IRI and Label Insight in Ingredient Insights Partnership

Consumer data giant IRI and product data specialist Label Insight are joining forces, to provide CPG manufacturers and retailers with more detailed insight into product performance based on nutrition and ingredient label data.

The partnership links IRI's point-of-sale and purchase-based data set, drawn from 500 million shopper loyalty cards, with Label Insight's product label and ingredient attributes. This will enable IRI to add hundreds of new attributes to its IRI Liquid Data predictive analytics and insights platform, allowing clients to identify consumer trends. IRI can then track and measure product sales performance and shopper behavior across ingredient and product labeling attributes such as 'gluten-free' and 'clean label'.

Ronak Sheth, CEO of Label Insight, says the deal will not only help consumers understand what they are putting into their bodies, but also assist CPG companies and retailers drive growth and value by better meeting consumers' demands for nutrition label transparency. Robert Tomei, IRI's President of Market and Shopper Intelligence, adds: 'Shoppers today are very conscious of the ingredients they consume and have been shown to respond to products made from minimally processed, recognizable ingredients. This partnership will inform stronger and more specific insights, enabling brands and merchants to capitalize on emerging opportunities in real time'.

Web sites: www.iriworldwide.com and www.labelinsight.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.