CHICAGO--(BUSINESS WIRE)--Information Resources Inc. (IRI™), the global leader in innovative solutions and services for consumer, retail, media and over-the-counter health care companies, today announced the launch of IRI On-Premise Advantage™, the CPG industry’s first POS-based projected tracking service for the on-premise marketplace. This marketplace includes establishments at which food and drink are consumed where purchased, such as bars and restaurants, and represents more than $680 billion in consumer spending.
The result of IRI’s exclusive alliance with GuestMetrics, LLC, IRI On-Premise Advantage arms CPG manufacturers with the ability to build a comprehensive visualization of brand market share and distribution channels. From this vantage point, CPG decision makers are able to track and manage their business in the important on-premise channel as they do in off-premise channels.
“Our alliance with GuestMetrics is extremely exciting,” said Piyush Chaudhari, president of the Americas and Global Strategy, IRI. “The expansion of our solutions to include on-premise data supports CPG manufacturers and suppliers to the food service industry with the strategic insight and tactical knowledge to allocate resources in a way that optimizes ROI.”
Traditionally, on-premise tracking information has been scarce, especially in comparison to the robust tracking capabilities available in off-premise channels, such as grocery and drug retailers. IRI On-Premise Advantage empowers food service suppliers with the opportunity to access data on consumer purchases made on-premise. GuestMetrics gathers check-level POS data, cleanses and aligns it to standard reporting periods, and maps the data to uniform product descriptions. IRI then integrates the data with the existing off-premise purchase information and leverages its proprietary projection methodology to create total U.S., state and market projected data for dining locations, as well as bars and nightclubs.
“Until now, GuestMetrics’ products were based on our ‘same-store’ sample of locations, which was a natural first step in our go-to-market strategy,” said Brian Barrett, founder and president, GuestMetrics. “IRI On-Premise Advantage takes things to the next level. Using IRI’s proprietary technology, the numbers now represent the sales and volumes across the roughly 320,000 full-service restaurants and bars in the United States. This is a major step forward, and one which will immediately benefit all our clients.”
GuestMetrics collects check-level data from the point-of-sales (POS) systems of over 15,000 restaurants and bars generally representative of the broad on-premise sector across geographies, and with respect to the makeup of casual dining, bars/clubs, fine dining and lodging. GuestMetrics turns billions of raw transactions into intelligible information that is transforming the business operations of everyone from the independently owned bar/restaurant on the corner to multinational chains to the food and beverage companies that supply them. Please visit www.GuestMetrics.com for more information and to schedule a free demonstration.
About the IRI Partner Ecosystem:
IRI fundamentally believes that delivering differentiated growth for clients requires deep, highly integrated partnering with a variety of best-of-breed companies. As such, IRI works closely with a broad range of industry leaders to create innovative joint solutions, services and access to capabilities to help its clients more effectively compete in their various markets and exceed their growth objectives. IRI is committed to its partnership philosophy and continues to actively enhance its ecosystem of partners through alliances, joint ventures, acquisitions and affiliations. The IRI Partner Ecosystem includes such companies as BlueKai (an Oracle company), The Boston Consulting Group, comScore, Datalogix (an Oracle company), Experian, GfK, GuestMetrics, Ipsos, Kantar, MaxPoint, Millward Brown Digital, Mu Sigma, Oracle Social Cloud, Rentrak, SPINS, Univision, MasterCard Advisors and others.
IRI is a leader in delivering powerful market, consumer and media exposure information, predictive analytics and the foresight that leads to action. We go beyond the data to ignite extraordinary growth for our clients in the CPG, retail and over-the-counter health care industries by pinpointing what matters and illuminating how it can impact their businesses. Move your business forward at www.iriworldwide.com.