Chicago-based market research firm IRI is expanding its omnichannel measurement capabilities with the introduction of two new solutions — OmniConsumer and OmniMarket — as well as the acquisition of CoinOut, a 1.5-million-member receipt capture panel.
“These two new solutions represent the first omnichannel measurement, at scale, for our industry,” said Andrew Appel, president and CEO of IRI. “We have been on a journey to assemble the assets required to comprehensively measure omnichannel share and consumer behavior and the addition of the 1.5-million-member receipt panel is the final piece of this solution. These assets are all integrated into our world-class IRI Liquid Data technology platform and allow our clients to shift seamlessly from insights to activation with a complete understanding of the market and consumer’s behavior.”
OmniMarket offers a comprehensive measurement of in-store and online sales based on industry data sources. It gives users an integrated view of market performance by tracking dollar and unit sales to the brand level across categories in multi-outlet, dollar, club, specialty and online retailers. The company noted that more than 75% of the $1 trillion dollars in measured sales for the solution come from retailer-direct point-of-sale data.
Also new is OmniConsumer, which integrates three panel datasets into a single platform to allow for longitudinal tracking of consumer purchase behavior across channels. The three panel datasets include IRI’s 100,00-household scan panel, a 70-million-household loyalty card panel and CoinOut’s receipt panel. The company closed the acquisition of CoinOut on March 31.IRI said that OmniConsumer helps provide scale and granularity when measuring omnichannel purchase behavior.
“The combination of these three panel datasets, calibrated to POS data, into OmniConsumer’s one integrated system creates an omnichannel solution that is truly unmatched in its scale and granularity,” said Jeremy Allen, IRI’s president of market and shopper intelligence. “IRI’s industry-leading breadth and depth of data, technology and analytics uniquely position us to deliver the most accurate and actionable insights for our clients focused on today’s omnichannel consumers.”
Currently, OmniMarket is available to IRI clients, while OmniConsumer is set to available for beta testing later this year, with plans to make it widely available by the end of 2021.