VideoMining Announces 2014 MegaStudy of Over 7 Million Grocery Shoppers
VideoMining Corp., the leading provider of in-store behavior analytics, has announced the planned launch of its largest Grocery Shopper Insights (GSI) MegaStudy, an industry-tracking program that will examine the shopping behaviors of over 7 million shoppers nationwide.
The GSI MegaStudy provides an annual snapshot of in-store shopper behavior in the top grocery banners around the country. Entering its third year, the study has brought to light numerous issues in Grocery, such as the relatively short window of time shoppers actually spend in store (roughly 13 minutes on average) and the significant percentage of shoppers (over 50% on average) who consider items at shelf but ultimately walk away without making a purchase. The behavior is called “leakage.”
“The GSI MegaStudy brings Big Data to grocery,” says Rajeev Sharma, Founder and CEO of VideoMining. “With a greater understanding of key in-store behaviors, our clients and retail partners have used our data and insights to rethink their center store strategies with shopper-focused approaches designed to improve exposure and engagement, and ultimately driving more sales storewide.”
This year’s panel of over 7 million shoppers is expected to be more than three times as large as previous iterations of the study. The expanded and enhanced store panel features additional retailers and store formats from around the country, and a longer collection period. The panel’s expansion into several new key markets will allow it to reflect the modern grocery shopper more fully across all key demographic groups and geographic areas.
The MegaStudy achieves its massive scale by using VideoMining’s patented video measurement technology to track and measure shopper behaviors unobstrusively and anonymously across dozens of stores at the same time and provide industry-wide measures of performance in over 200 individual categories. This year’s study will also include an increased focus such areas as Dairy, Deli, Endcaps, and Front End to offer a total store perspective for trip optimization.
“With this latest version of the study, we are making its findings even more actionable for our clients,” notes Sharma. “We have listened to the marketplace and have collaborated with our clients to add new features and advanced analytics that drive even deeper into the in-store behaviors of shoppers.”
The 2014 MegaStudy will launch in July, with an expected collection period of 12 weeks. Findings and reports from the study are expected be available later in the year, but all users who sign up for 2014 reports can also receive 2012 MegaStudy data for free immediately, allowing for comparisons of behavior across study periods.
The MegaStudy is part of the larger GSI program, which also provides a variety of other research options for those seeking more information in grocery. They include custom testing and research options and retailer-specific programs. The latter, expected to launch concurrently with the MegaStudy, is a subscription-based service which provides monthly updates on shopper behavior at individual key retailers to keep users plugged in all year long.