Market information provider The NPD Group has launched a fifth Web-based service, dubbed NPDHouseworld, which will provide subscribers with retail point-of-sale and consumer data for major appliance products.
The service can be tailored to each subscriber in order to provide a personalized view into what is selling, where, to whom and why, which could facilitate decision-making and strategic planning, the company said.
Information for NPDHouseworld is collected from both consumers and retailers. Consumer information is collected via NPD's online consumer panel offering access to more than one million consumers, with respondents reporting appliance purchases across all channels of distribution. Meanwhile, participating retailers provide actual sales counts by products and price.
The NPDHouseworld Web site, located at www.npdhouseworld.com, is available 24 hours a day, seven days a week. The site includes Solution Folders for instant customizable graphs and charts, organized intuitively; a ClientCenter electronic library of client-specific NPD reports and presentations; industry news, and an archive of topical NPD articles and white papers.
The site also features special industry reports, a calendar of events, and content from other industry sources. Benefits of the service, the company said, include:
- Strategic planning, i.e. identifying new opportunities and emerging markets; determining changes in consumer behavior; identifying gaps in the market; and setting pricing strategies.
- Sales and category management, i.e. monitoring retail and vendor competition by account; capitalizing on competitors' weaknesses; determining the most effective sales approach by region; and understanding the impact of promotions.
- Marketing and brand management, i.e. reducing product development costs, matching brand to retailer demographics in order to increase distribution; determining the optimal time for promotions, targeting advertising; and monitoring campaign effectiveness.
Added NPDHouseworld president Tim Bush, "Current economic conditions place a slim margin of error between success and failure. NPDHouseworld's monthly-updated consumer profiling, purchase driver analyses and retailer-or-account-specific views are the only means for obtaining a total market view that incorporates all retail channels."
NPDHouseworld joins four existing NPD World groups, including Fashionworld, Foodworld, Funworld (tracking toys and video games) and TechWorld, which encompasses the consumer electronics industry.