CHICAGO — Two market research companies, IRI® and Label Insight, announced May 28 they will team up to provide enhanced insight on product performance, specifically on ingredients and labeling, to consumer packaged goods (CPG) manufacturers and retailers.
Label Insight will bolster IRI’s Liquid Data®, a technology platform where brands can identify consumer trends and growth opportunities, and allow IRI to track and measure shopper behavior with specific ingredient attributes, such as gluten-free or clean label.
“Shoppers today are very conscious of the ingredients they consume and have been shown to respond to products made from minimally processed, recognizable ingredients,” said Robert I. Tomei, president of market and shopper intelligence for IRI. “IRI’s partnership with an expert in ingredient-level attributes enhances our agile Liquid Data platform by informing stronger and more specific insights and enabling brands and merchants to capitalize on emerging opportunities in real time.”
The partnership will also fold IRI’s point-of-sale and purchase-based data into Label Insight’s ingredient and product label capabilities to help manufacturers and retailers adapt product attributes and marketing strategies to consumer ingredient trends.
Label Insight’s product attribute data is designed to help manufacturers and retailers market products with ingredient claims and health benefits clearly to the consumer, which translates into sales growth for brands.
“We are thrilled to partner with IRI,” added Ronak Sheth, CEO of Label Insight. “This partnership advances our mission to not only help consumers understand what they are putting into their bodies, but also assist CPG companies and retailers drive growth and value by better meeting consumers’ demands for nutrition label transparency.”
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