Infoscout, a shopper-research firm fueled by mobile shopping apps has closed a $16 million Series B funding round, according to Advertisting Age. The firm will use some of that cash to buy grocery shopping app Out of Milk to bolster its access to supermarket purchase data.
For years food brands have nurtured and harvested crops of data in the hopes of uncovering new kernels of information about grocery shoppers -- information grocery retailers have historically hoarded. Now they're investing in new technologies that circumvent the sellers and go straight to consumers for data on who's buying what and where.
Even before the mobile shopping-app explosion, CPG brands had a variety of data sources showing information about product purchases and shopper demographics as well as helping connect dots between promotions, ad campaigns and sales. But brands still complain about not having enough insight into who's buying their stuff and why or how their products fit into the larger shopping cart of purchases. They also feel they're not getting data fast enough.
For example, a CPG manufacturer might have access to data showing a brand promotion resulted in a sales lift, but still have no idea whether the campaign attracted new buyers or brand loyalists who simply stocked up.
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