20 April 2020
Have you heard? The age-old challenge of lack of data and insight in convenience has finally changed.
Even before the impact of Covid-19, forecasts from IGD revealed that the UK convenience market is set to grow by £6.9bn in the next five years, reaching £48.2bn by 2024. HIM have also indicated that brands are more relevant than ever in this channel; in fact, in 2019, 82% of baskets contained only branded products.
This is a channel that’s not slowing down, and the impact of Covid-19 has only driven further rapid growth. In the first week of the government introduced measures, sales in convenience stores grew by over 30% and that double-digit growth has continued. Basket spend is up by almost 50% since the last week in March.
A lack of data and insight in the channel means that brands have a limited view of product performance and distribution across the estate. But what if we told you this has changed?
What if we told you that we could help you understand your performance across an estate of 5,000 stores with daily sales data so that you can make more informed strategic and operational decisions?
Today, we’re announcing our partnership with In Touch, and together we’ll provide access to EPOS data analytics at a scale the channel has never seen before, to offer a multi-faceted digital Convenience retail solution, enabling better fact based insight and direction.
Gerry Hooper, CEO at In Touch, commented this when asked about the partnership: “We’re really excited to partner with McCurrach, their analytics solutions are market leading in my view and they have great expertise in the Convenience sector. This will be a game changer for brands in Convenience retail, enabling data led direction and improved strategic decision making based on accurate data, which has never been possible in Convenience before now.”
Gordon Neil, Strategy & Marketing Director and Head of Thumbprint at McCurrach commented “We’re delighted to be partnering with In Touch. They have achieved something no one else has managed, creating the largest EPOS data set in Convenience by pooling together multiple POS houses. Our combined strength will genuinely create a 1 + 1 = 3 equation for the brands who work with us.”
The best part is that we’re ready to discuss how you could be a part of it now. We can start providing any brand with an affordable data feed with pace. If you want to get involved, contact us to find out more.