The leading CPG Company based in the EU, produced a variety of consumer products ranging from dairy to plant-based and more. With a diverse product portfolio, they also catered to consumers from different demographics. To help cater to these consumers better, they wanted to identify the driving factors that effected decision-making.
Co.dx Helped The Leading CPG Company
Taking into account their wide product variety and consumer demographics, the leading CPG Giant wanted to build a solution that would help them gain deeper insights into consumer behavior. To do so, they had to resolve the following business challenges.
As part of their omnichannel strategy, the CPG Company had set up a D2C digital sales facility. This gave them the opportunity to tap into the online consumer sales data. However, they were not able to translate this data into deep insights on consumer purchase behavior and were unable to identify the factors driving a consumer’s decision making.
Co.dx helped the client efficiently leverage the data from the digital point of sales (PoS) . Through Co.dx’s Digital Channel Optimizer, the client unlocked information on consumer preferences, identified pivotal points in the consumer journey, and analyzed purchase basket and customer purchase behavior.
While digital PoS data was generated, it was not enough to derive actionable insights. The client had multiple sources of data that were confined in siloes across the organization. Hence, they needed a solution that could tap into all the data sources to get actionable insights.
Co.dx’s data connectors, helped connect to multiple databases such as internal data, syndicated data and third party data to capture information on categories, product features, product page view, products added to cart, checkout initiation, sales conversion, competitor brand information and such. Some databases were on premise while others were pipelined from cloud storage. Overall, Co.dx helped set up the data infrastructure & even established ETL pipelines for orchestration & automation.
Historically, CPG companies have struggled to get access to consumer behavior data. The client faced a similar issue and even lost significant opportunity to customize offerings. Now, with the new digital data captures, they wanted to identify and segment consumer cohorts.
By leveraging multiple data sources, the Digital Optimizer was able to map a truly omnichannel consumer path to purchase. Consumers were analyzed on various touchpoints across the consumer journey funnel. Consumer profiles were also created based on factors such as search homogeneity, product features and purchase patterns for each category.
Co.dx’s Digital Optimizer helped the client truly master their omnichannel strategy. It helped them gain a holistic understanding of the interplay of different products and brands, such as products that complement each other, as well as time, day, and frequency of purchases. Co.dx also helped quantify lost opportunities in terms of its value and volume across the purchase funnel for each category, brand, product and domain. With minor tweaks, the application was seamlessly deployed on the client’s cloud-based platform, ensuring that the data was refreshed daily.