Coles in partnership with IRI will provide suppliers with a great insight into customer needs, utilising data from more than 2500 supermarkets, Coles Express convenience and Coles Liquor stores.
Last year IRI was named Coles’ sole provider of scan data and analysis drawn from all Coles businesses, providing subscribing suppliers with sales data for their products and the categories in which they operate, to help them plan for their business and identify growth opportunities.
Coles is now launching Coles Synergy, a new data analytics tool utilising IRI’s Liquid Data platform (ILD), which is used by major international retailers including Morrisons, Waitrose and Boots in the UK, Kroger and Albertsons in the US, Sobey’s in Canada and Conad in Italy.
“Coles Synergy will allow suppliers to view all relevant market insights across our business, using the same measures that we use within Coles,” says Coles Chief Executive Commercial and Express Greg Davis.
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“Having a common understanding of the market will make joint business planning easier and foster deeper relationship so we can work together to bring innovative products and great value to our customers.”
As part of its strategy to inspire customers through best value food and drink solutions, to make lives easier, Coles utilises insights drawn from more than 1 billion customer transactions per year to inform key operational decisions including changes to product ranges, demand forecasting and promotions.
Managing Director for Asia Pacific at IRI, Paul Hinds says: “The strategic partnership with Coles builds on our ongoing momentum within the retail and FMCG sectors, both locally and globally. This, together with IRI’s extensive experience in understanding the Australian shopper and grocery landscape, will help Coles and its supplier partners attain an enhanced understanding of the Coles customer and win together.”