Nielsen, a data analytics company, has added a new product solution to its shopper toolkit.
Dubbed SMARTSTORE, the new offering is a creative and unique solution which helps retailers and manufacturers get closer to shopper behaviour at the moment of truth and uncover "what's next".
The solution allows retailers to measure, evaluate and optimise a range of retail concepts on sales and profit, based on how target shoppers react at the moment of truth, in any store format. In addition, the solution helps measure the effectiveness of point of sale merchandise (POSM) based on what shoppers "see, think and do".
Sue Temple, executive director, Nielsen Shopper, said: "This solution has been put together using the latest virtual reality technology available and adapting it to create a unique, fully immersive shopper research and merchandising solution. We have partnered with our clients through our SMARTSTORE development process in pilot projects over the last several months to make sure it meets their needs as we bring SMARTSTORE to life."
Temple added that the company is excited with the launch and is hoping this will drive greater insights into shopper behaviours at the moment of truth and build collaborative partnerships between retailers and manufacturers in the UAE.
"The challenging market environment has spurred changes to consumer shopping mindsets and behaviours. With shoppers increasingly rationalising their spent, in-store execution and shopper activation take centre stage. It is essential that manufacturers and brand owners understand in-store shopper behaviours and priorities, in order to lure them with the right offerings," said Arslan Ashraf, managing director, Nielsen Arabian Peninsula and Pakistan. "The introduction of SMARTSTORE is a testimony to our innovation capabilities. This cutting-edge solution enables our clients to project results which are close to reality and plan for what's next in order to win in the marketplace."