Best Buy to study buyer behaviour with NPD
US— Electronics retail giant Best Buy has struck a deal with The NPD Group to use its consumer tracking service to scrutinise buyer behaviour.
The retailer says it has appointed The NPD Group as its “data of record partner” and will use its tracking service to enhance its understanding of market size and market share.
The data will also look to provide the retailer with demographic assessment of the consumer electronics, information technology, and mobile phone sectors.
Bill Hoffman (pictured), Best Buy senior VP of customer insights, explained: “Our industry is changing rapidly so it is critical to have broad and deep insight that enables us to understand and address competition and position Best Buy to best meet our customers’ needs.”
NPD’s consumer tracking service provides information from around two million shoppers globally, who answer surveys about what they purchase and where. The consumer information is then calibrated with data collected from a panel of over 900 retailers representing 150,000 doors worldwide. NPD claims the service provides a total market view, encompassing activity at all brick-and-mortar and online channels.