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IRI Eyes Real-Time Data: Live from the IRI CPG Summit

By Feb 24, 2004

Information Resources, Inc. will begin providing real-time, SKU-level sales data by year-end. Packaged goods companies can use the retailer-specific scanner data to track promotion performance on a daily basis.

IRI’s “content on demand” initiative will give marketers “daily access to retail data,” said Chairman Romesh Wadhwani, speaking at IRI’s Consumer Packaged Goods Summit yesterday in San Diego.

Wadhwani blames a stall in CPG growth and the industry’s “spectacularly poor job of new-product introductions” on “our inability to understand what the consumer is thinking.” He advises marketers to think of consumers as a relationship, not a transaction.

Chicago-based IRI will focus on analytic tools and expanding data services to retailers to turn around its own stalled growth. The marketing research firm unveiled a new logo and Web site at the conference, and pledged to provide better analysis tools for manufacturers and retailers.