Store panel data is outdated
Traditional market research methods are outdated and slow down decision-making processes with their inflexible data and limited sample sizes. Store panel data provides unreliable results, and delays in obtaining results limit a brand’s ability to act on growth opportunities quickly.
By leveraging tech-enabled crowdsourcing, CPG brands can receive real-time insights that provide more reliable analysis for marketing strategies and product placement. This method gives brands access to timely data that allows them to rapidly rectify out of stocks and track performance-related factors like pricing, promotions, and product placements.
Modern market research is essential for today’s brands
With a tech-enabled provider like Premise you get:
- Huge coverage. Tens of thousands of stores can be audited at once, worldwide.
- Same-day results. Track insights as they come in, and take action within minutes.
- Store-specific intelligence. Inspect metrics, images, and scorecards from every store that matters to you.
- Immediate Actionability. Same-day data + store-specific reporting = immediate action.
- Flexibility. Change up your metrics, panels, and objectives whenever your needs change.
That’s how modern market research solutions allow CPG brands to detect emerging market trends faster, discover new growth opportunities, launch innovative products, and stay on top of their industry’s shifting dynamics, all while reducing costs associated with surveys or store panel data sources.
Conclusion
The bottom line is that modern market research is essential for any brand to remain competitive in today’s ever-changing landscape. CPG brands could use slow and inflexible legacy methods – or they can draw on the power of millions of shoppers networked into a global retail intelligence field force. They can leverage the same out of date one size fits all datasets – or they can gain the advantage with same-day data that enables same-day action, making savings while driving up sales.
About Premise
Premise is a revolutionary insights platform that provides flexible, actionable, on-demand insights. With Premise, you can see where your products sit on retail partners’ shelves and how your competitors perform at the same time.
Contact us to learn more about how in-store mobile insights can benefit your brand.