MIAMI — VideoMining Corporation, the leading provider of in-store behavior analytics for CPG Retail, announced the release of its new ShopperFirst Grocery Channel Program at this year's FMI Midwinter Executive Conference.
The first of its kind, the ShopperFirst program reflects VideoMining's continued commitment to innovation in the CPG Retail market. Providing a year-round stream of shopper behavior, demographic and repeat visit analytics for millions of shoppers across a national panel of stores, the program arms CPG manufacturers and retailers with the insights they need to respond to the changing shopper landscape.
"With the increasing speed of change and ever-shifting shopper preferences, the call for more dynamic insights has grown dramatically," said Dr. Rajeev Sharma, Chief Analytics Officer and Founder of VideoMining. "The ShopperFirst program provides continuous tracking of key in-store metrics necessary to keep the pulse of shoppers and put the shopper at the center of every marketing or merchandising decision."
ShopperFirst builds on VideoMining's highly successful annual Grocery Shopper Insights (GSI) MegaStudy program. The industry standard program has enabled retailers and manufacturers to better understand their performance, uncover opportunities and evolve better channel-based strategies since 2011. The GSI MegaStudy combined unique data on detailed shopper behavior with a variety of detailed analytics.
Manufacturers have utilized the GSI MegaStudy to design better category layouts, optimize displays, gain a deeper understanding of consumer decision trees and test packaging and merchandising innovations. For grocery retailers, the program provides valuable benchmarking capabilities, enabling them to compare their performance with the industry, while providing specific insights to improve strategies in areas ranging from store design to in-store promotions.
While the GSI program offered a yearly snapshot of the channel with benchmarking and deep dives across categories and special interest areas like Displays and Front End, the new ShopperFirst program takes GSI to a new level with continuous tracking throughout the year. This leap forward enables vastly improved trend monitoring, analysis of seasonal variations and ability to plan, execute and monitor investments such as a full year of promotions. Another key facet of ShopperFirst is a range of powerful new segmentation analytics based on gender, age-range and ethnicity as well as repeat visitor data for shoppers across the panel.
"We responded to our clients' needs by developing ground-breaking technologies for anonymously tracking detailed shopping behavior," said Sanjay Mittal, President and CEO of VideoMining. "Fusing multiple sensing modalities and data sources creates a deep analytics platform for optimizing any investment that impacts shopping behavior. We are really pleased to field this new real-time capability in the Grocery channel and look forward to evolving the program in collaboration with our clients."
In addition to the channel-wide ShopperFirst program, VideoMining has established several retailer-specific programs. These programs provide granularity down to the division level at a particular retailer, enabling better alignment of insights to teams and budgets, fostering increased retailer-manufacturer collaboration. VideoMining is actively recruiting new retailers to their grocery panel and manufacturer charter members for their retailer-specific programs.
About VideoMining
VideoMining is the leader of in-store behavior analytics for Consumer Packaged Goods (CPG) manufacturers and retailers. VideoMining's deep analytics platform, called ShopperFirst™, utilizes a patented suite of sensing technologies to capture in-depth shopper behavior data. These previously unmeasured insights, only available from VideoMining, are then integrated with multiple other data sources such as transaction logs, planograms, product mapping, loyalty and promotions to fuel comprehensive solutions for optimizing CPG Retail.
VideoMining has helped the majority of the top 50 CPG retailers and manufacturers collaborate and win by delivering unprecedented visibility into in-store shopper behavior enabling them to get the most value from their investments in Shopper Marketing, Category Management and Brand Management & Innovation.
For more information about the ShopperFirst program or their range of shopper analytics solutions for CPG manufacturers and retailers, contact VideoMining at info@videomining.com or 800.898.9950.
Source: VideoMining Corp.
