Coles has partnered with a leading data platform to provide suppliers with an unprecedented level of insight into customer needs, utilising data from more than 2,500 stores.
Coles is now launching Coles Synergy, a new data analytics tool with global market analytics provider IRI.
The announcement is the latest in a series of global partnerships and developments through which Coles is building its technology and digital capability.
Coles last year named IRI as the sole provider of scan data and analysis drawn from all Coles businesses, providing subscribing suppliers with sales data for their products and the categories in which they operate, to help them plan for their business and identify growth opportunities.
IRI’s Liquid Data platform (ILD) is used by major international retailers including Morrisons, Waitrose and Boots in the UK, Kroger and Albertsons in the US, Sobey’s in Canada and Conad in Italy.
Data from more than 2,500 supermarkets, Coles Express convenience and Coles Liquor stores will be analysed part of Coles Synergy’s ILD technology.
Designed specifically for the retail and FMCG sector, ILD enables IRI clients to integrate multiple data assets including market, consumer, customer and supply chain.
Coles Synergy will provide suppliers with fast and detailed insights across products, stores, geographies and sales channels, allowing them to better understand customer needs and collaborate more closely with Coles on strategic initiatives.
Greg Davis, Coles Chief Executive Commercial and Express, said the insights available through Coles Synergy would allow suppliers to grow their businesses with Coles, through a shared obsession with understanding and meeting customer needs.
Coles utilises insights drawn from more than 1 billion customer transactions per year to inform key operational decisions including changes to product ranges, demand forecasting and promotions.
“Coles Synergy will allow suppliers to view all relevant market insights across our business, using the same measures that we use within Coles,” he said.
“Having a common understanding of the market will make joint business planning easier and foster deeper relationships so we can work together to bring innovative products and great value to our customers.”
Paul Hinds, Managing Director for Asia Pacific at IRI said “We are proud to be expanding our relationship with Coles and working with them to better understand their customers in a changing market.”
“The strategic partnership with Coles builds on our ongoing momentum within the retail and FMCG sectors both locally and globally. This, together with IRI’s extensive experience in understanding the Australian shopper and the grocery landscape, will help Coles and its supplier partners attain an enhanced understanding of the Coles customer and win together.”