Poundland, one of the UK's largest discount and value retailers in the UK with over 750 stores, will be the first UK discounter to release data to its suppliers as part of a partnership with IRI, provider of FMCG market intelligence and predictive, actionable insight.
IRI is providing Poundland with its Gateway supplier collaboration platform, giving more than 400 suppliers the opportunity to have direct access to Poundland data.
IRI's Collaboration Gateway solution unifies retailer and manufacturer intelligence so that there is accurate up-to-date sales data at a brand and category level across all Poundland stores. Suppliers will also receive sales updates that they can use to track the performance of their brands and consumer shopping trends.
Dan Finke, UK Managing Director at IRI, said: "Both Poundland and its suppliers will now be able to view the same real-time market insight and work together more effectively. They will be able to benchmark their performance down to store-level detail, spot new paths to growth and adapt promotional strategies in response to shopper behaviour. This kind of collaborative approach is becoming more important to drive growth opportunities between retailers and suppliers, and we are delighted that Poundland has chosen to partner with IRI to launch this latest initiative."
Simon Twigger, Trading Director at Poundland, said: "With IRI's Gateway supplier collaboration platform we can now share what is happening across all of our stores with suppliers. This will give them critical and timely insight that will enable them to manage range and distribution throughout the year and optimise their performance during peak seasons and events. We think it will make a big difference to margins all around."
IRI has already implemented its Gateway platform for Marks & Spencer, Costco and One Stop in the UK.