PORT WASHINGTON, NEW YORK, June 16, 2015 – The NPD Group, Inc., a global provider of market and business solutions, today announces its Checkout Tracking℠ retailer launch, a tailored solution specifically designed to meet retailers’ unique needs for measuring consumer buying behavior at the market basket-level, based on receipts for both online and brick-and-mortar retail purchases.
Checkout Tracking for retailers creates unique value by tracking the same buyers’ receipts over time and across industries, providing retail clients an omni-channel view of the data to conduct consumer strategy reviews, merchandising planning, online assortment planning, competitor analysis and better informed new product development. Tailored with retailers in mind, this new enhancement to Checkout Tracking offers syndicated and ad-hoc analyses covering sales tracking, sales drivers, market basket, share of wallet and retailer profiles.
“Checkout Tracking was designed to help our clients fill the gap in general merchandise retail industry knowledge, specifically to understand where customers are spending and what their market baskets and share of wallet look like over time,” said Andy Mantis, executive vice president of Checkout Tracking. “After the successful implementation of those initial services, we are now focused on our Retailer launch as we continue our strategy of specializing Checkout Tracking to ensure companies in all industries have access to the detailed consumer buying data they need to impact their bottom lines.”
Benefits of Checkout Tracking’s retailer-specific syndicated and ad-hoc analyses include the following features:
- Sales tracking
- Sales drivers
- Market basket
- Share of wallet
- Retailer profiles
The NPD Group’s Checkout Tracking which launched in November 2014 is the first service that provides detailed information on consumer buying behavior at the market basket level, based on receipts for both online and brick-and-mortar retail purchases from the same consumers over time. Checkout Tracking delivers precise category, brand, and item-level purchase detail linked to buyers and their demographics, useful for analyzing competitive market baskets and identifying purchase patterns by tracking more than 30 million items each month from more than 50,000 consumers from our receipt-harvesting mobile phone app and the scanning of more than 2 million active in-boxes for e-receipts.