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Category Development & Risk Index – Informing investment decisions & minimising risk
As shoppers become savvier, the retailing environment has become increasingly competitive. It’s not just about low prices (although that may help); it’s about brands having a point of difference, adding value and targeting needs.
Thanks to the pervasiveness of data there are many ways to understand what consumers are doing. Evaluating transactional data can help understand shopping patterns, whilst mining loyalty card data can highlight how people shop categories.
However, data only tells part of the story. Data doesn’t necessarily understand or help predict a consumer’s future behaviour or quantify what they are about to do.
To really understand opportunities and minimise risk we believe you must take the predictive onus away from consumers. After all there is no value in asking people what they may do in the future. However, by taking a deceptively simple set of questions, which focus on what they do now, and by applying advanced analytics, we can provide clients with a deeper understanding and specific strategic direction.
Download our paper as Ian Hext, Head of FMCG, looks at how our Category Development Index (CDI) and Category Risk Index (CRI) tools help inform investment decision making and minimise risk.
For more information on our approach to innovation and understanding consumer trends and behaviour change modelling please contact Ian Hext, Head of FMCG.