We are excited to bring this new information to more of the industries we serve in order to meet their ongoing needs – namely, understanding and adapting to changing consumer tastes, shopping, and buying patterns
Port Washington, New York (PRWEB) December 07, 2015
The NPD Group, Inc., a leading global information company, has launched new Checkout Tracking℠ services for technology and apparel. Checkout Tracking measures consumer buying behavior at the market basket-level, based on receipts for both online and brick-and-mortar retail purchases. In addition to the new services for technology and apparel, NPD offers Checkout Tracking for foodservice, mobile games, and retail.
The new services provide clients with an omni-channel view of purchasing, down to the subcategory and brand level. Data available through Checkout Tracking includes total consumer spend and share of wallet by retailer, category or buyer group. Data is delivered via syndicated dashboards for easy access to critical information.
Marketers and manufacturers can use Checkout Tracking for competitor analysis, new product development, marketing strategy, and retailer collaboration. For example, market basket insights can be used to improve product bundling and share of wallet can help facilitate manufacturer / retailer collaboration. In addition to showing which competitors a retailer’s customers are visiting, Checkout Tracking shows assortment and pricing at those competitive retailers to suggest tactical improvements to manufacturers’ distribution strategies as well as retailers’ sales.
“NPD has a rich heritage of innovation and we’re known for our industry expertise,” said Andy Mantis, executive vice president of Checkout Tracking. “We are excited to bring this new information to more of the industries we serve in order to meet their ongoing needs – namely, understanding and adapting to changing consumer tastes, shopping, and buying patterns.”
Checkout Tracking, which launched in November 2014, is the first service to provide detailed information on consumer buying behavior, based on receipts for both online and brick-and-mortar retail purchases from the same consumers over time. Checkout Tracking delivers precise category, brand, and item-level purchase detail linked to buyers and their demographics, useful for analyzing competitive market baskets and identifying purchase patterns. Information is collected from more than 50,000 consumers from NPD’s receipt-harvesting mobile phone app and the scanning of more than 2 million active in-boxes for e-receipts through Slice Intelligence.
About The NPD Group, Inc.
The NPD Group provides market information and business solutions that drive better decision-making and better results. The world’s leading brands rely on us to help them get the right products in the right places for the right people. Practice areas include apparel, appliances, automotive, beauty, consumer electronics, diamonds, e-commerce, entertainment, fashion accessories, food consumption, foodservice, footwear, home, mobile, office supplies, retail, sports, technology, toys, video games, and watches / jewelry. For more information, visit npd.com and npdgroupblog.com. Follow us on Twitter: @npdgroup.