US-based consumer insight specialist Numerator has launched the 'Household Penetration Acceleration Score', to help brands understand the underlying shift in consumer behavior caused by the Covid-19 pandemic, and the rate at which households are buying their products.
Chicago-based Numerator was formed in 2018 when Market Track combined its own brand and that of its subsidiary InfoScout under a single new name. The firm provides omnichannel insight into what, why and how consumers buy, and who those consumers are; mapping 350 psychographic and 150 media consumption descriptions to validate purchasing behavior on a 1:1 basis at scale.
The new Score has been developed to show how demand is building for food and non-food categories, and whether these categories are ahead of or behind where they were in 2019 on a year-to-date basis. The score also provides additional context to help understand demand through buy rate, purchase frequency, and spend per trip. According to Numerator, household penetration is essential for brands planning inventory for second half 2020, and for understanding buying opportunities created during Covid-19.
CEO Eric Belcher (pictured) comments: 'Household penetration is a critical metric in the CPG industry and much of the data being used is incorrect. Brands are relying on data that is familiar, but no longer accurate, given the rise in non-traditional retailers. Better understanding household penetration gives brands a platform for growth'.
Web site: www.numerator.com .
All articles 2006-20 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.