VideoMining Announces 7th Annual Grocery ShopperImpact MegaStudy
Program enables tracking of rapidly changing shopper behavior and preferences
STATE COLLEGE, Pa., November 2, 2017 – VideoMining, the leader of in-store behavior analytics for consumer packaged goods (CPG) retailers and manufacturers, announces the latest edition of the Grocery ShopperImpact (GSI) MegaStudy, which includes an expanded panel of stores, strengthened retailer partnerships and new analytics features enabled by machine learning applied to millions of shopping trips.
The GSI MegaStudy, nearing a decade of insight into the grocery channel, is the only ongoing industry-tracking program for in-store behavior. The latest updates to the program provide more visibility into brick-and-mortar shopper behavior, from the storewide level down to the aisle, category and brand/SKU level.
“This year has truly been a defining year for the grocery channel, with the entrance of new major players and transformational changes among some established brands,” stated Rajeev Sharma, Founder & CEO of VideoMining. “These changes signal a new reality for brands who want to compete in the grocery channel, but they also demonstrate the importance of understanding how these changes impact shopper behavior across channels and across store formats.”
The GSI MegaStudy program combines seven years of experience tracking industry trends with the most robust technology platform in order to help understand and predict how marketing/merchandising innovations and other changes impact in-store shopper behavior.
The ShopperImpact platform uses patented machine learning to power Decision Analytics that go beyond industry-wide trends and quantify shoppers’ decision-making process at the shelf. This enables manufacturers in the grocery space to not just understand shopper trends from an industry-wide perspective but to dig deep into how those trends specifically impact shopper behavior at the category or SKU level.
The ShopperImpact MegaStudy separates myth from reality by quantifying how real shoppers behave in-store. For example, some industry stereotypes have posited that Millennials could be the death of the center store, as younger consumers seem to prefer options they perceive as fresh and healthy. However, in reality, 54% of Millennials are center-store-primary shoppers, meaning that they have an above-average proportion of items from center store in their grocery basket. In fact, Millennials are the only age demographic that has a higher share of center store primary shoppers than perimeter primary shoppers.
At the same time, MegaStudy data shows that 20% of shoppers shop exclusively in the perimeter of the store, up from 12% in 2012. The perimeter is still a key area to add value, create memorable shopping experiences and differentiate from the competition, and its influence on total store performance will continue to grow.
These insights show how the relationship between the perimeter and center store is evolving, even though both will continue to have an important role in grocery stores in the future. With the changes throughout the grocery channel and in retail as a whole, there have been clear signs that retail will continue to support a full omnichannel mix — including online, brick-and-mortar and other emerging formats. VideoMining’s ShopperImpact analytics platform and the GSI MegaStudy will enable CPG manufacturers to understand how this continuous change will affect their brands and their categories in-store.
To best help address clients’ business needs, VideoMining offers customizable subscription package options. Standard Grocery ShopperImpact packages include:
- Insights Report
The story behind the insights. A concise blend of highlighted learnings, interpretation and recommendations presents insights in the context of specific business issues and questions.
- Insights Builder
Easy to use online tools to interactively explore and visualize data to uncover actionable insights and answer specific questions.
- Insights Reel
Video highlight reel that brings insights to life with select clips that illustrate key behaviors and other interesting scenarios.
- Insights Workshop
Sharing key insights and recommendations interactively with key stakeholders to evolve an actionable plan in the context of overall retail strategy.
- Special Subscriber Discounts on Custom Projects and Testing
VideoMining’s unrivaled store panel provides access to the ideal environment to measure shopper responses new innovations in marketing, merchandising, store layout, and more.
VideoMining is the leader of in-store behavior analytics for Consumer Packaged Goods (CPG) manufacturers and retailers. VideoMining’s deep analytics platform utilizes a patented suite of sensing technologies to capture in-depth shopper behavior data. These previously unmeasured insights are then integrated with multiple other data sources such as transaction, planograms, product mapping, loyalty and promotions to fuel comprehensive solutions for optimizing CPG Retail.
VideoMining’s client base includes a majority of the top 50 CPG retailers and manufacturers, who gain unprecedented visibility into in-store shopper behavior enabling them to get the most value from their investments in Shopper Marketing, Category Management and Brand Innovation.