Coles, leveraging data from more than 2,500 supermarkets, Coles Express convenience and Coles Liquor stores, has partnered with market analytics provider IRI to provide suppliers with insights into customer needs.
The insights are drawn from more than 1 billion customer transactions per year to inform key operational decisions including changes to product ranges, demand forecasting and promotions.
The supermarket chain last year named IRI as the sole provider of scan data and analysis drawn from all Coles businesses, providing subscribing suppliers with sales data for their products and categories.
As part of this partnership, Coles is now launching Coles Synergy, a data analytics tool using 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.
Greg Davis, Coles chief executive commercial and express, says Coles Synergy will allow suppliers to grow their businesses with Coles, through a shared obsession with understanding and meeting customer needs.
“Coles Synergy will allow suppliers to view all relevant market insights across our business, using the same measures that we use within Coles,” he says.
“Having a common understanding of the market will make joint business planning easier and foster deeper relationships so we can work together to bring innovative products and great value to our customers.”
The announcement is the latest in a series of global partnerships and developments through which Coles is building its technology and digital capability.
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at email@example.com