Oct 29, 2020   SOURCE: BusinessWire

IRI and Label Insight Expand Relationship to Deliver Enhanced Media Solutions Focused on Product Attribute Purchase Motivators

IRI®, a global leader in innovative solutions and services for consumer, retail and media companies, and Label Insight, the industry leader in powering product attribute-driven growth across the consumer packaged goods (CPG) ecosystem, today announced an expansion of their relationship. The companies’ enhanced partnership provides CPG marketers with stronger tools to design marketing campaigns that drive brand growth based on consumer demand for over 500 product-level attributes, such as “gluten-free” and “sustainably sourced,” that span characteristics such as clean label, allergens, sustainability, FDA nutrient claims, health benefits and more.

This expanded partnership wholly integrates Label Insight’s product-level details into IRI’s industry-leading media solutions to allow CPG brands and retailers to better understand shoppers’ interests and tailor more relevant and effective advertising for products that fit their dietary, health or sustainability interests. CPG advertisers leveraging IRI’s new solutions can design campaigns to:

  • Acquire new buyers to a category or brand by using deidentified datasets to distinguish households that purchase other products with attributes the brand offers.
  • Re-engage lapsed or lost buyers by homing in on new or existing attributes and verifications to reposition a brand to shoppers who moved elsewhere in store.
  • Message current and potential buyers with refined messaging by creating aggregated audience segments of brand and category buyers based on the attributes that motivate their purchases and creating unique messaging that will resonate and drive visits.

“For marketers and CPG advertisers, identifying attributes that resonate with consumers is critical to developing the best message, reaching the right shoppers and driving brand growth,” said Nishat Mehta, chief product officer and president of the IRI Media Center of Excellence. “IRI and Label Insight’s expanded relationship more fully realizes the powerful combination of expertise in industry-leading purchase data and product-level attributes to deliver the most accurate, scalable solution for reaching shoppers based on motivating product characteristics.”

“We are thrilled to be deepening our partnership with IRI,” said Todd Morris, chief executive officer of Label Insight. “By doubling down on our combined expertise, we will drive growth and opportunity for our clients by enabling them to unlock the power of product attributes in new ways that connect their consumers to the products that best meet their needs.”

IRI and Label Insight have partnered for over a year to allow IRI to measure product sales performance by both ingredient and product labeling attributes, allowing clients to identify consumer trends and find new opportunities for growth.

For example, in partnership with Label Insight, IRI determined that products labeled “plant-based” grow 17 points faster than those that are not, but 97% of dollar sales for plant-based foods and beverages are generated by products not identified as plant-based on the label, demonstrating an immense missed opportunity for brand and sales growth.

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About IRI

IRI is a leading provider of big data, predictive analytics and forward-looking insights that help CPG, OTC health care organizations, retailers, financial services and media companies grow their businesses. A confluence of major external events — a change in consumer buying habits, big data coming into its own, advanced analytics and personalized consumer activation — is leading to a seismic shift in drivers of success in all industries. With the largest repository of purchase, media, social, causal and loyalty data, all integrated on an on-demand, cloud-based technology platform, IRI is empowering the personalization revolution, helping to guide its more than 5,000 clients around the world in their quests to remain relentlessly relevant, capture market share, connect with consumers, collaborate with key constituents and deliver market-leading growth. For more information, visit www.iriworldwide.com.

About Label Insight

Label Insight drives growth for CPG brands and grocery retailers through unparalleled product transparency. As the trusted partner of over 300 retail banners, over 30,000 CPG brands and organizations including the FDA, USDA and American Heart Association, its best-in-class product attribute data and patented data science empower companies to unlock new growth opportunities both online and in store. Label Insight covers more than 93% of U.S. food, pet and personal care products, and over 99% of all consumer online searches, with a market-leading database of over 200,000 product nutrients, 400,000 product ingredients and 9 million product claims. For more information, visit www.labelinsight.com.