Retailer's loyalty data provides clustered insights
In the US, Stop & Shop has expanded its use of the Loyalty Analytics Assortment Planner solution from Information Resources Inc (IRI) to help create more customer-centric product assortments in both Stop & Shop and Giant Food stores, using store clusters based on customer loyalty programme data.
The expanded technology partnership aims to help Stop & Shop better align its product mix with customer demand in each of its stores, and is tied to the company's Value Improvement Programme (VIP).
Aggregating store data Stop & Shop will use the solution to integrate multiple data sources for better business analytics and planning, including internal and syndicated point-of-sale, financial, customer loyalty, shopper panel, and space planning data.
The integration of these data sources is expected to encourage organic sales growth through more effective assortments in each location, and also help to reduce out-of-stocks through more effective shelf planning.
Tapping loyalty data for insights "By integrating previously untapped customer and loyalty data insights we are taking a whole new approach to the way we create assortments," explained Don Sussman, executive vice president of merchandising and supply chain for Stop & Shop.
Specifically, the IRI system aims to provide several key benefits for Stop & Shop:
- Better business results from customer relevance;
- Cut planning cycle times by automating data preparation processes;
- Define store clusters based on loyalty data and behavioural segments;
- Reduce errors by integrating multiple data sources;
- Improve decision making through simulated scenario planning;
- Provide feedback and scorecards using financial and customer metrics;
- Allow internal & external users to share, review, and edit assortments.