Label Insight and Nielsen Provide Ingredient-Level Sales Measurement to Non-Food Categories
This morning, we’re excited to announce that Nielsen and Label Insight are expanding the Nielsen Product Insider solution with the ability to measure sales of ingredients and U.S. government-regulated attributes for non-food categories, including personal care, pet food, over-the-counter medicine and vitamins/supplements.
Back in February, we announced the launch of the Nielsen Product Insider solution for food and beverage products, which combined Nielsen’s robust market measurement and panel data with Label Insight’s industry-leading cloud-based product attributes.
Building off the success of that capability, this morning’s launch will enable fast-moving consumer goods (FMCG) manufacturers and retailers to measure sales performance, analyze shopper demographics and create custom segmentation for non-food products. It will also add the ability to assess product trends and personalization needs for health and wellness consumers.
This is the first time that the industry has been given a view into non-food product ingredients, attributes and how those translate into sales, and provides significant opportunities for manufacturers of non-food products to capitalize on previously unrecognized growth potential.
This first-of-its-kind solution, combines Nielsen Retail Measurement data and Label Insight’s ingredient and attribute data to transform on-pack ingredient information, as well as drug and supplement fact panels into measureable attributes. The solution enables manufacturers and retailers of non-food categories to better understand how ingredient-based concepts like clean label, trending ingredients, environmental concerns, and more are performing in terms of dollar sales growth and shopper purchasing behaviors.
Consumers are trying to better understand ingredients today more than ever before, and not just in food categories. The absence of undesirable ingredients is actually now more important than the inclusion of beneficial ingredients. In fact, consumers are willing to pay more for products free from undesirable ingredients. This shift requires brands to be more transparent, and consumers are demanding transparency across all categories.
Nielsen Product Insider is available to non-food manufacturers and retailers in the U.S., along with the food and beverage view, which has been adopted and is in use by a major U.S. retailer and household name FMCG manufacturers.
About Ronak Sheth
Ronak Sheth is Label Insight's CEO, bringing 16-years of startup experience in software applications, consulting, technology, manufacturing, and sales to the role. He has leveraged his consulting and technology skills to drive strategic initiatives for global companies across various industries including consumer products, grocery retail, healthcare and pharmaceuticals, high-tech electronics, chemicals, oil, industrial, and legal.