Nielsen BASES has announced the launch of Retail Ready, a new service for packaged goods manufacturers, which aims to help companies win retail distribution for new products.
The company highlights that consumer packaged goods (CPG) categories are becoming more crowded, and retail shelf space is at an all-time premium. The beer category is a good example of these competitive dynamics. For example, according to Nielsen data, the beer category saw more than 500 innovations in France, and 350 innovations in the UK enter the space between April 2018 and July 2018 alone.
With competition so fierce, manufacturers don’t always have the best analytics to fight for shelf space for their innovations, and retailers often wish they had more predictive analytics during retail sell-in discussions.
Nielsen BASES Retail Ready aims to provide the right competitive analytics for new products to demonstrate value to retail buyers in a language that matters to them. Retail Ready uses a predictive choice-based method, which mimics the choices consumers make when looking at the shelf in store. Then, Nielsen’s objective methods and expert consulting provide a recommended sell-in approach that will resonate with the retailer. Nielsen helps provide rigorous, relevant and reliable inputs to manufacturers’ sell-in stories in three weeks.
The company claims that Retail Ready has already seen strong results in beta testing. Laurie McKinley, Director of Brand Strategy & Business Development at condiment company This Little Goat said: “The data from Nielsen BASES’ Retail Ready solution armed me with a comprehensive story on how the brand could grow the category by attracting non-buyers and trading up existing buyers. I received great feedback from the retail buyer and was able to successfully sell in new items.”
Jeff Claypoole, Senior Vice President of BASES commented: “As categories become increasingly competitive, retailer buyers are forced to make challenging assortment decisions every day. We know that our manufacturer clients struggle to bring retailer buyers the best analytics when selling in new items. With the introduction of Retail Ready, we are able to deliver BASES’ industry leading choice-based behavior at a speed that supports the retail sell-in process. Our model is proven to correlate with in-market results.”
