Advertisers gain a more complete perspective of incrementality and return on ad spend
IRI announced it is enhancing IRI Lift by expanding the retailer channels included in the solution to capture a broader sales universe. This enhancement will deliver more accurate measurement results and increased sales volume projections across omnichannel retail channels.
“Consumer spending continues to shift toward more diverse retailers and channels, like specialty retailers and e-commerce. Expanding retailer coverage allows IRI clients to understand the holistic impact of media campaigns on sales in all retail channels where their brands are sold”
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IRI Lift integrates IRI’s vast point-of-sale, frequent shopper and causal data with media exposure data for CPG advertisers to maximize their advertising learning agenda, quantify the true return of various activation elements, adjust their campaign strategy, messaging and audiences, and drive optimal performance. By increasing IRI’s retail representation included in omnichannel media measurement, clients will gain a more accurate projection of their sales affected by their advertising. Sales volume projections will increase on average by 25%, across CPG categories, delivering comprehensive campaign measurement coverage. While most CPG categories will benefit from this enhancement, categories and brands within fragrance/skin care, school supplies, pet care, grooming, weight loss and home care will now see the largest benefit of a fuller view of their advertising impact.
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“Consumer spending continues to shift toward more diverse retailers and channels, like specialty retailers and e-commerce. Expanding retailer coverage allows IRI clients to understand the holistic impact of media campaigns on sales in all retail channels where their brands are sold,” said Jennifer Pelino, executive vice president and head of Global Media Solutions, IRI. “By broadening the retail universe leveraged in sales lift measurement, we are driving better accuracy on incrementality and potential for higher return on ad spend across many categories that have significant sales in omnichannel retailers.”
In November, the additional channels, including e-commerce, dollar retailers and specialty retailers, will be infused into IRI sales lift studies and will supplement IRI’s best-in-class brick-and-mortar retailer data set to create a more complete total retail market. IRI’s updated media measurement universe incorporates omnichannel data sources, including in-store and e-commerce, retailer-direct POS, as well as data from CoinOut, IRI’s consumer receipt-scan panel. The latest enhancement further differentiates IRI Lift by providing omnichannel measurement to advertisers across the CPG landscape.