dunnhumby and Virtual Store Trials partner to deliver virtual retail scenario testing
Solution enables retailers and brands to test retail scenarios in front of real customers in a virtual environment
LONDON, UK – September 20, 2018 – Consumer taste and demand change at lightning speed. For brands and retailers, the ‘race is on’ to keep up by constantly innovating products and approaches to retain and grow their customer base. To succeed in this rapidly evolving market place – retailers and brands need to max the marketing mix with a razor-sharp focus on minimising time to market and costs associated.
To address these needs, dunnhumby today announces its partnership with Virtual Store Trials (VST), the market-leading specialists in testing retail scenarios. This partnership joins world-leading data science from dunnhumby with Virtual Store Trials’ virtual retail scenario testing solution to deliver quick and robust answers to crucial retail questions relating to shelf layouts, signage, pricing, promotions and more. This powerful combination allows brands and retailers to quickly determine the answers to questions like;
- Which products should be placed on shelf?
- Which shelf layouts work best for my category?
- What is the best pricing mix for my brand?
- Which colour packaging is most popular for my brand?
- Which signage educates shoppers?
- Does my NPD stand out on shelf?
Trial and error in a virtual environment can dramatically reduce time to market, allowing the same conclusions as in an in-store testing environment but far more quickly and robustly. The dunnhumby / VST solution allows for the creation of shopper-centric approaches that drive sales and growth while eradicating the prohibitive costs often associated with in-store trials.
"The ease at which thinking can now be tested and benchmarked against other potential ideas is a real game-changer. There are numerous applications within category planning, vision setting, marketing optimisation and innovation, and at every stage, VST provides robust insights to drive decisions while saving time and financial investments" said Jeremy Collins, Commercial Insight Director at dunnhumby. "We are delighted to partner with dunnhumby for their world-leading data science capabilities. We’re looking forward to testing the best and most innovative ideas to identify which ones work best for customers and dunnhumby’s first-class retailer and brand partners." said Nick Theodore, Founder at Virtual Store Trials.
About dunnhumby Ltd. - The world's first Customer Data Science platform
dunnhumby is the global leader in Customer Data Science, empowering businesses everywhere to compete and thrive in the modern data-driven economy. We always put the Customer First. Our mission: to enable businesses to grow and reimagine themselves by becoming advocates and champions for their Customers. With deep heritage and expertise in retail — one of the world’s most competitive markets, with a deluge of multidimensional data — dunnhumby today enables businesses all over the world, across industries, to be Customer First. The dunnhumby Customer Science Platform is our unique mix of technology, software and consulting enabling businesses to increase revenue and profits by delivering exceptional experiences for their Customers – in-store, offline and online. dunnhumby employs over 2,000 experts in offices throughout Europe, Asia, Africa, and the Americas working for transformative, iconic brands such as Tesco, Coca-Cola, Meijer, Procter & Gamble, and L’Oreal.
About Virtual Store Trials. – TEST RETAIL SCENARIOS FASTER
Virtual Store Trials (VST) are the market-leading specialists in testing retail scenarios. Test shelf layouts, signage, pricing, promotions, NPD and packaging in front of real customers using an innovative virtual environment. VST replaces the need for traditional in-store trials by allowing retailers and brands to test concepts quickly, affordably and robustly. VST have been working with the likes of Reckitt Benckiser, Carlsberg, Birds Eye, Sainsbury’s and Tesco and have been featured across industry publications including The Grocer and Retail Tech Innovation Hub. Since the start of 2018, VST have partnered with dunnhumby to combine world-leading data science with getting quick and robust answers to important questions. For more infirmation visit: www.storetrials.com