New York-based global marketing research firm Nielsen Corporation announced a strategic partnership with retail technology start-up SnapBizz, headquartered in Bangalore, India, to provide real-time, actionable insights on products and services for retailers and companies in traditional trade.
Traditional trade stores account for nearly 90 percent of the fast-moving consumer goods sector in India. However, unlike in organized retail, very limited data and insights are available in this sector. The Nielsen-SnapBizz partnership brings together the latter’s point-of-sale technology architecture, which is used in 2,500 kirana (mom and pop) stores, and Nielsen’s expertise in the retail data analytics space. The data captured will provide store-level consumer buying insights on real-time promotions, launches, performance, price efficiency, displays and assortment based on consumer buying patterns, reports BrandEquity.
“The partnership will enable unorganized kirana store owners to drive business decisions based on data. Traditional trade will continue to play a very significant role for the country’s retail landscape,” SnapBizz chief executive and founder Prem Kumar said.
