Leading pet specialty retailer, Petco, entered into an agreement with Nielsen’s information shared model. With this data sharing pact, Nielsen is attempting to open their services to the pet specialty sector.
According to Nielsen, many food, drug, mass, convenience, and dollar store retailers in the United States are already sharing data with them. Nielsen then takes the data received and “scrubs” it so competitors cannot get exacting rival news. From that point, retailers and manufacturers are privy to this data.
In similar news, Nielsen purchased Marketing Analytics, Inc., in the summer of 2011. The firm helps companies measure the impact of marketing plans on sales. Resulting from this acquisition, Nielsen is able to provide a complete and time-effective view of media and marketing across multiple channels.
In order to adequately scrub channel-specific information, Nielsen must have three key companies on board who choose to opt in to this data collection effort. For their acceptance of the agreement, Petco will receive information from Nielsen about consumer purchase patterns and their competitive stronghold against other retailers in the marketplace. In order to better focus their marketing and pricing strategies, Petco would utilize this information.
With its first retailer store opening in 1976, PETCO’s primary customers were ranches, kennels, catteries and grooming shops. Initially launching under the name UPCO, the name was changed to PETCO so the company could better connect with the pet supply business. Currently, PETCO is privately held with more than 1,000 stores in 50 states and over 22,000 associates nationwide.
As part of its goal to provide a precise view of consumer purchase activity in the retail marketplace, Nielsen is able to gather data reflecting sales volumes, pricing, merchandising and promotions, according to the company.