IRI and Ventura Foods Extend Partnership to Enhance Product Assortment Strategy

Ventura Foods unlocks category and brand growth by implementing opportunities discovered through IRI’s assortment optimization engine

Information Resources, Inc. (IRI), a fast-growing global technology leader in innovative solutions and services for consumer, retail and media companies, has expanded its partnership with Ventura Foods LLC, a leading producer of food service products, to utilize ​​IRI’s assortment solutions to drive growth for the brand.

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“Having the right product in the right place for the right consumer is essential when it comes to finding success in today’s market”

“Having the right product in the right place for the right consumer is essential when it comes to finding success in today’s market,” said Doug Little, senior manager of Insights and Category Management for Ventura Foods. “The IRI Assortment Optimization tools allow us to make data-driven decisions to tailor assortment to meet our customers’ needs. The tool offers a great way to visualize our set, compartmentalize items on the shelf and identify top sellers and poor performers, creating opportunities for innovation that optimize both our brand and the retailers’ set.”

The IRI Assortment Optimization Engine, which leverages machine learning and artificial intelligence, develops assortments tailored to key customer opportunities for Ventura Foods, including identifying optimal pack sizes for distribution and projecting incremental category growth through the partnership. For example, Ventura Foods has identified a need for large, club-sized items within its accounts and has used the tool’s predictive data to sell to buyers, leading to substantial brand and overall category growth.

“Recent market challenges including increased competition and lowered shelf availability have made it more important than ever for manufacturers and retailers to understand which products need to be on the shelf,” said Stefanie Fiery-Cale, principal of Client Insights for IRI. “Through detailed analysis, IRI’s assortment solutions offer guidance to Ventura Foods to ensure that its product assortment strategy is optimized, identifying which products to have on which shelves and in which stores to meet the needs of specific shoppers.”

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