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IRI Launches Brand Forecast Tool
US retail analytics giant Information Resources Inc (IRI) has launched a solution for consumer packaged goods (CPG) manufacturers and retailers, which enables them to predict the economic factors likely to impact brand or category growth over the next five years.
The new IRI Foresight tool analyzes the effects of macroeconomic activity on consumer spending - including factors such as inflation, interest rates, unemployment rates, property values and credit availability - to provide category-specific forecasts.
IRI has completed analyses on approximately 25 categories for both CPG firms on national brands and large retailers on private brands. The firm says this has already provided a broader perspective on the effects macroeconomic indicators have on their performance.
'Consumer shopping behavior is increasingly being influenced by external factors like the economy,' states Mark Anton, VP of Consumer Marketing Insights for L'Oréal Consumer Products Division. 'The economy clearly has to be incorporated into our understanding of how these dynamics impact category trends, and IRI has worked with us to customize this analysis and ensure that it is consistent with how we manage the business.'
IRI is currently planning the launch of two further products, Total Store Advantage (TSA) and Total Store Advantage Wall Street Edition, which enable investors to view company and key competitor performance across categories, aisles and departments.
Earlier this week, the company acquired sister firm Hendry Corporation, which provides information on how consumers make purchase choices across a wide range of categories and industries.
Web site: www.infores.com .
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