Makes sense to get multiple sources, at very least to check the accuracy of predictions. And inthis case because shoppers usually go to many places, tracking their behavior completely may require that. But in practice than can be a luxury. Sometimes you may have to build data predictive models. Or create data prediction with shopper lab experiments or crowdsourcing.
Pfizer relies on multiple data sources for better shopper insights
By Pat Lenius in Retailwire (Much more at the link)
By mixing and matching data resources, Pfizer Consumer Healthcare, the maker of Advil, Centrum and other over-the-counter (OTC) brands, has been able to target shoppers more effectively and identify growth opportunities for its retailer customers.
“It’s all about marketing and personalization. It’s no longer one size fits all. Where is my customer shopping,” said Amy Joyce, director-Walmart shopper and category insights to activation for Pfizer Consumer Healthcare, at the 2019 Shopper Insights & Retail Activation conference in Chicago. “The data sources I use include Path to Purchase Institute, Mintel, WSL, Kantar Consulting.”
She said using multiple sources of data generates more tools and more information for omnichannel insights. By relying on these multiple data sources to look at emerging shoppers/consumers of its product categories, Pfizer discovered a $130 million opportunity for Retailer X via driving shopping trips and online spending by boomers, based on data from IRI and Numerator.
It’s not just where the dollars are going, but what they are buying at the competing store that proved to be helpful information. By using multiple sources of data, Pfizer was able to learn about the categories, brands and items those boomers were buying at the other stores. ..... '
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