New Nielsen BASES Service Pressure Tests The Retail Readiness Of New Product Launches
NEW YORK, May 22, 2019 /PRNewswire/ -- Today, Nielsen (NYSE: NLSN) BASES announced the launch of Retail Ready, a new service for packaged goods manufacturers of all sizes, aimed to help companies win retail distribution for new products.
Distribution is essential for new products. Consumer packaged goods (CPG) categories are becoming more crowded and retail shelf space is at an all-time premium. The beer category is a good example of these competitive dynamics. According to Nielsen IPM data, between April 2018 and July 2018 alone, the U.S. beer category saw more than 1,200 innovations enter the space. Competition is fierce. Manufacturers don't always have the best analytics to fight for shelf space for their innovations, and retailers often wish they were presented with more predictive analytics during retail sell-in discussions.
Nielsen BASES Retail Ready provides the right competitive analytics for new products to demonstrate value to retail buyers in a language that matters to them. Retail Ready uses a predictive choice-based method, which mimics the choices made at shelf. Then, Nielsen's objective methods and expert consulting provide a recommended sell-in approach that will resonate with the retailer. Nielsen makes it easy because we do all the heavy lifting to provide rigorous, relevant and reliable inputs to manufacturer's sell-in stories in just three weeks.
Retail Ready has already seen strong results in beta testing. According to Laurie McKinley, Director of Brand Strategy & Business Development, This Little Goat, a Chicago-based, fast-rising condiment company, "the data from Nielsen BASES' Retail Ready solution armed me with a comprehensive story on how the brand could grow the category by attracting non-buyers and trading up existing buyers. I received great feedback from the retail buyer and was able to successfully sell in new items."
"As categories become increasingly competitive, retailer buyers are forced to make challenging assortment decisions every day," said Jeff Claypoole, Senior Vice President of BASES. "We know that our manufacturer clients struggle to bring retailer buyers the best analytics when selling in new items. With the introduction of Retail Ready, we are able to deliver BASES' industry leading choice-based behavior at a speed that supports the retail sell-in process. Our model is proven to correlate with in-market results."
Nielsen BASES Retail Ready is available now in select markets, globally. For additional information on this new innovation service please go to innovation.nielsen.com/bases-retail-ready.
Nielsen Holdings plc (NYSE: NLSN) is a global measurement and data analytics company that provides the most complete and trusted view available of consumers and markets worldwide. Our approach marries proprietary Nielsen data with other data sources to help clients around the world understand what's happening now, what's happening next, and how to best act on this knowledge. For more than 90 years Nielsen has provided data and analytics based on scientific rigor and innovation, continually developing new ways to answer the most important questions facing the media, advertising, retail and fast-moving consumer goods industries. An S&P 500 company, Nielsen has operations in over 100 countries, covering more than 90% of the world's population. For more information, visit www.nielsen.com.
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