London, August 3, 2017 - Money Dashboard and GfK have today announced that they have joined forces to provide retailers and brands with insights into UK consumer spending patterns by category.
To succeed in winning a share of consumers’ wallets in today’s competitive markets, businesses need constantly to monitor and respond to consumer spending behaviour and patterns.
GfK and Money Dashboard, the award-winning app market leader, have therefore partnered to introduce GfK Consumer Wallet in the UK.
Clients of Consumer Wallet receive online access to data that allows them to analyze consumer spend by demographics and geographical region. Monthly reporting allows businesses operating in the UK to track their performance over time, with the data covering spend across all categories - from digital entertainment to food and drink, travel to hospitality, and everything in-between. There is no other tool like it in the market.
GfK’s Consumer Wallet provides insights into category spending trends without any compromise of consumers’ personal security or privacy. Money Dashboard uses the same type of security solutions as the world’s leading banks and encrypts all their data using advanced encryption techniques. The entire data sample is fully de-identified by Money Dashboard before it is shared with GfK, who then further aggregate the data.
- Consumer Wallet is already available in Sweden and Spain where GfK clients rely on it to: Get a 360 perspective on where consumers are spending money
- Understand the geographic location of customers for targeting
- Evaluate client loyalty levels against key competitors and beyond
- Assess which brands are suited for joint marketing programmes
- Comprehend the impact of marketing and promotional campaigns
- Analyze brand interactions across category
- Spot market potential and opportunity
- Set KPIs and monitor business performance
Gavin McLauchlan of GfK comments, “With Consumer Wallet, businesses can enjoy full insights into consumer spending at a company, category and cross-category level. This gives our clients an unparalleled view of the complete consumer spend”
Steve Tigar, CEO of Money Dashboard, states, “With well over 100,000 customers – and growing – we are the perfect data partner for GfK. Having seen their existing Consumer Wallet solutions, we have complete confidence in GfK’s ability to create the best customer-facing service based on our in-depth, anonymized data. We can’t wait to see the results in early September.”
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