One of the advantages to the data collected by retailers’ loyalty programs for manufacturers is the ability to understand who purchases their brands and what the shopping missions are for those who purchased the products.
Any brand manager would want to know the demographics of who is purchasing their brands. This is easy to accomplish with the Who Buys report in ToolBox Solutions’ Advantage Loyalty solution. The Who Buys report is a profiling report by demographics and shopping behaviour that lets users see the unique appeal of a brand versus competitors. It can also highlight opportunities in the category for line extensions or new brand launches if a demographic is underserved. Did a marketing campaign or line extension connected with the expected target audience? The Who Buys report can easily answer that.
A brand manager should also understand the characteristics of who is purchasing their products and what need state they are in when making a shopping trip. Basket analysis can answer that by analyzing what else is being purchased with a brand and comparing that against the average basket to create a significance index. The more likely that product is likely to be purchased with a brand versus the average basket, the greater the significance index. The lifestyle that the shoppers lead can be ascertained. Purchases of isotonics and protein can allude to a fitness heavy lifestyle. Shopping missions for diet supplements and artificial sweeteners can signify consumers looking to diet or improve their lifestyle. These insights can be useful for marketing and promotional opportunities.
Lastly, the Cross Shop report can identify the power of the brand and what the true competition of the brand is. It tracks the buyer of each brand over a time period and identifies what else they purchased at any time during that period. A brand’s power can be ascertained by the exclusivity that shoppers have for the brand. The higher the exclusivity, the greater the argument for keeping our products into lower planogram sizes and the greater the argument for innovation to be listed. This gives a very good indication as to a brand’s competition is for its consumers. It is clear that the brand posing the largest competitive threat to a brand is the one where the interaction between the two is greatest.
Who Buys, What Else Did My Customer Buy, and the Cross Shop report are three key reports in Advantage Loyalty to profile a brand and gain insight to increase a brand’s market share.
