Wal-Mart and P&G have rolled out Prism, a new initiative through Nielsen In-Store, to track consumer behaviour in-store and measure marketing effectiveness.
Prism uses infrared sensors, placed throughout stores, to measure and track traffic and consumer exposure to marketing materials throughout stores, including product displays, banners and in-store TV networks. Stephen Quinn, Wal-Mart CMO, revealed the initiative to the Consumer 360 conference, held in West Hollywood. He commented: ‘This is an initiative that we think will forever change retail marketing.’ Minority Report style personal greetings and shops that know what you want to buy before you do may only be a step away.
The project will be launched fully by 2008, but stores will start to be fitted with the sensors immediately. Prism is being funded by a consortium of companies that also includes Coca-Cola, Kelloggs, Miller and 3M, as well as P&G and Walmart. Dina Howell, general manager-global marketing operations at P&G told Brandweek.com that the technology will be introduced to 150 retail outlets in the States, by the time it is launched fully, with an international introduction scheduled for the next couple of years.
According to a pilot that ran last year, consumer behaviour was predicted with 76% accuracy, rising to 85% with further refinement. Howell continued: ‘This will have a profound impact on the whole industry. It’s starting in marketing but it will impact operation.
P&G CEO A.G. Lafley commented on the importance on measurability to his brand: ‘If you step back and look at our mix across most of the major brands it is clearly shifting and it is shifting from measured media to in-store to the Internet and to trivial activity.’ With the constant drive for return on investment details, particularly amongst increasingly complex branding efforts, Prism’s comparable metrics and string of backers look set to prove a winning combination.
www.nielsen.com/media/pr_070507.html
