CHICAGO--(BUSINESS WIRE)--IRI®, a global leader in innovative solutions and services for consumer, retail and media companies, and SPINS®, the leading provider of wellness-focused data technology for the natural, organic and specialty products industries, announced they have significantly expanded their joint offering, tripling the number of SPINS health and wellness attributes available in IRI’s Liquid Data® technology platform. This expanded IRI-SPINS offering provides retailers and brands with extensive access to label and ingredient insights, enabling a deep understanding of product dynamics and shopper behavior in wellness both in store and online.
In addition to enhancing IRI market measurement and shopper marketing solutions in the Liquid Data platform, this joint solution will also integrate SPINS’ wellness attributes into other IRI applications, such as digital audience activation, advanced analytics solutions, market structure studies and more. Retailers and brands will be able to obtain insight into a wide range of health and wellness product certifications and ingredients to understand attributes that consumers are seeking and avoiding, such as gluten-free, grass-fed, fair trade, antibiotic- or hormone-free, artificial colors and preservatives, types of sweeteners, allergens and sensitivities, and more.
“Shoppers are increasingly looking to retailers as stewards of transparency when it comes to how products are made and the impact those products may have on their health,” said Steve Ramsey, executive vice president and general manager of strategic accounts for IRI. “With this expanded offering, IRI and SPINS are equipping retailers and their brand partners with the tools to pinpoint the behaviors of natural and wellness shoppers and to activate in-store and digitally to win with these shoppers.”
Early pilots of this enhanced solution have delivered significant incremental value. The benefits lauded by participating retailers and brands include:
- Increased Shopper Understanding: By leveraging the extensive consumer insights that come from more than 30 million households, retailers gain precision understanding of natural shopper engagement within their own stores and where else these shoppers are buying natural products. This new solution unlocks unique consumer dynamics driven by health and lifestyle choices, such as paleo, vegan, the major 8 allergens and animal welfare, which drive innovation along with brand and category growth.
- More Effective Merchandising Strategies: The direct link that this solution drives between market measurement and consumer perception proved highly effective for building compelling assortment and pricing strategies to meet these health and lifestyle needs and build loyalty for both retailers and brands.
- Trends and Innovation Identification: Participating brands and retailers created attribute-rich corporate scorecards based on both shopper and market share metrics to support wellness goals within their own hierarchies. For example, enhancing their view of market share to see how they were growing share with shoppers of gluten-free, non-GMO and organic products.
- More Powerful Shopper Activation: These clients were able to shift more seamlessly from insights to activation by building shopper segmentation leveraging, SPINS Product Intelligence and then designing effective digital activation methods for each through IRI purchase-based audiences.
“SPINS is laser-focused on retail excellence, and we are pleased to expand our partnership with IRI in support of our mutual retailer partners and their brands,” said Tony Olson, chief executive officer of SPINS. “Our new solution provides retailers and brands with a roadmap and common language to navigate their shoppers’ increasingly personalized demands for natural and wellness products and to activate accelerated growth.”
SPINS’ Product Intelligence, regarded as the most comprehensive natural/organic and wellness coding, includes its industry-defining view of the natural products industry known as the NPI. The IRI Liquid Data platform is the largest and most unique big data platform of its kind, combining purchase behavior, media and causal factors. The platform includes built-in visualization, collaboration and authoring capabilities that can be further enriched with client data in a tailored, private cloud deployment.
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SPINS and IRI Announce Unprecedented Consumer Insights for Natural Retail Channel
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. With this in mind, IRI works closely with a broad range of industry leaders across multiple industries and sectors to create innovative joint solutions, services and access to capabilities to help its clients more effectively collaborate and compete in their various markets and exceed their growth objectives. IRI is committed to its partnership philosophy and continues to actively enhance its open ecosystem of partners through alliances, joint ventures, acquisitions and affiliations. The IRI Partner Ecosystem includes such leading companies as 84.51°, Adobe, The Boston Consulting Group, Clavis Insights, comScore, Data Plus Math, Edison, Experian, GfK, Gigwalk, Google, Ipsos, Jumpshot, Mastercard Advisors, MaxPoint, MFour, Omnicom, One Click Retail, Oracle, Pinterest, Research Now/SSI, Simulmedia, SPINS, Univision, Viant and others.
About IRI
IRI is a leading provider of big data, predictive analytics and forward-looking insights that help CPG, OTC health care organizations, retailers, financial services and media companies grow their businesses. A confluence of major external events — a change in consumer buying habits, big data coming into its own, advanced analytics and personalized consumer activation — is leading to a seismic shift in drivers of success in all industries. With the largest repository of purchase, media, social, causal and loyalty data, all integrated on an on-demand, cloud-based technology platform, IRI is empowering the personalization revolution, helping to guide its more than 5,000 clients around the world in their quests to remain relentlessly relevant, capture market share, connect with consumers, collaborate with key constituents and deliver market-leading growth. For more information, visit www.iriworldwide.com.
About SPINS
SPINS LLC is a wellness-focused data technology company and passionate advocate for the natural and specialty products industry. Established in 1995, SPINS has been passionate about supporting companies that have a positive impact on the world by helping increase the presence and accessibility of health and wellness products. SPINS is committed to laying the foundation for the next generation of growth, providing dynamic data, actionable insights, and digital activation solutions that contribute to a healthier and more vibrant America. Learn more at www.spins.com.
