Commerce Signals, a Verisk Financial business and leading source of U.S. consumer spending insights, announced the availability of the Commerce Signals Merchant Tracker, a ground-breaking solution for businesses to better understand where consumers are spending and how their own sales compare to other merchants. Never before have businesses been able to benchmark sales and market share vs. other named merchants at a county level. Spending trends are also broken-out between online and in-store sales.
The Commerce Signals Merchant Tracker allows retailers to access weekly views of purchases, returns, average ticket, and market share—all from an easy-to-use and intuitive online dashboard. A datacube is also available for custom analysis. This new solution is a powerful tool for gathering detailed data intelligence to help businesses compare consumer spending at other merchants both within and outside of their categories to improve both strategic and reactive planning.
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The Merchant Tracker is powered by Commerce Signals’ comprehensive and anonymized consumer credit and debit card spending dataset, which includes transactions from more than 40 million U.S. households. The data is balanced for the total U.S. population by geography and other proprietary metrics.
The new solution builds on Commerce Signals recent launch of the Covid-19 Consumer Spending Impact Tracker, which provides insights into U.S. consumer spending behavior across all consumer businesses by category. The Merchant Tracker provides a powerful new level of detail by breaking down spending by individual companies at the county level. Data on more than 1300 major retailers, restaurants, telecom, travel, and entertainment companies is already available.
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“In today’s challenging and rapidly changing environment, businesses need accurate, detailed and timely information to help them manage their resources,” said Lisa Bonalle-Hannan, president of Verisk Financial. “With COVID-19 cases surging in some areas and local governments and schools adjusting guidance to protect their communities, county-level market share data has never been so important.”
“The Commerce Signals Merchant Tracker provides unprecedented intelligence to allow businesses to understand consumer spending behavior and preferences by merchant and track the competitive landscape at the county level,” said Bonalle-Hannan.
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