An IRI shelf space and merchandising study helped a client allocate space and increase return on investment.
A client needed to understand the efficiency of space usage within its sector across the retail trade, in order to defend its current space allocation against competitive brands and increase its own on-shelf presence.
IRI used its experienced field workers to record space at item and sector level in a robust sample of stores from nine retailers. IRI's merchandising consulting team then applied store level sales data to these observations. This provided key conclusions and learnings regarding the productivity of space and merchandising practice across the sector.
IRI delivered their conclusions from the space study to an enthusiastic response from the client. They are committed to using the results to:
Understand, identify and target opportunities and gaps to drive new product solutions
Engage with retailers on macro space decisions that they should be making
Own their fair share of space
From the first negotiation using the conclusions from this study, an opportunity was identified to re-allocate space in one category in one retailer, worth £1.6 million. This alone represents a revenue return on investment of over £30 when compared to the cost of the study.
The client was so delighted with the outcome from this study that they have commissioned another four. They will be used as a benchmark against which to measure the success of space to sales targets given to their key account handlers.
For more information please contact your IRI representative or email sales@infores.com
About IRI Information Resources, Inc. (IRI) is the leading global provider of enterprise market information solutions for the CPG, Retail, and Healthcare industries. IRI is the first company to leverage the power of real-time market information, advanced analytic insights, and enterprise performance management technology to improve the profitability and operational effectiveness of the world's leading CPG, Retail, and Healthcare companies. The Company uniquely provides a total view of the market, enabling maximum business performance throughout the enterprise. IRI's solutions make the consumer-driven, real-time enterprise possible.
IRI is the trading name for IRI InfoScan and IRI Software Ltd.