Veloxity’s data profiling platform offers a unique solution for optimum product distribution and sales channel management by combining its human behavioral insights with shopping basket information embedded in sales channel applications.
The FMCG industry sell their products via 3rd party sales channels such as supermarkets or e-shopping marketplaces rather than running physical stores or directly selling products online.
Lack of face to face consumer interaction is one of the biggest creates significant problems particularly for new product design/launch and product distribution to correct sales channels.
Sales channels/shopping basket data alone is very inadequate explaining the underlying reason behind consumers purchasing decisions and addressing these problems.
In order to overcome the issue of inadequate consumer purchasing behavior information, FMCG companies mostly rely on expensive and time consuming customer surveys, study groups and market research channels, despite their well-known limitations.
Some companies have started using digital data by collecting digital traces of consumers but they either end up buying the purchase information from their sales channels or creating loyalty programs served in their own mobile apps to enable them to collect consumer info.
Unfortunately, loyalty apps mostly attracts promotion lovers which is a small fraction of FMCG consumer segments.
Veloxity’s human behavior data derived from location, network usage, device usage, lifestyle, lifestyle changes and customer profiling intelligence is the essence for in-depth understanding the reasons behind purchasing decisions and habits.
When combined with the shopping basket information, it becomes a very powerful decision-making tool by introducing causality of the purchasing decisions and this is exactly what FMCG companies need for optimizing their distribution/sales channels and increase revenue.