X5's Big Data team launches analytics solution for suppliersX5 Retail Group ("X5" or the "Company"), a leading Russian food retailer (LSE and MOEX ticker: "FIVE"), has launched a proprietary category and consumer analytics solution for suppliers developed solely by its in-house Big Data team.
Producers can access the new tool, Big Analytical Platform, at https://supplierportal.x5.ru/contact-us/ in order to generate performance reports based on X5's sales data for their product categories. The portal is designed to help producers gain insights into product sales and other key performance metrics, identify what is driving demand and customer choices, track customer rotation and see changes in consumer habits and needs – all in a single view.
Purchase history and consumer behaviour data are used to build a set of analytical modules that can provide insights to improve business performance. Three types of reports are now available for X5's partners, including those on category diagnostics, sources of sales and customer migration. In 2020, the Company plans to launch another eight modules for analysing promotions, baskets, customer decision trees and profiles, as well as for testing, store clustering, and tracking of new launches.
"As a retailer, we have direct contact with consumers and the most granular data about changes in their behaviour, baskets and preferences. This new solution gives our partners unparalleled access to market analytics both in terms of scope and timing. The modules help identify a wealth of insights into changing trends in sales and the reasons behind them. The launch of this tool is an important step forward in our strategy to offer ready-made analytics to various businesses," said Dmitry Prusov, Head of Big Data Product Development at X5 Retail Group.
When creating the Big Analytical Platform, the X5 team ran a number of pilot projects using its modules. For instance, the team assessed the success of new brand launches (performance vs peers, duration of the novelty effect for consumers, sources of sales and cannibalisation rate); digital campaigns and multi-category tests in X5 stores (efficiency vs customer/store control group, ROI, sources of change in sales, incremental sales growth by category, drivers of changes in consumption).
To access the solution, suppliers may contact the X5 Big Data Department. The output is based on software configuration selection (report generation options, relevant categories, number of user profiles and other factors).
X5 Retail Group
X5 Retail Group is the leading multi-format food retailer in Russia. X5 shares are listed on the London Stock Echange (LSE) and Moscow Exchange in the form of Global Depositary Receipts under the ticker "FIVE". The Company operates several retail formats, including the chain of conveniently located proximity stores under the Pyaterochka brand, the supermarket chain under the Perekrestok brand, the hypermarket chain under the Karusel brand.