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NEWS22 October 2013

InfoScout dashboard turns receipts into brand data

Financials North America

US — InfoScout, a retail market research firm backed by Dunnhumby Ventures, has launched a free public beta of its analytics dashboard, InfoScout.co.

The data contained with the dashboard is collated from a panel of more than 125,000 people, who have agreed to share details of their purchases with InfoScout.

Panellists are users of one of two InfoScout smartphone apps, Shoparoo or ReceiptHog – both of which ask users to take photos of the receipts they get after making purchases. They are also asked to complete shopping trip-specific surveys.

According to InfoScout, it then converts the receipt images and survey responses into purchase data associated with products and retailers.

infoscout

A demo shot of the InfoScout dashboard and data outputs

“Via this data, retailers can understand purchasing decisions at the household level and gain better insight into both the demographic and psychographic profiles of their customers,” the company said. “The service draws parallels to the scale and depth of online user analytics, and delivers the same transparency and understanding of consumers in offline retail.”

Early customers of the service include Procter & Gamble, Nestlé, Unilever, Kraft and PepsiCo.

InfoScout has raised $5m in investment in its series A financing round, with backers including Bain Capital, Founder Collective and Dunnhumby Ventures – the newly-launched investment arm of the shopper insight company.

Jared Schrieber, InfoScout co-founder and CEO, claims the launch of the analytics dashboard “ushers in a new era of transparency in the retail industry… An era in which shopper insights are no longer locked-up behind multi-year, multi-million dollar contracts with keys handed to just a select few. From now on, this data is freely available to anyone with an internet connection,” Schrieber said.

@RESEARCH LIVE

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