Big Data Comes to Consumer Products and Retail
Consumer Packaged Goods (CPG) companies and retailers are facing intense pressure to gain competitive advantage in all aspects of the marketplace. Traditional, brick-and-mortar retailers, online retailers, and those that fall in between are all looking for ways to gain or retain market share and continually spur consumer demand while improving retail visibility and customer service.
The Digital Path of Purchase
Both manufacturers and retailers are moving away from broad, ineffective anecdotal and experiential marketing tactics in search of strategies to better pinpoint consumers whose transactions are as likely to take place online or on smart phones as they are in physical stores. Today’s consumer is found along the Digital Path to Purchase where data and information is critical to informed decisions and winning trial and loyalty.
Influencing Market Demand
The Enterra Enterprise Cognitive System™ (ECS) provides CPG companies, retailers and others in their ecosystem an analytical platform to sense, anticipate, and influence market demand. By capturing, curating and leveraging large volumes of data and integrating it with predictive analytics, Enterra helps retailers and CPG companies increase inventory turnover velocity, avoid out-of-stocks and optimize pricing by gaining a better understanding of consumer behavior and preferences. The Enterra ECS automates the management and analysis of exponential data growth without adding geometrically to headcount. Enterra technologies don’t just crunch numbers, they mimic the human mind to produce rich meaningful analytics drawn from vast amounts of data, quickly to improve product and promotion decision making and support Marketing, Category Management, Customer Marketing and Shopper Marketing.
Where We Play
For Media Placement and Shopper Marketing, Enterra enables targeted and more effective local promotion, relying on sensory profiling rather than past market share analysis. By profiling the actual sensory preferences of consumers, Enterra technologies can identify specific consumer desires—a stronger indicator of future demand.
For Category Management, Enterra improves sell through via better shelf sets (SKUs and facings) and retail pricing by better understanding local consumer preferences for specific flavors, scents and product attributes, delivering powerful insights.
For Shopper Marketing, the Enterra ECS enables targeted, more effective local promotion by understanding consumer preferences down to the store level, improving inventory management and thereby delivering a stronger bottom line.
For food manufacturers and marketers, Enterra’s unique line-up of sensory-based solutions identifies taste and smell sensory profiles for specific foods. And then, through Big Data Analytics, Enterra derives consumer sensory preferences right down to the individual, household, store, zip code or region. Invaluable for forecasting and new product development, these sensory-based tools can be used to efficiently target the individuals with the right product and promotion at the right time. Benefits to retailers and manufacturers include the optimization of productive inventory and product assortment, along with increased efficiency in trade promotion and marketing spend.
Enterra’s CPG experience involves all disciplines, including consumer and customer marketing, category management, shopper marketing and value chain capabilities. Enterra has twice been selected as an Editor’s Pick for Supply Chain Agility by Consumer Goods Technology, recognized as “substantially impacting the Consumer Goods market with innovative yet necessary tools.”