For manufacturers and retailers, knowing what consumers are buying—and how—fuels more informed strategies to grow their businesses faster. In today’s world of disloyalty and ample choice, shoppers and buyers hold the keys to hidden growth potential and success. What happens in their homes is a catalyst for what happens in stores and across categories.
To help manufacturers and retailers better understand the “how” behind consumer purchasing behavior, we recently launched our Ultimate Guide to Nielsen Consumer Panel Services (CPS). This engaging and interactive learning path showcases how our clients can use our consumer data to capture more actionable insights, draw conclusions about what drives business and meet consumer needs more effectively.
Through CPS, Nielsen panelists use our mobile technology and robust practices to share what they buy for household or individual use, where they buy it and what product characteristics prompt them to buy. When clients segment these shoppers using our demographic data, they can influence consumer buying trends in their favor with tailored marketing campaigns, pricing and promotional strategies, and assortment availability.
Once collected, we validate and input the data into our master library. After that, we use advanced statistics and data science to ensure our data accurately reflects each market, so clients can use it to understand the purchasing behaviors that explain sales.
Our CPS guide builds on our Ultimate Guide to Nielsen Retail Measurement Services (RMS), which helps our clients better understand how Nielsen estimates data to provide the best market read possible.
Similar to our RMS guide, our new CPS learning materials include videos, job aids and interactive activities to guide clients in how to best use panel data. Topics include an overview of our consumer panel and panelists, item collection and coding, new product development, buyer overlap, segmentation with demographics, category or retailer opportunity, shifting, assortment—and more.
Retailers and manufacturers can use the interactive activities to test their knowledge on the subject and to connect theory with application. They have the opportunity to learn how to work with Nielsen data, but also how to get the most out of it to grow their business.
For more information about how Nielsen captures and analyzes the data that underpins our best-in-class global measurement, visit Nielsen’s Ultimate Guide to Consumer Panel Services.