It’s time to revamp our approach to CPG and retail analytics as we face the perfect storm of technology, a radical shift in shopper behavior and advanced, predictive analytical models.
Predictive analytical models can enable industry leaders to understand nearly infinite details about consumers, reshaping the complete range of product development, pricing, promotion, assortments and store layout strategies. With constant access to online information, social media and mobile technology available today, retailers can create a more relevant dialogue with their shoppers.
Building on this, we recently launched “Analytics2020,” an initiative that will define the next decade of consumer and retail analytics. Analytics2020 is comprised of a global industry survey to study in detail the requirements for success in the evolving retail landscape and how to leverage analytics to create competitive advantage, and a Consortium of leading CPG manufacturers, retailers, academics and media agencies. Our partner, the Grocery Manufacturer’s Association (GMA), will release initial Analytics2020 industry survey findings in August 2012 at the GMA Executive Conference.
The initiative will help CPG and retail decision makers focus on maximizing the impact of integrating traditional, social and mobile technologies to achieve consumer mindshare and loyalty. Together, we will identify and define a roadmap for companies that will help tailor products and services to be individually relevant to consumers.
Don’t want to wait until August to learn more about Analytics2020? You can find additional information here and on Twitter: @Analytics2020.
