NielsenIQ, an authority in consumer intelligence, has launched Byzzer, a first-of-its-kind platform to provide actionable insights that help small and emerging CPG businesses drive growth and market share. NielsenIQ built Byzzer to specifically address what emerging CPG brands need: simplified, actionable retail insights that fuel faster growth without an army of analysts.
The CPG market does more than $900 billion in annual retail sales, and small and medium-sized brands account for $500 billion of that. In an extremely competitive market, approximately 23 percent of all new items are delisted within the first year, so actionable retail data and analytics are necessary for brand survival.
Small and medium-sized businesses (SMBs) usually lack the budgets and resources of larger companies and understanding what to do with disparate sets of retail data has also been a challenge. NielsenIQ’s Byzzer platform provides CPG brands a tool to both streamline the data and make it understandable and actionable.
“When we founded Shameless Pets a few years ago, we knew we had something special,” said James Bello, founder and CEO of Shameless Pets. “We’re unique, authentic and we live the values we advertise – we knew shoppers would love that. Buyers, though, need to see the data to be convinced. NielsenIQ is finally making that possible for small brands like us by offering accessible, affordable CPG alerts and reports. We’re not just able to get on more shelves – we’re able to stay there by using the data to be really smart with our trade spend.”
The subscription-based platform, powered by NielsenIQ’s retail measurement and consumer panel data, gives SMBs access to brand email alerts and trusted market reports that are affordable, easy to use and provide immediate answers through self-service.
- Brand Business Intelligence Email Alerts: The Byzzer platform sends weekly brand alerts directly to user inboxes that utilize sales data from more than 90,000 stores and 100,000 households. These alerts identify risks and opportunities related to market share, product distribution, pricing, market performance and promotion efficiency; and
- Brand and Market Trend Reports: The platform offers more than 30 reports that can translate a brand’s performance across multiple markets, retailers and product characteristics to help users understand key business opportunities and justify decisions. The reports are used to benchmark sales trends, understand the impact of consumers’ habits on sales and identify business drivers. Byzzer Smart Reports offer recommended actions to take on price, promotion, assortment and market expansion so manufacturers don’t have to mine for insights.
“Data inequality isn’t new to retail. Emerging brands, especially in CPG, are bootstrapping their way to growth when it comes to data because there has never been an opportunity to harness the insights available to larger competitors,” said Susan Dunn, NielsenIQ’s chief revenue officer. “With this launch, NielsenIQ is evening out the playing field; we created Byzzer to give every SMB the insights to create strategies that win more customers, loyalty and shelf space. We’re sparking a revolution that will infuse the marketplace with brand diversity and fresh, innovative products to consumers.”
The Byzzer platform is available in the U.S. market today.