Next month, IRI will enhance its IRI Lift service, an advertising measurement solution, to include sales information related to ecommerce, dollar retailers, and specialty retail channels.
The additional channels will supplement the company’s brick-and-mortar retailer data set to create a more complete total retail market. The company indicated that this would deliver more accurate measurement results and sales volume projections across the omnichannel retail environment.
IRI Lift integrates the company’s point-of-sale, frequent shopper, and causal data with media exposure data for CPG advertisers to quantify the return of activation elements, adjust their campaign strategy, and drive performance, according to a statement by the company.
“Consumer spending continues to shift toward more diverse retailers and channels, like specialty retailers and e-commerce,” said Jennifer Pelino, EVP and head of global media solutions at IRI, in a statement. “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. 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.”
Related: Mixed Results for Online Grocery in Q3; SFA Blog Post: Who, What, Where, When, Why of Today’s Specialty Food Consumers