Category management tool delivers insight into specific product attributes
Chicago-based Label Insight introduced Explore Plus for Category Management, which enables Label Insight's high-order attribute data, images and unmasked information on private brand products to be combined with market measurement tools to deliver insights on specific product attributes. As a result, category managers can identify growth opportunities, discover attribute-driven category insights and create a strategy focused on category-specific trends.
Explore Plus makes even the largest set of on-package, off-package and derived product attributes visible, including unmasked private label product information, available for export via download or API. The platform features a unique Compare Tool, which allows for multiple products and attributes to be reviewed side-by-side. And, with high-quality images of the packaging in-line to the data, users can see how attributes are activated in marketing and physical packaging in one interface.
Explore Plus also combines total market measurement solutions, such as Nielsen Answers OnDemand, which enables brands to power innovations in the Category Management 2.0 framework, including the development of decision trees, attribute driven assortment optimization, what and why phase analysis and scorecard development.
For example, data from Nielsen Product Insider powered by Label Insight shows that the ice cream category grew a mere 1.6% in the last year. It also identified a growing trend toward protein, which accounted for only 3% of category dollars, but experienced more than 50% growth. The data also uncovered a key emerging trend for milk-free options. While this group only accounts for 3% of total ice cream category dollars, sales of milk-free ice cream products grew by nearly 20% in the last year.