blended database is harmonized across all geographies, products, time periods, price, pack size, channels and mix.
A harmonized approach supports an "omnishopper" or 360 shopper view, critical to understanding growth areas. This complete picture is needed to develop data analytics for cross-channel shopper marketing strategies. Two of TABS Analytics' experts will be sharing real-world demos of harmonized eCommerce data in the upcoming Smoke Jumpers Webinar, "Harmonizing eCommerce and Brick & Mortar Data to Improve Reporting and Analysis." Click here to learn more about this event!
Tier 2: Shopper Insights – Delivering the NEXT
This Test and Learn approach uses Decision Insight's virtual shopping research platform developed for eCommerce, simulating the online environment to predict the impact of different strategies on sales and answer the “Why” through in-depth, follow-up diagnostics. This approach optimizes online offerings, including packaging, cross-promotions, pricing, and new product development.
Digital.IQ – Delivering WHAT NEXT for Activation in eCommerce
We’ve tested a wide variety of strategies such as alternative imagery, updated taxonomies, and unique promotions. Some were proved to positively influence purchase behavior and increase sales.
Digital.IQ provides brands and manufacturers validation for go/no-go eCommerce decisions -- taming the data firehose for future activation.For more information, contact Leslie Downie.