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How
does it work?
Each household provides daily information on their purchases
of consumer goods for in home use. Collected on a continuous
basis, it is possible to measure the ongoing changes and interactions
of households purchasing behavior across all grocery and fresh
foods products.
Since each panel is demographically representative, purchasing
behavior is grossed up to represent that of all households.
It is also possible to filter purchasing behavior by discrete
demographic groups.
What does it provide and how is
it used?
Homescan incorporates both descriptive and diagnostic information.
Consumer Panel data provides information on purchaser attributes,
purchase behavior, market penetration, share of category requirements,
brand loyalty, brand switching and parallel consumption plus
a wide range of other powerful analytics. The rich database
not only tells you what is happening but, more importantly,
it provides insights into why consumers behave the way they
do.
Homescan allows you to know your consumers better, understand
what motivates them to buy and answer consumer issues. Having
insights into consumer purchasing behavior enables you to
maximize the potential for your brand(s) by providing focus
on what marketing strategies may be necessary to change or
reinforce consumer behavior.
Features
- Representative panel to match total household population
- Continuous reporting, every shopping occasion
- Unbiased panel incentives
- Same households over time
- Actual purchase data not recall based
- Current and historic data available
- Data delivered via easy to use and powerful software applications
Applications
– Using Homescan
Collected by individual households and by individual product,
Homescan information is granular in detail. Its depth can
produce revealing analysis and help answer questions such
as:
- How many households purchased my product on a trial basis?
Did they return later to purchase again?
- What did my buyers purchase before my marketing campaign,
what did they purchase subsequently?
- Where did buyers of my brand come from?
- What else do my buyers purchase?
- Where else do my buyers shop?
- How store loyal are my shoppers?
- What is the demographic composition of my buyers?
- How do lifestyles and attitudes impact purchasing behavior?
The analysis process
can be broken down into 5 core parts:
Brand and Market Tracking
Keeping a close eye on the markets is essential if you are
a manager making sales and marketing decisions. Homescan will
help you keep abreast of markets and brands in terms of volume,
value, structure and trends. Specifically, information is
available for Share of Volume/Value, Share of Buyers, Weight
of Purchase, Price, Loyalty, and Brand interaction.
Consumer
Dynamics
Markets are driven by consumer dynamics, so the next step
is to understand what consumers are doing to drive market
changes. Homescan and Homepanel market analysis provides the
basis for a complete understanding of consumer behavior, via
Consumer Diagnostics such as Demographics / Buyer graphics,
Target Group Analysis, Loyalty and Repertoires, Frequency
of Purchase, Pricing Analysis, Promotion Evaluation, New Brand
Launch Evaluation, and Gains & Loss / Brand Switching.
Sales
Management and Category
Management
As with markets, consumers interact within the distribution
channels, and thus influence sales based on their behavior
at a retail level. Homescan and Homepanel will enable you
to better understand what consumers are doing by key retailer
and distribution channel to help you develop the most appropriate
retail based strategies, via a better understanding of such
things as: Retail Share of Trade, Retail Traffic, Size of
Basket, Store and Category Loyalty, Shopper Demographics,
Shop Traffic Trends, Retail Switching Trends, and Total till
Roll.
Strategic
Planning
Having a clear understanding of your markets, consumer diagnostics,
and the distribution channel will help you develop much better
quality, and more focused strategic planning. Homescan information
can be merged with other data sources, and your own internal
planning to ensure that consumes are included into all your
strategic planning initiatives.
Globalization
As the world becomes smaller via our continuous moves towards
globalization, the worldwide Homescan panel will help you
benchmark your local markets to those of other nations. You
are able to measure consumer variables at a total market,
product, or retailer level across different countries to help
identify growth opportunities for new products, or new consumer
based initiatives.
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