Both companies will develop new products and services for retailers and companies

Nielsen, a research and analytical firm and retail technology provider snapBizz joined hands for a strategic partnership under which the two giant will develop new products and services for retailers and companies. The collaboration between two companies will capture store level data point of sale and consumers purchasing details.

Talking on the eve of collaboration Nielsen India executive director Prayag Bhatia said “Access to granular data is an opportunity for companies to optimise their go-to-market efforts in traditional trade often considered a black-box. While there’s a lot of transactional, digital data available for ecommerce and modern trade, invoice data for small and medium retailers has largely remained a closed box.”

SnapBizz chief executive and founder Prem Kumar said “The partnership will give kirana stores a competitive edge, drive digital inclusion of small and medium businesses and skill people at bottom of the pyramid in the retail universe.”

Prem kumar also said “The partnership will enable unorganised kirana store owners to drive business decisions based on data. Traditional trade will continue to play a very significant role for the country’s retail landscape”.

Despite tough competition between online and offline, the modern tradition continues to have edge over online mainly in rural areas. 90% of country’s consumer goods business is running traditionally.

Talking about this issue Bhatia said “the partnership will help traditional retailers modernise their business in a competitive environment. The partnership will provide store-level consumer buying insights through granular data on real-time promotions, launches, performance, price efficiency, displays and assortment based on consumer buying patterns, which has otherwise been impossible because of the non-digitised nature of the kirana ecosystem.”