Retailers join forces with iri to launch new supplier insights portal
Convenience retailer, Co-op and its wholesale subsidiary, Nisa, have join/ed forces with leading customer loyalty specialist, IRI and its wholesale arm, SalesOut, to launch Hive – a cutting-edge new insights portal which will enable even closer collaboration between buyers and suppliers.
The online platform, which is set to be the most comprehensive multi-channel solution of its kind in Europe, integrates multiple data sets to provide intelligence across a variety of sectors including category sales performance, ranging, supply chain, pricing and customer behaviour. It will encompass activity across the Co-op’s 2,500 UK stores along with Nisa’s 2,500 local, independently owned outlets.
Using IRI’s ‘Liquid Data’ technology, Hive will enable Co-op and Nisa suppliers to gain explicit and clear insights into category, brands and shoppers quickly and easily, ensuring that decisions are made with customers and members top of mind.
Insight into the latest trends, promotional effectiveness and pricing strategies will deliver genuine growth for suppliers and ultimately a better customer experience for shoppers.
Michael Fletcher, Co-op Food’s Chief Commercial Officer, said: “We’re very excited to be launching Hive – Co-op stores serve a wide range of diverse communities across the UK and it’s essential that we harness the power of our collective data more effectively, particularly in times of unprecedented consumer behaviour. IRI and SalesOut have a proven ability to manage and deliver next-level insights across both retail and wholesale and we’re delighted to be forging a new strategic partnership with their teams.”
John McNeill, Nisa’s Chief Operating Officer, said: “Supplier collaboration on such a grand scale will deliver extremely sophisticated insights into our wholesale operation and we’re very pleased to be able to bring Hive to life.”
Jaime Silvester, Retail Director at IRI, commented: “We’re very excited to be embarking on this journey with Co-op and Nisa. IRI’s unique and proven Liquid Data technology combined with our skills and experience delivering customer insight to the UK retail market will provide them both with the ability to make faster, better decisions that drive value for the customer.”
Kirsty Harris Clarke, Managing Director of SalesOut, added: “The power of IRI’s technology and customer loyalty expertise combined with our wholesale experience and insights capability will give Co-Op, Nisa and their suppliers the ability to make quicker and better decisions that ultimately drive value for customers and consumers. We are really delighted to partner with Co-Op and Nisa.”
Hive goes live on 1st July 2020 and will be available to all Co-op and Nisa suppliers.
IRI is a leading provider of big data, predictive analytics and forward-looking insights that help FMCG, OTC healthcare organisations, retailers and media companies to grow. With the largest repository of purchase, media, social, causal and loyalty data, all integrated on an on-demand cloud-based technology platform, IRI guides more than 5,000 clients globally in their quests to remain relentlessly relevant, capture market share, connect with consumers and deliver growth. www.iriworldwide.com. Follow IRI on Twitter.