New Study Confirms That Shopper Insights Provide Actionable Intelligence for Retailers |
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By: DemandTec, Inc. Posted: 2011-01-10 06:10:48 |
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DemandTec, Inc. (Nasdaq: DMAN), the collaborative optimization network for retailers and consumer products companies, today released results from a new quantitative study titled "Shopper Insights: Actionable or Academic?" at the National Retail Federation's 100th Annual Convention & EXPO in New York City. The research uncovers industry perspectives about the value of shopper insights and how these insights can be applied within merchandising, marketing, pricing, trade, product development, and other retail disciplines.
Key findings from the research include: * Nearly 50 percent of executive manager respondents use shopper insights regularly. * Nearly 80 percent of retailer and manufacturer respondents say shopper loyalty program data is considered the most actionable type of shopper insights for improving retailer performance. * Nearly 70 percent of retailer and manufacturer respondents score both behavioral and lifestage shopper segmentations as "most valuable" segments within merchandising processes. * More than 90 percent of respondents consider the application of shopper insights in most business processes as a shared responsibility between trading partners. * Nearly 70 percent of retailer respondents say that shopper insights should be solely funded by the retailer or come from trade funds. * Shopper insights are considered "highly valuable" in almost every business function, with category management emerging as the leading function. "Today's most progressive retailers and their manufacturer trading partners understand that shopper-centricity is the new foundation for effective collaboration," said Marc Dietz, Vice President of Marketing for DemandTec. "Recognizing the importance of shopper insights, retailers are now retooling their approaches to merchandising, creating competitive advantages and differentiating themselves in the highly dynamic retail industry." The "Shopper Insights: Actionable or Academic?" research was commissioned by DemandTec and fielded by RetailWire in September 2010. The survey polled nearly 600 RetailWire community respondents, spanning across both retailers and manufacturers, from executive management to category managers. For more information and additional results, please visit www.demandtec.com/survey or register for DemandTec's "Shopper Insights: Actionable or Academic?" webinar on January 18, 2011. About DemandTec DemandTec (NASDAQ: DMAN) connects more than 340 retailers and consumer products companies, providing common tools to transact, interact, and collaborate on core merchandising and marketing activities. DemandTec's software services enable customers to achieve their sales volume, revenue, shopper loyalty, and profitability objectives. DemandTec customers have collaborated on nearly four million trade deals. DemandTec software-as-a-service utilizes a science-based platform to model and understand consumer behavior. DemandTec customers include leading retailers and consumer products companies such as Ahold USA, Best Buy, ConAgra Foods, Delhaize America, General Mills, H-E-B Grocery Co., The Home Depot, Hormel Foods, Monoprix, PETCO, Safeway, Sara Lee, Target, Walmart, and WH Smith. DemandTec Safe Harbor This press release contains forward-looking statements regarding DemandTec's expectations, hopes, plans, intentions or strategies, including statements about the benefits of DemandTec's solutions. These forward-looking statements involve risks and uncertainties, as well as assumptions that, if they do not fully materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements. The risks and uncertainties include those described in DemandTec's documents filed with or furnished to the Securities and Exchange Commission. All forward-looking statements in this press release are based on information available to DemandTec as of the date hereof, and DemandTec assumes no obligation to update these forward-looking statements. DemandTec and the DemandTec logo are registered trademarks of DemandTec, Inc. All other trademarks are the property of their respective owners. |
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