Business Services Industry
7-Eleven, IRI Extend and Enhance IRI 7-Exchange™ Program
Business Wire, July 19, 2007
Expanded Relationship Allows IRI to Track All U.S.-Based 7-Eleven Stores and Gives IRI Competitive Advantage in Convenience Marketplace Coverage
CHICAGO -- Information Resources, Inc. (IRI), the world's leading global provider of consumer, shopper, and retail market intelligence and insights for the consumer packaged goods (CPG), healthcare and retail industries, today announced that it is extending its relationship with 7-Eleven, Inc., the nation's largest convenience retailer. Under the new agreement, the IRI 7-Exchange Program[TM] will continue and IRI will now have access to all of 7-Eleven's U.S.-based point of sale (POS) store data--including the recently acquired White Hen stores--for its convenience tracking service. The enhanced access offers more granular, store-level insights from participating suppliers that will empower them to "act locally."
Used by top CPG manufacturers, the IRI 7-Exchange Program is a sales information resource that provides the industry's only direct, interactive access to 7-Eleven store-specific, daily, item-level, POS data from more than 5,000 stores in the United States. The data is available in a structured, collaborative platform and reflects the retailer's unique category and geography definitions.
"We worked with IRI to develop the 7-Exchange data community to facilitate improved collaboration between 7-Eleven and manufacturers and suppliers," said Kevin Elliott, senior vice president of merchandising for 7-Eleven. "This exchange enables us to identify consumer trends, buying patterns and gain additional consumer insight through the 'same looking glass.' As a result, we can better leverage our 6.5 million daily transactions--a true proxy for consumer needs. In addition, we further our mission of consistently serving the changing needs of customers for their convenience and achieve a win-win relationship with our vendor partners."
7-Exchange allows multiple companies in a single category to access sales information of all items, not just their own. The goal of 7-Exchange is to use such information to develop fact-based, category management plans driven by business insights, scorecards and performance metrics.
Participants of the 7-Exchange program have identified multiple business benefits, including the ability to:
* Quickly identify new-item development opportunities
* Effectively track new product launches using near real-time distribution reads
* Design and recommend more customer-focused assortments
* Consistently monitor category and product performance, by store, in a time frame that allows for consequential action
* Understand success drivers at top store groups and develop programs accordingly to capitalize across stores
* Improve pricing strategies through greater understanding of sales velocity, competitive movement and promotional activity
* Proactively measure promotional programs during execution and address compliance issues
* Improve analytic productivity
"It is extremely rewarding to see the positive results and the continuation of a groundbreaking program such as 7-Exchange," said Thom Blischok, IRI president of retail solutions, strategic consulting and integrated solutions. "The access to all of 7-Eleven POS store data will only further enhance IRI's convenience-tracking solutions."
"Relationships like 7-Eleven demonstrate our ongoing commitment to driving retail innovation and transformation through expanded retail coverage and next generation business insights," continued Blischok. "We are pleased to partner with 7-Eleven to deliver innovation and new levels of value to the marketplace."
About 7-Eleven, Inc.
7-Eleven, Inc. is the premier name and largest chain in the convenience retailing industry. Based in Dallas, Texas, 7-Eleven operates franchises or licenses more than 7,200 7-Eleven[R] stores in North America. Globally, 7-Eleven operates franchises or licenses more than 32,700 stores in 17 countries and one U.S. territory. During 2006, 7-Eleven stores worldwide generated total sales of more than $44 billion. Find out more online at www.7-Eleven.com.
About Information Resources, Inc.
IRI is the world's leading provider of consumer, shopper, and retail market intelligence and insights supporting 95 percent of the FORTUNE Global 500 consumer packaged goods (CPG), retail and healthcare companies. Only IRI offers the unique combination of integrated market information, automated and predictive analytics, innovative enabling technologies, and domain expertise. With IRI, leading retailers and manufacturers are able to quickly discover breakthrough insights driving smarter decisions and actions across the enterprise for breakthrough results. Companies around the world depend on IRI for improved productivity, stronger brands, and dramatic revenue growth. For more information, visit http://us.infores.com.
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