CHICAGO--(BUSINESS WIRE)--IRI® and SPINS®, the leading authority on natural, organic and specialty products, announced they are joining forces to help retailers meet shoppers’ demands for health and wellness products and find new growth.
“Retailers are on the front line in meeting shoppers’ evolving needs for healthier options,” said Andrew Appel, president and chief executive officer of IRI. “So IRI and SPINS are teaming up to integrate the richness of SPINS’ natural and specialty product attributes with various on-demand data sources into the industry-leading IRI Liquid Data® platform to help retailers get insights on sales drivers and pinpoint the behaviors of natural and organic shoppers.”
SPINS’ product attribution, regarded as the most comprehensive natural/organic and wellness coding, includes the product definition of the “natural products industry,” known as the NPI. The IRI Liquid Data platform is the largest and most unique purchase, media and causal big data platform of its kind and includes built-in visualization, collaboration and authoring capabilities that can be further enriched with client data in a tailored, private cloud deployment.
Retailers currently using the enhanced solution are finding significant value in the combination of several data sets that include SPINS attributes, IRI Consumer and Shopper Insights Advantage™ solution, NaturaLink™ segmentation and point-of-sale data, all delivered on IRI’s Liquid Data platform.
- Identify Trends: Create attribute-rich corporate scorecards based on both shopper and market share metrics to support wellness goals within a retailer’s own hierarchy, such as overall measurement of market share with gluten-free, non-GMO and organic product shoppers. Transition easily into the SPINS hierarchy as needed to pinpoint additional trends in wellness among the core natural shoppers and measure share by market and share of wallet.
- Develop Assortment and Pricing Strategies: Facilitate a strong link between measuring the market and building effective assortment and pricing strategies that meet health and lifestyle shopper needs, improving shopper loyalty at retail. Activate identified wellness trends at the shelf with ease through attribute-rich assortment analytics and pricing navigation.
- Drive Shopper Insight and Activation: By leveraging the extensive consumer insights that come from millions of households, retailers gain precision understanding of natural shopper engagement within their own stores and wherever else these shoppers are buying natural products. This new solution unlocks unique consumer dynamics driven by health and lifestyle choices, such as Paleo, allergy friendly and animal welfare, which drive innovation along with brand and category growth.
Building upon the success of this enhanced solution, IRI and SPINS are developing plans to expand this concept to platforms like gateways that enable supplier and retailer collaboration.
“SPINS is laser focused on retail excellence, and we are pleased to expand our partnership with IRI in announcing this additional service in support of our mutual retailer partners,” said Tony Olson, chief executive officer of SPINS. “Our new solution provides retailers with that much-needed road map to meet their shoppers’ demands for natural and wellness products and activate accelerated growth.”
SPINS’ health and wellness product attributes will be available for retailers via a partnership with IRI and SPINS, integrated into IRI Liquid Data. These attributes represent more than 1,300 characteristics, providing exponential opportunity for enhanced wellness insights for both product and shopper connectivity. Retail partnership participation will expand to include an annual release of additional new attributes within Liquid Data and further expanded attributes available in SPINS tools for micro analytics and insights.
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 Adobe, The Boston Consulting Group, comScore, Experian, GfK, Gigwalk, Ipsos, Kantar Shopcom, MasterCard Advisors, MaxPoint, Millward Brown Digital, Mu Sigma, Neustar, Oracle, PlaceIQ, Research Now, Simulmedia, SPINS, Survey Sampling International, Univision and others.
IRI is a leading provider of big data, predictive analytics and forward-looking insights that help CPG, OTC health care organizations, retailers and media companies to grow their businesses. With the largest repository of purchase, media, social, causal and loyalty data, all integrated on an on-demand, cloud-based technology platform, IRI helps to guide its more than 5,000 clients around the world in their quests to remain relentlessly relevant, capture market share, connect with consumers and deliver market-leading growth. A confluence of major external events — a revolution in consumer buying, big data coming into its own, advanced analytics and automated consumer activation — is leading to a seismic shift in drivers of success in all industries. Ensure your business can leverage data at www.IRIworldwide.com.
SPINS is a passionate advocate of brands and retailers that promote healthy living. As the leading provider of retail consumer insights, analytics reporting and consulting services for the Natural, Organic and Specialty Products Industry, its business offerings are helping retailers in this high growth area to connect people with the brands that they need and love. Learn more at www.spins.com.