CHICAGO--(BUSINESS WIRE)--NielsenIQ, the leading authority in consumer intelligence, today announced the launch of Byzzer. It’s a first-of-its-kind platform to provide actionable insights that help small and emerging consumer packaged goods (CPG) businesses—such as those in the food, beauty, pet, alcoholic beverage, and cannabis industries—drive growth and market share. NielsenIQ built Byzzer to specifically address what emerging CPG brands need: simplified, actionable retail insights that fuel faster growth without an army of analysts.
The CPG market does over $900 billion in annual retail sales, and small and medium-sized brands (SMBs) account for $500 billion of that. In an extremely competitive market, approximately 23% of all new items are delisted within the first year, so actionable retail data and analytics are essential for brand survival.
SMBs usually lack the budgets and resources of larger companies, a distinct disadvantage. Understanding how best to utilize disparate sets of retail data has also been a challenge. NielsenIQ's Byzzer platform provides CPG brands with a tool to both streamline the data and make it understandable and actionable.
"When we founded Shameless Pets a few years ago, we knew we had something special," said James Bello, founder and CEO of Shameless Pets. "We're unique, authentic, and we live the values we advertise—we knew shoppers would love that. Buyers, though, need to see the data to be convinced. NielsenIQ is finally making that possible for small brands like us by offering accessible, affordable CPG alerts and reports. We're not just able to get on more shelves—we're able to stay there by using the data to be really smart with our trade spend."
The subscription-based platform, powered by NielsenIQ’s retail measurement and consumer panel data, gives SMBs access to brand email alerts and trusted market reports that are affordable and easy to use, and provide immediate answers through self-service.
- Brand Business Intelligence Email Alerts: The Byzzer platform sends weekly brand alerts directly to user inboxes that utilize sales data from more than 90,000 stores and 100,000 households. These alerts identify risks and opportunities related to market share, product distribution, pricing, market performance, and promotion efficiency.
- Brand and Market Trend Reports: The platform offers more than 30 reports that can translate a brand’s performance across multiple markets, retailers, and product characteristics to help users understand key business opportunities and justify decisions. The reports are used to benchmark sales trends, understand the impact of consumers’ habits on sales, and identify business drivers. Byzzer Smart Reports offer recommended actions to take on price, promotion, assortment, and market expansion so manufacturers don’t have to mine for insights.
“Data inequality isn’t new to retail,” said Susan Dunn, NielsenIQ’s Chief Revenue Officer. “Emerging brands, especially in CPG, are bootstrapping their way to growth when it comes to data because there has never been an opportunity to harness the insights available to larger competitors. “With this launch, NielsenIQ is evening out the playing field—we created Byzzer to give every SMB the insights to create strategies that win more customers, loyalty, and shelf space. We’re sparking a revolution that will infuse the marketplace with brand diversity and fresh, innovative products to consumers.”
The Byzzer platform is available in the U.S. market today. To learn more about NielsenIQ’s new Byzzer platform and its offerings, please visit Byzzer.com.
NielsenIQ is the leader in providing the most complete, unbiased view of consumer behavior, globally. Powered by a groundbreaking consumer data platform and fueled by rich analytic capabilities, NielsenIQ enables bold, confident decision-making for the world’s leading consumer goods companies and retailers.
Using comprehensive data sets and measuring all transactions equally, NielsenIQ gives clients a forward-looking view into consumer behavior in order to optimize performance across all retail platforms. Our open philosophy on data integration enables the most influential consumer data sets on the planet. NielsenIQ delivers the complete truth.
NielsenIQ, an Advent International portfolio company, has operations in nearly 100 markets, covering more than 90% of the world’s population. For more information, visit NielsenIQ.com.