The product works by combining LiveRamp’s retail connectivity with PlaceIQ’s location targeting. LiveRamp has a huge repository of in-store shopping data, which it receives through a network of third parties.
CPG marketers can determine whether a consumer visited the store, even if he or she didn’t make a purchase. As for making the sale? That’s the marketer’s job, Thompson said: “Once the person is in the store, you’re putting it into the retailer’s hands to close.”
Placed leverages users across a network of third-party partner apps, and tracks via an opted-in audience.
Nielsen’s is the only solution that directly partners with retailers. (Target is the only national retailer that is publicly involved.) Nielsen’s North American president, Karen Fichuk, said the omnichannel measurement tool “will incorporate multiple data sets including retailer POS (point-of-sale), consumer sourced receipts (and) longitudinal panels.”
Nielsen's solution is the only one to directly involve retail partners, and their priorities are reflected in the product's selling points.
“The opportunity is for retailers to understand the data to uncover insights around those shoppers for that store to better make assortment, pricing, promotion and marketing decisions on a granular scale,” Fichuk said
Digital measurement tools and the real world of brick-and-mortar retail are cautiously inching together.
As Fichuk said, “a multisource solution is the only reliable way to give clients ongoing measurement of online consumer purchase behavior and true channel measurement, while keeping up with the continued changes we know will happen in this dynamic market.”