Chicago, IL—IRI and Label Insight are joining forces to provide CPG manufacturers and retailers more detailed insight into product performance, according to a press release. The partnership links IRI’s point-of-sale data and purchase-based data set with Label Insight’s product label and ingredient attributes.
Label Insight generates CPG product attributes to help manufacturers and retailers better market products based on health benefits and ingredients, the release says, helping consumers understand the products they’re buying.
IRI will add hundreds of new attributes to its IRI Liquid Data technology platform, the release says, allowing clients to identify consumer trends and find opportunities for growth. The new attributes, supplied by Label Insight, allow IRI to track and measure product sales performance and shopper behavior across ingredient and product labeling attributes like “gluten-free” and “clean label.”
Robert I. Tomei, president of market and shopper intelligence for IRI, said in the release: “Shoppers today are very conscious of the ingredients they consume and have been shown to respond to products made from minimally processed, recognizable ingredients. IRI’s partnership with the expert in ingredient-level attributes enhances our agile Liquid Data platform by informing stronger and more specific insights and enabling brands and merchants to capitalize on emerging opportunities in real time.”
Ronak Sheth, CEO of Label Insight, said in the release: “We are thrilled to partner with IRI. This partnership advances our mission to not only help consumers understand what they are putting into their bodies, but also assist CPG companies and retailers drive growth and value by better meeting consumers’ demands for nutrition label transparency.”