In the world of general merchandise retail and foodservice, understanding what drives performance has become increasingly fluid and nuanced. To stay ahead of trends and understand the levers that influence purchase decisions, manufacturers and retailers need a comprehensive view of consumer buying behavior. The granular level of detail required has not been available until now.
With Checkout Tracking℠ the general merchandise retail and food service industries now have access to the most thorough information on consumer buying behavior at the market basket level, based on receipts for both online and brick-and-mortar retail purchases. It’s precise, item-level purchase detail linked to buyers and their demographics. The data comes from large-scale longitudinal panels, making it possible to study the same consumers over time, analyze competitive market baskets, and identify purchase patterns. Information is collected from more than 50,000 consumers from NPD’s receipt-harvesting mobile phone app and the scanning of more than 2 million active in-boxes for e-receipts through Slice Intelligence. Both online and in-store data covers purchases at the category, brand, and item levels.
Read a Case Study on how one QSR found and exploited a competitors’ weakness using Checkout Tracking.
Checkout Tracking can help you answer these questions – and many others:
- What are my buyer metrics, like penetration, visit frequency, market basket, and share of wallet?
- Can I get a total view across categories and channels?
- How can I pinpoint opportunities to increase the size and scope of consumers’ market baskets?
- Can I explore cross-purchase behavior in a single shopping trip, by retailer, segment, and/or item?
- Will I be able to understand purchase patterns over time?
- I have a specific question about my business, can Checkout Tracking help?