Price comparison website, mySupermarket has teamed up with research company SymphonyIRI Group, to provide a multi-channel view of shoppers’ behaviour in the UK – both online and in store.
According to the two companies, the service will provide unprecedented insight into the most developed online grocery market in the world, which is currently worth £6bn and growing at over 20% a year.
MySupermarket, which has 2m unique users, said the partnership will provide a granular view into how hundreds of thousands of shoppers are using mySupermarket to make better informed choices in the face of continued financial pressure.
“The last five years has seen phenomenal growth in the demand for shopper insight. The need to understand why shoppers buy and just as important, why they don’t buy, is crucial,” said Dan Finke, managing director of SymphonyIRI Group UK.
“Against this backdrop, SymphonyIRI and mySupermarket have formed this partnership to create unique insights on a scale and to a depth previously unavailable to the industry. Whether buying online or optimising their shopping list prior to travelling to stores, these insights will enable our clients to understand how shoppers navigate through product, pricing and promotional choices before ultimately reaching a purchase decision,” he said.
James Foord my Supermarket’s vp of business development, said: “This relationship means total shopper understanding can at last be cracked, finally bridging arguably the most significant gap in shopper insight. The UK has the biggest online grocery shopping market in the world, and it’s still growing, yet manufacturers are virtually in the dark as to how they create the right multi-channel marketing strategy.
“For the first time they can have access to real time shopper behaviour at the point of sale across multiple retailers – for all their products. Just understanding what makes their customers switch brands is groundbreaking for them and this is only part of the potential opportunity,” he said.
The two firms said a range of services will be available, as a result of the partnership, from the optimisation of price, promotion and assortment through to the real time evaluation of new product introductions and media impacts.
Nigel Howlett, Symphony IRI’s international president, who brokered the partnership agreement with Allon Bloch, CEO of mySupermarket said: “Being able to understand millions of shoppers’ choices in the context of the total basket of goods they purchase as well as their behavioural and geo demographic characteristics, brings a powerful new tool with which to formulate and execute more effective marketing mix and shopper engagement strategies.
“This unique combination of granularity and actionable segmentation also heralds an important innovation for those clients looking to accelerate the performance of their CRM and loyalty marketing investments.
“The ability to understand shopper behaviour and then test findings, analytical models or new executions in a controlled, highly measurable and real time environment, heralds a new era of marketing precision,” he said.
Bloch said: “We know first-hand the FMCG industry has felt at a real disadvantage by not having access to the granular shopper data they need to compete effectively in this multi-channel environment. We are delighted to be able to combine our unique shopper insight with the existing services of IRI, to bring clients something truly game changing to the retail landscape.”