Further Analysis Shows Buy Rate 1.5X Higher Across 500+ Major Categories with Full Market View
CHICAGO, September 25, 2024 (GlobeNewswire) – Numerator, a data and tech company serving the market research space, recently conducted an analysis of 80+ fast moving consumer goods (FMCG) departments to quantify the importance of a single-sourced omnichannel view of consumers when evaluating their spending behavior. The research revealed a vast majority (71%) of FMCG shoppers buy outside traditional Food, Drug, Mass (FDM) channels, and nearly one third of consumers are buying only in non-FDM channels.
“Visibility into cross-channel buying behavior generates an essential view into brand growth and requires single-sourced data, high participation standards, frequent engagement, and close alignment to Census,” said Kelly Dotson, President, Numerator. “Numerator provides the data at scale to understand underlying trends with needed detail and sample, together with comprehensive demographics and psychographics.”
The analysis also looked at the impact of a FDM only view vs. a total channel view on critical growth metrics:
- Across 500+ major categories, the analysis showed that Buy Rate (average amount consumers spend) was 1.5x higher and for some major categories was up to 6 times higher with a full market view.
- Analyzing 300+ major categories that had YoY penetration growth, the Customer Lifetime Value is 53% higher on average, based on the total omnichannel market vs. FDM only.
This analysis was possible after over a decade of investments and innovation by Numerator in growing its panel size while raising panelist standards and building digital collection methods that reveal the importance of understanding purchasing outside of FDM channels.
About Numerator:
Numerator is a data and tech company bringing speed and scale to market research. Numerator blends first-party data from over 1 million US households with advanced technology to provide 360-degree consumer understanding for the market research industry that has been slow to change. Headquartered in Chicago, IL, Numerator has 2,000 employees worldwide; 80 of the top 100 CPG brands’ manufacturers are Numerator clients.
