Kroger Acquires Analytics Firm
The Kroger Co.’s 84.51° consumer insights firm is merging with Market6, a predictive analytics firm with offices in Cincinnati and suburban Chicago.
Market6 is focused on product movement data solutions and extensive capabilities in data, insights and customer experience for more than 1,000 CPG and retail clients. 84.51° plans to leverage Market6’s technology, IP and people to expand its work with Kroger, including all of the company’s regional grocery banners and CPG business.
Market6’s leadership comprises industry experts considered pioneers in retail technology, with extensive experience in demand forecasting and analytics solutions. In 2015, Market6 began an exclusive relationship with Milwaukee-based Roundy’s to develop a new collaboration portal for the Midwestern grocery company’s merchandising team and CPG suppliers. With its proprietary web-based collaboration platform, Market6 focused on optimized inventory, execution of more effective promotions, and optimization of new product introductions and lower incidences of out-of-stock items in store.
“Every decision we make focuses on engaging customers where, when and how it matters most to them,” said Stuart Aitken, CEO, 84.51°. “Market6’s technology and people will be key to further enhancing how we communicate with Kroger customers in the most personalized and relevant ways.”
With Market6, CPG suppliers will now have a single provider for Kroger-specific product movement data and customer insights to better understand customer preferences.
“Our company vision has always been about enabling collaboration between retailers and suppliers in order for them to better serve their customers,” said Dave McLean, executive chairman, Market6. “We believe that the combination of Market6’s collaboration platform and 84.51°’s customer insights will be a catalyst to help Kroger and its suppliers to realize this vision.”
Fifty-five Market6 employees will now be employed by 84.51°. Cincinnati employees will work at 84.51’s headquarters at Fifth and Race Streets, while Market6’s employees in Deerfield, Ill., will continue to work at that location.
Building on a decade of experience from the Kroger-dunnhumbyUSA relationship, 84.51° formed in April 2015 when Kroger purchased the remaining 50 percent of its joint venture with dunnhumby-Tesco PLC. Operating independently, 84.51° is now a wholly owned subsidiary of The Kroger Co.
The Cincinnati-based Kroger Co. operates 2,778 retail food stores under a variety of local banner names in 35 states and the District of Columbia.