Solution Provider Spotlight: NIQ

Company Name: NIQ
Author of the post: Steve Zurek,VP Thought Leadership
Tenure With Current Company: 2.5 years
Years of Industry Experience: 34 years

Tell us a bit about NielsenIQ’s history and mission?

NIQ was established a century ago and has since become a recognized global leader within the consumer intelligence sector. Through our 2023 merger with GfK, we were able to combine our respective strengths, resulting in unparalleled global reach. NIQ’s core mission is to deliver the most comprehensive understanding possible regarding consumer buying behavior. By achieving this, we empower businesses to unlock new avenues for growth.

What would you like CMA and SIMA members to know about NIQ?

We want CMA and SIMA members to understand that NIQ is a consumer intelligence company dedicated to supporting both retailers and brands. We provide a holistic view of consumer behavior, empowering informed decision-making that fosters growth. Additionally, NIQ offers a suite of solutions, including Revenue Optimizer and Shelf Architect, specifically designed to contribute to success in the marketplace.

What is the most common question you hear from current and potential customers?

Right now, the impact of inflation remains a top concern. Many clients seek guidance on thoughtfully reintroducing promotions after a period of pandemic-induced reduction. NIQ acknowledges the significance of designing effective promotions alongside an appropriate pricing strategy. We offer solutions to address this very need, such as NIQ Revenue Optimizer. This tool analyzes various promotional scenarios and recommends pricing that delivers value to shoppers while maximizing profitability for our clients.

Are there any areas where NIQ is looking to expand?

Artificial intelligence is a prominent area of focus, mirroring the trends across many industries. However, NIQ’s specific interest lies in integrating AI and predictive analytics into the fabric of everyday business practices. This integration will allow for proactive responses to evolving market trends and data-driven recommendations for pricing and promotions.

What is the most pressing challenge in category management and shopper insights?

The retail landscape is undergoing rapid transformation, presenting new challenges to traditional retail shelf management. Factors such as the emergence of click-and-collect services and labor shortages force adjustments in category management practices. Retailers are prioritizing high-velocity SKUs and optimizing space allocation for these items, potentially at the expense of product variety for efficiency’s sake. NIQ can assist in navigating these changes with solutions like Shelf Architect, which analyzes assortments for optimal performance.

What’s your outlook on the next 3-5 years in retail?

Shoppers are evolving into increasingly strategic and tech-savvy consumers. They possess the ability to effortlessly compare prices and initiate their shopping journeys from any location. This trend is expected to accelerate in the coming years. Retailers will need to adapt their strategies to cultivate customer loyalty, promote impulse purchases, and cater to a more digital shopping experience. NIQ can serve as a valuable partner in this transformation, offering solutions for assortment analysis, revenue optimization, and promotion planning.

Looking ahead to 2030, we anticipate a diverse shopper base encompassing both a large aging demographic and a digitally native generation dominating the workforce. Understanding their purchase journeys and offering a seamless online-in-store experience will be paramount. The next 5-6 years hold the promise of being a dynamic and exciting period for both CPG companies and retailers.

Meet Steve Zurek: The Thought Leader of NIQ’s Advanced Analytics Solutions.

Steve boasts an impressive 34-year tenure within the CPG (consumer packaged goods) industry, having honed his expertise in sales and category development. Prior to joining NIQ, his career path included stops at industry giants such as PepsiCo, Procter and Gamble, and Haleon Consumer Health.

Currently, Steve holds the position of Vice President of Thought Leadership for North America Analytic Sales. In this role, he casts a discerning eye towards the evolving CPG landscape, leveraging his unwavering client-centric approach to craft practical, data-driven content.

Steve further bolstered his academic foundation by earning an MBA from The Heller College of Business at Roosevelt University in Chicago. His commitment to education extends beyond his own achievements, as he currently serves on the advisory board at his alma mater. Residing in Roselle, Illinois, Steve brings a wealth of experience and a forward-thinking vision to NIQ to help brands stay Always-On, Always Ahead.