On & Offline Demographic Reporting Disrupts Conventional Market Share Measurement
Chicago, IL — April 27, 2021 — Numerator, a data and technology company serving the market research industry, has announced the launch of an omnichannel market share measurement system for CPG brands and retailers, called TruView. Market share is a primary metric used to evaluate brand performance by brand manufacturers, retailers, and industry and sell side analysts. Numerator TruView modernizes market share measurement to seamlessly measure in-store, online and emerging retail channels.
The current industry practice is to measure market share using aggregated point-of-sale (POS) data. POS data falls short on reflecting the market with the rise in eCommerce, a lack of visibility into growing private label brands masked by retailers, and contracting sales covered by retailers willing to share the data required to participate in POS aggregation. This narrows the scope that POS covers. Numerator estimates that more than half of all shopping (55%) is now taking place outside of the retailers POS can see, including eCommerce.
TruView solves this industry shortfall using consumer-sourced purchase data at a scale never previously available and is powered by a 1+ million household panel that Numerator announced earlier this month. Because the data is consumer-sourced and at massive scale, TruView allows brands and retailers to look at market share by the people who buy the products, not just at the stores that sell them. For example, brands can see their market share among Hispanic Millennials in California.
“Today’s launch of a consumer-based, all channel market share measurement solution represents a major milestone in our industry. POS-based share measurement was created decades ago when consumers had fewer choices, resulting in far more uniform shopping behavior than we see today,” said Eric Belcher, CEO, Numerator. “We believe the primary measure of market share in the future will capture all shopping channels that consumers utilize, will allow a marketer to know the consumer segments behind a purchase, and will also be available in near real-time.”
To illustrate the importance of full channel visibility in market share, the example below shows market share data for brands in the Body Skin Care category in Food, Mass and Drug stores relative to the full omnichannel. It shows Gold Bond dropping from its #1 market share of 11.4% in Food, Mass and Drug stores to the #2 position at 7.2% in omnichannel share. This type of share shifting is critical as consumer buying continues to migrate online, with the rise in small format stores, and with accelerated acceptance of private label brands.
| MARKET SHARE FOR BODY SKIN CARE | ||||
| Food, Mass, Drug Stores | Food, Mass, Drug & Club Stores | Full Omnichannel | Point Difference between Omni & FMD Share | |
| Bath & Body Works | 0.1% | 0.1% | 14.8% | 14.7 |
| Gold Bond | 11.4% | 10.1% | 7.2% | -4.2 |
| Nivea | 9.8% | 8.7% | 6.5% | -3.2 |
| Aveeno | 7.2% | 9.1% | 6.2% | -0.9 |
| CeraVe | 7.4% | 8.5% | 6.1% | -1.3 |
| Jergens | 8.0% | 7.7% | 5.5% | -2.5 |
| Vaseline | 6.9% | 6.3% | 5.0% | -1.9 |
| Eucerin | 7.2% | 6.4% | 4.6% | -2.6 |
| Cetaphil | 3.7% | 6.3% | 4.2% | 0.5 |
| Private Label | 5.9% | 5.2% | 3.6% | -2.4 |
Source: Numerator TruView, 2/1/2020 – 1/31/2021
In addition to omnichannel and demographic market share, TruView offers:
- Speed: with data as recent as three days after consumer buying.
- Flexibility: an easy-to-use platform allowing users to filter share parameters.
- Convenience: includes dashboards designed for use in Board level materials.
TruView is now fully commercially available. The product incorporates feedback from months of beta testing with fast moving consumer goods companies, including companies that rank in the Fortune 500. Data is shared in a dynamic, interactive platform allowing for on-the-fly exploration and drill downs. This allows brands to adapt data presentations (e.g., to retailers) in real-time, rather than create presentations with fixed data in advance.
About Numerator
Numerator is a data and tech company bringing speed and scale to the market research space. Headquartered in Chicago, IL, Numerator has more than 2,400 employees worldwide. The company blends proprietary data with advanced technology to create unique insights for the market research industry that has been slow to change. The majority of Fortune 100 companies are Numerator clients.
View this release on PR Newswire.
