GfK launches AI-based solution for retailers to gain valuable intelligence on shoppers

GfK launches AI-based solution for retailers to gain valuable intelligence on shoppers

(PRESS RELEASE) NUREMBERG, 9-Aug-2019 — /EuropaWire/ — GfK provides grocery and drugstore retailers with new AI-based solution to gain valuable intelligence on shoppers. Attribution+ allows retailers to complete and enrich loyalty card data with insights from the GfK Consumer Panel. This is the first tool that GfK and SO1 jointly developed after their partnership announcement at the beginning of 2019.

Retailers often fail to obtain valuable socio-demographic information of their clients and more so they have no insights about purchases made by their shoppers at competitors. Retailers can only observe their current behavior in their own stores. Attribution+ can help retailers by analyzing a shopper’s purchase behavior at one retailer and inferring behavioral and socio-demographic attributes. The artificial intelligence is powered by GfK’s household panel data.

“Attribution+ is the perfect add-on to GfK’s loyalty card data portfolio and will drive the business of GfK clients,” explains GfK Global Retail Director Dr. Marc Knuff. “Attribution+ revolutionizes the use of GfK Consumer Panel data as it makes total market insights directly applicable for use in CRM“, adds Dr. Benjamin Brinkhoff who coordinates as Global Lead Loyalty Card Data GfK services in this area.

SO1’s machine learning technology is used in Attribution+ to process the robust sample from GfK Consumer Panel and link shopping behavior to attributes. The AI uses the knowledge of how purchase behavior hints at consumer attributes to predict attributes to any new shopper profile, without the need to match data of individuals. Relying on total market view, the new solution also overcomes a major, inherent limitation of loyalty card data, like the ability to assess from which competing retailers their shoppers also buy. So far, this is untouched territory in the realm of promotion optimization.

GfK exclusively distributes Attribution+ as an onsite software, with a testing version providing two socio-demographic attributes for free. Attribution+ is available in Germany, the Netherlands and Poland, the software will also be ready soon for the many other countries that run a GfK Consumer Panel.

More information on Attribution+

For press information:
+49 911 395 4440

SOURCE: GfK