IRI, Label Insight partner on data insight
IRI is teaming up with Label Insight to offer manufacturers and retailers more insights on product performance based on the product’s nutrition and ingredient label data.
“Shoppers today are very conscious of the ingredients they consume and have been shown to respond to products made from minimally processed, recognizable ingredients,” said Robert I. Tomei, president of market and shopper intelligence for IRI. “IRI’s partnership with the expert in ingredient-level attributes enhances our agile Liquid Data platform by informing stronger and more specific insights and enabling brands and merchants to capitalize on emerging opportunities in real time.”
According to the companies, through this new relationship IRI will now add hundreds of new attributes to its IRI Liquid Data technology platform, allowing clients to identify consumer trends and find previously hidden opportunities for growth. These new attributes will then allow IRI to track and measure product sales performance and shopper behavior across ingredient and product labeling attributes, such as “gluten-free” and “clean label.”
“We are thrilled to partner with IRI,” said Ronak Sheth, chief executive officer of Label Insight. “This partnership advances our mission to not only help consumers understand what they are putting into their bodies, but also assist CPG companies and retailers drive growth and value by better meeting consumers’ demands for nutrition label transparency.”