ValueCentric introduces market insight service powered by Walgreens data
ORCHARD PARK, N.Y. — ValueCentric on Wednesday announced it has reached an agreement with Walgreens that will allow ValueCentric to deliver channel- and store-level data services that provide pharmaceutical market insights based on retail data.
“I am extremely pleased that Walgreens has selected ValueCentric and our ValueTrak platform to bring innovative marketing and data programs to its manufacturer community,” stated Dave Janca, CEO ValueCentric. “Walgreens has a clear understanding of the value of working closer with manufacturers and providing them with unprecedented views into their distribution network in near real-time. Together, we are meeting the growing need for better and timelier information that manufacturers can easily access through ValueTrak to drive improved decision-making and business results.”
The new data services already have been delivered to several manufacturers, enabling them to more effectively execute product launches, analyze the performance of their product portfolios, and improve the accuracy of forecasts and financial projections, ValueCentric stated. The initial program offering provides for the reporting of data, such as daily inventory at Walgreens distribution centers, sales through both Walgreens and wholesaler distribution centers into all Walgreens stores, pharmacy decile reports and daily store-level inventory.
"The importance of maximizing brand potential across the product life cycle and providing better customer service at all levels of the supply chain has never been greater," the company stated. "Actual data, which is trusted by all parties and delivered in near real-time, now makes it possible for manufacturers to immediately understand and respond to market events and to gauge the effectiveness of various marketing programs they may be running."
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Packaged Facts: Pet drug sales to reach $6.7 billion in 2011
NEW YORK — While sales figures for pharmaceuticals are frequently reported on, drugs for people’s four-legged friends also are a money maker.
According to Packaged Facts, a division of MarketResearch.com, retail sales of pet medications — including sales through retail stores, online retailers and veterinarians — will reach $6.7 billion this year.
A new report from the firm, "Pet Medications in the U.S.," mass market channels are the least involved in pet medications among retailers. But online pharmacies, including those of Target and Walmart, have expanded their product range. Currently, according to the firm’s May-June 2011 Pet Owner Survey, 71% of prescription-only heartworm medications and 40% of nonprescription flea and tick spot-ons continue to be sold through veterinarians, which for many years "have been in the catbird seat" in pet medication sales.
"The underpinnings of the U.S. pet industry remain strong, and the outlook is especially favorable for all things pet-related," Packaged Facts publisher David Sprinkle said.
In some ways, trends driving pet medications seem to mirror the ones driving human medications. "Taking into account market drivers including the aging pet population, pet obesity and the heavy involvement of major pharmaceuticals companies, pet medications sales should return to their pre-recession rates of growth over the next few years, with annual percentage gains projected at 10% by 2015."
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Analysis: High-end consumers are clipping coupons in search of a shopping ROI
JACKSONVILLE, Fla. — Shoppers are just as promotion-driven as they have been since economists first coined the term the "new normal" economy — and that’s not likely to change, according to a new "The Why? Behind the Buy" report released Wednesday by Acosta Sales.
Acosta has dubbed the new normal shopper "Shopper Inc.," given today’s inclination toward taking an extremely prepared and educated approach to the grocery trip. As many as 72% are making a list for their routine shopping trip, with 54% buying more items on sale, and 33% going online or using apps to save money all in an effort to realize a return on investment, or ROI.
Acosta advises retailers and manufacturers to not only expect conservative spending behavior to continue, but also to develop strategies for consumers at either end of the spectrum. "There are two economies, one for under $50K and one for more than $50K," the report read. "Understand the increasing divide between low-to-middle income households and higher-income households, and what it may mean for your brand."
Approximately 10% of households generated less than $45,000 in annual income or utilizing food stamps, and one-third matched their primary shopping trip to their paycheck. Due to increased gas prices, they are consolidating trips, buying more items on sale, buying more store brands, switching to less expensive brands, buying fewer groceries overall, as well as doing without specific products.
Households earning more than $100,000 in annual income are not necessarily looking to spend less, but they are pre-planning more to be smarter shoppers. They are more likely to clip coupons and decide which brand/product to buy based on the circular and what’s on sale. In store, they are more likely to compare the price-per-oz. part of the tag and look at the package when making their decisions. They also are more likely to try new products and to buy healthier products even if they are more expensive, according to Acosta.
Traditional store circulars remain among the most popular promotional items for shoppers, with 85% reporting that store circulars influence them and nearly 50% said they clip coupons from the circulars. And while traditional sales tactics continue to be more widely used than digital offerings at the grocery counter, digital is increasing in influence, with 33% of shoppers going online to save money via online coupons, retailer and brand websites, and email subscriptions.
Acosta conducts "The Why? Behind the Buy" survey two times per year. The respondents are more than 1,000 shoppers, randomly selected across all generational, economic and ethnic groups across the United States. The current survey was fielded in July 2011. To access the full report, visit Acosta.com/why (a free registration is required).
Coupons may offer discounts, but they're also a form of advertising for companies. Whether you clip coupons from the Sunday circulars or print them from Printapons, you'll see ads for hundreds of products in the process