CHICAGO and DALLAS – Feb. 27, 2006 –Information Resources, Inc., the leading global provider of enterprise market information solutions for the consumer packaged goods (CPG), retail and healthcare industries, and 7-Eleven, Inc., the nation’s largest convenience retailer, today announced the continued availability of the IRI 7-Exchange™ Program.
Used by top CPG manufacturers, the sales information resource is now in its third year, and provides the industry’s only direct, interactive access to 7-Eleven store-specific, daily, item-level, point-of-sale (POS) data from more than 5,000 stores. The data is available in a structured, collaborative platform and reflects the retailer’s unique category and geography definitions.
The revamped and expanded version of 7-Exchange will permit small- and mid-sized manufacturers to participate more easily. In near-real time, multiple companies in a single category now will be able to access sales data of all items, not just their own. The goal of 7-Exchange is to use such information to develop fact-based, category management plans driven by business insights, scorecards and performance metrics.
“We are very pleased with the value 7-Exchange has delivered to our manufacturer partners,” said Cynthia Davis, 7-Eleven senior vice president of merchandising. “We believe the program can be even stronger in 2006 and beyond. Based on the feedback and suggestions we’ve received from participants as well as our own observations, this enhanced version will better enable manufacturers to uncover business-building opportunities, act faster with greater confidence and ultimately win at the 7-Eleven store shelves.”
Participants of the 7-Exchange pilot program have identified multiple business benefits, including the ability to:
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Quickly identify new item development opportunities
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Effectively track new product launches using near real-time distribution reads
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Design and recommend more customer-focused assortments
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Consistently monitor category and product performance, by store, in a time frame that allows for consequential action
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Understand success drivers at top store groups and develop programs accordingly to capitalize across stores
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Improve pricing strategies through greater understanding of sales velocity, competitive movement and promotional activity
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Proactively measure promotional programs during execution and address compliance issues
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Improve analytic productivity
“It is extremely rewarding to see the positive results and the continuation of a groundbreaking program such as 7-Exchange,” said Thom Blischok, IRI president of retail solutions, strategic consulting and integrated solutions. “Relationships like 7-Eleven demonstrate our ongoing commitment to driving retail innovation and transformation through expanded retail coverage and next generation business insights. We are pleased to partner with 7-Eleven to deliver innovation and new levels of value to the marketplace.”
About 7-Eleven, Inc.
7-Eleven, Inc. is the premier name and largest chain in the convenience retailing industry. Headquartered in Dallas, Texas, 7-Eleven, Inc. operates or franchises approximately 5,800 7-Eleven® stores in the United States and Canada and licenses approximately 23,200 7-Eleven stores in 17 other countries and U.S. territories throughout the world. Find out more online at www.7-Eleven.com.
About Information Resources, Inc.
Information Resources, Inc. (IRI) is the world’s leading provider of enterprise market information solutions and services, empowering its clients to grow their business profitably in a complex marketplace. Driving the transformation of the consumer packaged goods (CPG), retail, and healthcare industries, only IRI provides a unique combination of real-time market content, advanced analytics, enterprise performance management software, and professional services. The company’s portfolio of services, solutions, and technology enable leading retailers and their suppliers around the globe to see what they are missing, act faster with greater confidence and win at the shelf. Ninety-five percent of the FORTUNE Global 500 in CPG and retail leverage IRI to power their business. For more information, visit www.infores.com.