CHICAGO--(BUSINESS WIRE)--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 visit http://www.infoscoutinc.com.
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.