NielsenIQ announced today that it launched Amazon third-party marketplace measurement across all Health & Beauty categories. This strategy involves incorporating critical third-party data into the current retail analytics tools. As a result, the new system provides the brands with comprehensive information about consumer behavior in both online and offline platforms. Third-party sellers on Amazon have made $56 billion worth of sales in the Health & Beauty category. This impressive figure represents 24 percent of the entire tracked omnichannel market in the United States. Therefore, tracking these marketplace sellers eliminates a massive measurement blind spot for modern consumer brands.
NIQ Discover Delivers Granular Item-Level Insights for Amazon Marketplace
In addition, third-party merchants currently drive 68 percent of all Amazon Health & Beauty transactions. Without this visibility, companies miss crucial signals regarding emerging competitor strategies and consumer trends. Thus, NIQ designed this product update to provide immediate access to item-level marketplace insights. Moreover, the enhanced analytics platform enables businesses to spot fast-growing product ingredients much faster. Businesses can now track individual items directly through the accessible NIQ Discover digital platform.
“Amazon’s third-party marketplace is where many of today’s fastest-growing Health and Beauty brands gain traction, yet it has remained one of the industry’s largest measurement blind spots,” said Jacqueline Flam, Managing Director, Beauty and Health at NIQ. “By bringing Amazon 3P into NIQ measurement, brands can identify emerging competitors sooner, spot shifts in consumer demand earlier, and make more informed decisions around innovation, pricing, and growth.”
This launch represents a major step forward in expanding the company’s proprietary Full View strategy. Earlier this year, NIQ introduced third-party Amazon tracking as a core feature for its forthcoming Beauty Channel. Indeed, this new tool delivers unified performance analytics across mass, prestige, and digital retail spaces. Modern Health & Beauty organizations can now evaluate marketplace opportunities long before new brands hit physical stores.
In summary, analysis of third-party sales of Amazon assists the leadership team in identifying the real drivers of Health & Beauty. In essence, improved Health & Beauty datasets give the leadership team the ability to make better decisions about pricing and innovations.
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News Source: Businesswire.com
