State College, PA, March 9, 2021 - VideoMining (VM), the leader of in-store behavior analytics for CPG retail, announces a new study for the Snacks category, with a special focus to analyze “In-Store Leakage”. The study is designed to help understand how shoppers make purchase decisions across a multitude of snacks categories and to highlight what drives cross-category cannibalization and other types of leakages.
Despite the overall success of snacks, individual categories have suffered from substantial “in-store leakage”, where consumers actively shop and then leave the category without making a purchase. VM Tracker has detected shopper leakage rates of 45%-55% last year for key snacks categories, which indicates a very significant opportunity loss.
The goal of this large-scale study is to understand the behavior of the shoppers who walk away from the snacks categories after actively shopping. Critical questions explored in this study include:
What is their behavior at-shelf before they walk away?
Do they go to other snacks category to buy an alternative snacks product? What else do they buy?
What is their demographics and trip types?
How has the cross-category shopping behavior evolved over the past two years?
What was the impact of the pandemic? Are there any seasonal patterns?
“With the rapid evolution of the snacking landscape and often conflicting consumer trends, shoppers may visit multiple categories to make their final snacks purchase,” stated Dr. Rajeev Sharma, Founder & CEO of VideoMining. “It is important to understand these in-store behaviors, especially of shoppers who walk away after engaging at the shelf, since these insights hold the key to unlocking the untapped potential of each snacks category.”
The insights from the study are designed to help both snacks manufacturers and retailers develop strategies to reverse the opportunity loss for the snacks categories and improve the overall snacks shopping experience. One specific component of this strategy involves identifying best location for secondary displays to drive impulse purchases, especially for emerging snacking products.
The study will leverage shopper behavior data from over 3 billion store trips captured by VM’s AI-powered National panel of stores in Grocery and Convenience channels. The study will be available to participants in VM’s Tracker programs in the two channels, with further opportunity to customize it for specific needs or test innovative ideas in partnership with retailers.
VideoMining (VM) provides in-store shopper behavior data and insights to CPG manufacturers and retailers, creating visibility into the complete “in-store” Path-to-Purchase and helping drive ROI from investments in shopper marketing, category management and store/brand innovation. VideoMining’s client base includes a majority of the top 50 CPG retailers and manufacturers.
VideoMining owns and operates industry’s largest ‘in-store’ panel in partnership with leading Grocery and C-store retailers, tracking 100+ Million trips per month. VM panels are powered by a suite of advanced sensing and artificial intelligence technologies to measure real world, in-context shopper behavior. VM integrates this shopper behavior data with transactions, planograms, loyalty and promotions data providing a 360 degree view of the complete purchasing process.
Media Contact
Murtaza Amil
Email: media@videomining.com
Phone: 800.898.9950
Address: 403 South Allen Street, S101, State College, PA 16801
Website: https://www.videomining.com