Circana Grows Receipt Panel, Adds Hierarchy Tools

Circana is upgrading its Receipt Panel, adding a Custom Hierarchies feature and aiming to grow membership to some 250,000 static panelists by the end of the year. CPG manufacturer clients can now organize purchases from any retailer into their own product hierarchies.

The new capabilities also provide help in interpreting unclear receipt line-item descriptions.

Circana was created following the 2022 merger of global consumer data firms IRI and The NPD Group. Its core and venerable LiquidData product has recently been updated with the addition of LiquidAI, and the company is continually adding features and solutions - this year they include Attribute Marketplace, the Market Share Drivers solution, and Social Commerce, which provides daily insights into the rapidly growing segment.

The new Custom Hierarchies capability within its receipt solution delivers comprehensive CPG item-level coverage at scale across all channels, aligning receipt data directly with the product structures manufacturers already use for POS analysis, to give 'a highly accurate view of purchasing behavior.'

Circana says clients can now easily connect consumer insights with market performance at the UPC level, with the AI-enabled classification 'removing the guesswork from receipt data.'

President of Global Solutions Patty Altman (pictured) comments: 'We are committed to helping our clients move beyond simply understanding what happened in a category to uncovering exactly why consumers are behaving a certain way and how brands can act on it. Custom Hierarchies and our panel expansion reinforce our goal to provide a complete view of the consumer. By combining our unique scale and data assets, we are giving our clients an unmatched ability to view and analyze their business exactly as they choose.'

Home page: www.circana.com .

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