Spectra and ACNielsen Launch Expanded Loyalty-building Service for Retailers
CHICAGO -- Spectra and ACNielsen U.S., both part of the VNU Marketing Information group, yesterday announced the launch of Category ShareCast, a Spectra service powered by the ACNielsen Homescan consumer panel that provides consumer packaged goods retailers with a "new approach" to measuring and building shopper loyalty. The service is designed to provide retailers with a better understanding of their share of each shopper's total category-specific spending while identifying opportunities to capture more of that spending.
"Assessing the true loyalty of shoppers has often been an elusive concept for retailers," said Tim Kregor, president of Spectra, in a statement. "Retailers have intimate knowledge about their shoppers -- which customers spend the most and shop most frequently. What they don't know, however, is how much these customers are spending outside their chain, and how many dollars they can hope to claim. Category ShareCast provides the missing context, telling retailers how much of their shoppers' total spending they are capturing by category. This new metric will become an essential loyalty-building tool for retailers."
Category ShareCast leverages Spectra's consumer segmentation modeling and ACNielsen's Homescan consumer panel data to measure how much each shopper's household spends on each product category within a particular retailer and in total. The resulting category-specific share-of-wallet metric enables retailers to understand where real revenue opportunities exist and to use targeted marketing and merchandising activities to increase their share of each customer's spending.
Robert I. Tomei, general manager for the ACNielsen U.S. Homescan business, said, "Through this expansion we will be able to provide clients with a broader and deeper view of consumer behavior and a window into shoppers' behavior inside and outside the store." ACNielsen expects the size of its Homescan panel to reach 125,000 households by the end of this year.
"Assessing the true loyalty of shoppers has often been an elusive concept for retailers," said Tim Kregor, president of Spectra, in a statement. "Retailers have intimate knowledge about their shoppers -- which customers spend the most and shop most frequently. What they don't know, however, is how much these customers are spending outside their chain, and how many dollars they can hope to claim. Category ShareCast provides the missing context, telling retailers how much of their shoppers' total spending they are capturing by category. This new metric will become an essential loyalty-building tool for retailers."
Category ShareCast leverages Spectra's consumer segmentation modeling and ACNielsen's Homescan consumer panel data to measure how much each shopper's household spends on each product category within a particular retailer and in total. The resulting category-specific share-of-wallet metric enables retailers to understand where real revenue opportunities exist and to use targeted marketing and merchandising activities to increase their share of each customer's spending.
Robert I. Tomei, general manager for the ACNielsen U.S. Homescan business, said, "Through this expansion we will be able to provide clients with a broader and deeper view of consumer behavior and a window into shoppers' behavior inside and outside the store." ACNielsen expects the size of its Homescan panel to reach 125,000 households by the end of this year.