GfK is partnering with a fintech company to launch its new Consumer Wallet spending tracker in Sweden. The tracker will deliver a 360-degree view on Swedish shoppers’ spending patterns which is currently across more than 30 categories, with more to be added each month.
While traditional trackers monitor only one, two or possibly three categories, this new generation of tracker provides one monthly report on spending in multiple categories and sub-categories.
Continuous, extensive reporting on consumer spending will help businesses operating in the region to understand and meet the evolving needs of their customers. They will be able to track their performance as well as that of their competitors over time, and to identify and maximize growth areas. They can also evaluate the impact of their marketing and promotional activities by category and in a competitive context.
Peter Glavind, Managing Director, GfK Nordics, said: “To succeed in winning a share of consumers’ wallets, businesses need to constantly monitor consumer’s actual spending behavior and patterns, and adapt their offers accordingly. Until now, however, detailed information on consumer spending patterns for most major categories hasn’t been available, hindering innovation.
With Consumer Wallet, businesses can, for the first time, enjoy full insights into consumer spending & behavior at a company, category and cross-category level.”