Chicago-based NielsenIQ announced the addition of Bellevue, Washington-based Pacvue to the NielsenIQ Partner Network, an open ecosystem of tech-driven solution providers.
According to eMarketer, retail media investment will reach $55 billion by 2024. This shift requires proper omnichannel sales measurement, granular and accurate online product availability, and quality data to drive media performance, profitability and grow market share.
“For the first time, brands can directly measure the impact of digitally native activity and investments on both in-store and online market share ”said Justin Belgiano, SVP of e-commerce and omnichannel measurement, NielsenIQ.
“Pacvue’s software suite for e-commerce advertising, sales and intelligence, combined with Data Impact’s digital commerce, granular location-based analytics and insights, will allow companies to drive omnichannel promotion, advertising activations and grow their business across critical retailers.”
Together, clients will be able to connect the value of retail media investments to its market impact and answer questions the industry has had since online advertising began:
- How does my investment at Amazon impact my sales there and in other channels?
- How correlated is ROAS across different keyword types and assets to true incrementality and total sales performance?
- How effective and efficient is retail media versus other investment choices regarding capturing market share growth?
“NielsenIQ is recognized as the gold standard in the CPG industry, with brands and retailers already relying on NIQ for valuable macro-level trends, category rankings, competitive insights, and market performance data,” said Melissa Burdick, president, Pacvue.
“With our partnership, brands will be able to optimize omnichannel promotional activities at the store level and measure their impact with location-based analytics and insights powered by Data Impact, rule, and AI-based retailer-level media and operation engine from Pacvue, and NIQ’s omnichannel category sales and share platform.”
For additional information, visit nielseniq.com.