|[March 12, 2014]
IRI Expands Category Architecture Initiative, Offering New, Holistic Approach to Grow Revenue and Market Share
CHICAGO & ORLANDO, Fla. --(Business Wire)--
CPG manufacturers and retailers eager to elevate revenue and market
share must focus on optimizing their category architecture, which is the
discipline of enhancing all key shopper touch points within a store to
address the specific and changing needs of shoppers. A successful,
holistic approach to optimization of these touch points can result in
net income increases of as much as 70 percent, analysis from Information
Resources, Inc. (IRI) reveals.
Shopper touch points include assortments, product interaction, pricing,
merchandising and new product offerings. IRI's new category architecture
initiative brings the discipline to life by integrating leading-edge
science with state-of-the-art category management solutions. It provides
assortment optimization, arming manufacturers and retailers with the
insights necessary to make smarter product mix and new product decisions
on a timelier basis, and enables more accurate assessments of potential
new product success.
"To excel, manufacturers and retailers must alter their current joint
business planning process and in-store execution processes to more
directly align with changes in the CPG industry," said Robert Holston,
executive vicepresident and division head, IRI Advanced Analytics.
"Winners must address how consumers make shopping decisions, provide
products that benefit these consumers by meeting their key need states,
and effectively leverage advertising, promotion, pricing and assortment
to drive shopper loyalty."
Through its Category Blueprint™ solution, IRI works with clients to
develop category strategy and integrates insights into assortment
optimization and planogram generation solutions, which deliver the
product mix that will be most attractive to a retailer's shoppers and
aligned to how they place products on shelves. The end result is a
soup-to-nuts predictive solution that leverages science to deliver
optimized assortments customized to consumer demand patterns and retail
Category Blueprint leverages the largest syndicated source of CPG price
and promotion elasticities, covering more than 90 percent of products
across more than 120 categories. It provides manufacturer clients with
unprecedented insights on category price dynamics and allows retailer
clients to identify which category price and promotion strategies drive
the highest value trips.
The solution's trade planning capabilities enable manufacturers and
retailers to optimize their merchandising programs for greater growth
and reduced subsidization. IRI continues to create new capabilities for
understanding the impact of merchandising and discount activity across
retailers within a market. Specifically, IRI is focusing on how
discounts or programs at one retailer influence consumers' shopping
behaviors and quantifies the related economic impact for retailers and
Category Blueprint also includes retail and manufacturer solutions for
space planning and price architecture solutions. It is a single,
holistic solution for guiding high-value category management.
IRI is a leader in delivering powerful market and shopper information,
predictive analysis 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 healthcare industries by pinpointing what
matters and illuminating how it can impact their businesses across sales
Move your business forward at iriworldwide.com.
[ Back To Technology News's Homepage ]