Coles announced a digital transformation driven partnership with leading analytics provider IRI to provide suppliers with deep insights into customer needs, utilising data from more than 2,500 supermarkets, Coles Express convenience and Coles Liquor stores.
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 to help them plan for their business and identify growth opportunities.
As a part of this partnership with IRI, Coles has now launched the new analytics tool called Coles Synergy utilising IRI’s platform (ILD).
The ILD tool is also used by leading international retailers including Kroger and Morrisons.
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 helps suppliers plan for growth. Data insights enable innovation to meet changing customer needs
Coles group said in a statement on its website, “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.”
Insights from a billion transactions
Coles revealed it 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.
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 Chief Executive Commercial and Express Greg Davis
“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.”
“We are proud to be expanding our relationship with Coles and working with them to better understand their customers in a changing market.”
Paul Hinds, Managing Director for Asia Pacific at IRI
Coles digital journey – enhancing technology capabilities
The announcement is the latest in a series of global partnerships and developments through which Coles is building its technology and digital capability.
Walmart talent to lead Coles Online, Kmart lures former Amazon VP to lead Catch
Just a few weeks earlier, announcing the 3QFY20 results, Chief Executive Steven Cain revealed appointing Ben Hassing, former Walmart executive to lead Coles eCommerce business.
The Chief Executive, eCommerce is a newly created executive position, reporting directly to the Coles Group Chief Executive Steven Cain.
Incidentally, Kmart group lured former Amazon VP to lead its online business Catch.
Announcing the appointment, Kmart Group Managing Director Ian Bailey said: “Kmart plans to increase investment to build Catch into a trusted marketplace for online shoppers”.
“We have every reason to believe that Catch will go from strength to strength”, said Mr Bailey.
Just Walk Out
Amazon recently launched JustWalkOut, offering to sell its cashier-less technology to other retailers. Unlike its app-enabled Amazon Go stores, shoppers have to swipe a credit card on entry.
Airport retailer OTG launched the first store with Amazon Just Walk Out technology. In its new avatar as a retail tech provider, amazon could help bridge the click and brick gap for many retailers.
It is not yet clear how Just Walk Out could impact Coles and other established retailers.
