With the increasing complexity and competitiveness involved in reaching today's consumers, retailers need to take a fresh look at shoppers on a regular basis. The current issue of IRI Retail MarketWatch provides this sought-after information by examining how consumers shop, their mindset when they shop and their changing attitudes toward value and private label. The quarterly benchmarking publication, which analyzes key trends impacting the retail industry, was launched in September 2006 from Information Resources, Inc. (IRI), the leading global provider of enterprise market solutions.
"We're dedicated to bringing burning issues at retail to the forefront, so this month we are featuring private label as the cover story," said President of IRI Retail Solutions and Strategic Consulting Thom Blischok. "Our latest study, "˜The IRI Private Label Report,' examines viewpoints from consumers, retailers and manufacturers, so that retailers can develop an action plan to make the most of their private label performance. With sales at nearly $50 billion per year, private label is an opportunity that retailers do not want to miss."
In addition, the current publication of IRI Retail MarketWatch includes the following key issues:
- Shopping Trip Missions: The average American household takes one less shopping trip per month versus five years ago, so there are fewer opportunities to "get the sale." In order for retailers to grow trip frequency and market basket size, they must understand the primary objectives behind various shopping "trip missions."
- Category Benchmarks: There are connections between Rx shoppers and center store categories that retailers can leverage to drive sales.
- Shopping Benchmarks: As U.S. gas prices peaked in the third quarter, consumers became more efficient shoppers by increasing spending in closer-to-home drugstores, neighborhood convenience stores and gas marts.
To help retailers stay on top of the hottest items selling in the supermarket and convenience channels, IRI added a new feature this quarter, The Top New Items Report. Similar to the rest of the IRI Retail MarketWatch, this easy-to-read summary equips retailers with valuable information they can act on quickly.
"IRI Retail MarketWatch is a great way to keep your fingers on the retail pulse," added Blischok. "It enables retailers to measure how they are stacking up against the competition, and also offers a quick and easy way to monitor critical category, shopper and channel trends as they are emerging, not after the fact."
To request a copy of IRI Retail MarketWatch, contact Mark Tack at 312-474-2813 or mark.tack@infores.com. To download an electronic copy of the publication, please visit https://us.infores.com/page/content_access?t=1&i=92
About Information Resources, Inc.
Information Resources, Inc. (IRI) is the world's leading provider of enterprise market information solutions and services for the consumer packaged goods (CPG), retail, and healthcare industries, empowering its clients to grow their business profitably in a complex marketplace. Driving the transformation of the industries it serves, only IRI provides a unique combination of real-time market content, advanced analytics, enterprise performance management software, and professional services. The company's portfolio of services, solutions, and technology enable leading retailers and their suppliers around the globe to see what they are missing, act faster with greater confidence and win at the shelf. Ninety-five percent of the FORTUNE Global 500 in CPG and retail leverage IRI to power their business. For more information, visit http://us.infores.com.