| How does it work?
Each household provides daily information on their purchases of consumer goods for in home use. Collected on a continuous basis, it is possible to measure the ongoing changes and interactions of households purchasing behaviour across all grocery and fresh foods products.
Since each panel is demographically representative, purchasing behaviour is grossed up to represent that of all households. It is also possible to filter purchasing behaviour by discrete demographic groups.
What does it provide and how is it used?
Homescan incorporates both descriptive and diagnostic information. Consumer Panel data provides information on purchaser attributes, purchase behaviour, market penetration, share of category requirements, brand loyalty, brand switching and parallel consumption plus a wide range of other powerful analytics. The rich database not only tells you what is happening but, more importantly, it provides insights into why consumers behave the way they do.
Homescan allows you to know your consumers better, understand what motivates them to buy and answer consumer issues. Having insights into consumer purchasing behaviour enables you to maximise the potential for your brand(s) by providing focus on what marketing strategies may be necessary to change or reinforce consumer behaviour.
Features
- Representative panel to match total household population
- Continuous reporting, every shopping occasion
- Unbiased panel incentives
- Same households over time
- Actual purchase data not recall based
- Current and historic data available
- Data delivered via easy to use and powerful software applications
Applications – Using Homescan
Collected by individual households and by individual product, Homescan information is granular in detail. Its depth can produce revealing analysis and help answer questions such as:
- How many households purchased my product on a trial basis? Did they return later to purchase again?
- What did my buyers purchase before my marketing campaign, what did they purchase subsequently?
- Where did buyers of my brand come from?
- What else do my buyers purchase?
- Where else do my buyers shop?
- How store loyal are my shoppers?
- What is the demographic composition of my buyers?
- How do lifestyles and attitudes impact purchasing behaviour?
The analysis process can be broken down into 5 core parts:
Brand and Market Tracking
Keeping a close eye on the markets is essential if you are a manager making sales and marketing decisions. Homescan will help you keep abreast of markets and brands in terms of volume, value, structure and trends. Specifically, information is available for Share of Volume/Value, Share of Buyers, Weight of Purchase, Price, Loyalty, and Brand interaction.
Consumer Dynamics
Markets are driven by consumer dynamics, so the next step is to understand what consumers are doing to drive market changes. Homescan and Homepanel market analysis provides the basis for a complete understanding of consumer behaviour, via Consumer Diagnostics such as Demographics / Buyer graphics, Target Group Analysis, Loyalty and Repertoires, Frequency of Purchase, Pricing Analysis, Promotion Evaluation, New Brand Launch Evaluation, and Gains & Loss / Brand Switching.
Sales Management and Category Management
As with markets, consumers interact within the distribution channels, and thus influence sales based on their behaviour at a retail level. Homescan and Homepanel will enable you to better understand what consumers are doing by key retailer and distribution channel to help you develop the most appropriate retail based strategies, via a better understanding of such things as: Retail Share of Trade, Retail Traffic, Size of Basket, Store and Category Loyalty, Shopper Demographics, Shop Traffic Trends, Retail Switching Trends, and Total till Roll.
Strategic Planning
Having a clear understanding of your markets, consumer diagnostics, and the distribution channel will help you develop much better quality, and more focused strategic planning. Homescan information can be merged with other data sources, and your own internal planning to ensure that consumes are included into all your strategic planning initiatives.
Globalisation
As the world becomes smaller via our continuous moves towards globalisation, the worldwide Homescan panel will help you benchmark your local markets to those of other nations. You are able to measure consumer variables at a total market, product, or retailer level across different countries to help identify growth opportunities for new products, or new consumer based initiatives.
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