mySupermarket launches industry first Favourites analysis tool
British retail technology service mySupermarket has launched an industry-changing tool that will enable brands to understand their share in shoppers’ favourite lists.
Recognising that 53%* of shoppers make product selections online using Favourites, the tool will provide brand managers and marketers with real-time analytics to discover brand performance within retailer favourites.
Launched today as part of the company’s proprietary platform – the mySupermarket Online Category Management Tool – the Favourites report will represent actual online shopper activity from the website’s consumer facing platform, mySupermarket.co.uk.
mySupermarket CEO Gilad Simhony said the tool had been developed in response to consumer shopping preferences.
“Online shoppers are unlikely to scroll through pages of results to find a suitable product, similarly as when they are in store, they don’t go down aisles they don’t need to,” he said.
“Knowing how your brand fares in Favourites is critical to success. Understanding the entire customer journey will enable you to better understand where your digital investment should be prioritised.”
The new tool will enable FMCG brands to track and analyse their products’ performance within six UK retailers’ favourites – Tesco, Asda, Sainsbury’s, Morrisons, Ocado and Waitrose.
They will be able to determine, on an individual SKU level, their share of category compared with top competing brands and track the performance over time.
They will also be able to examine shopper behaviour, and determine:
– How many users have their brand exclusively in Favourites within the brand’s category
– How many users buy a mixed selection – i.e. their brand and competitors
– How many users buy only competitors’ brands
The Favourites tool will join several new reports on the category management tool, including portfolio analysis, availability data by branch level, content compliance guidance and shelf and search placement to create a powerful tool for marketers and e-commerce managers in the online FMCG industry.
Mr Simhony said the tool will also be able to pull data from international markets in the coming months.
“We are already tracking grocery rich data for several brands in France and other European markets and look forward to expanding our category management tool beyond that,” he said.
“We will be able to see data by store level and eventually hope to add more and more layers to create a global tool.”
mySupermarket already works closely with brands to help them to increase sales performance by fixing the basics, understanding their online shoppers, testing and optimising their marketing, influencing shoppers and re-messaging. In addition, the company also provides customised reports and insights for government organisations, investment banks, hedge funds and other analysts.
To get an understanding of how the Favourites tool works, please click here.
To access the mySupermarket Online Category Management Tool, register here.