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Intent HQ Launches Market Explorer in Spain to Address Traditional Market Report Inadequacies
Based on previously unavailable big data transactional datasets, Market Explorer provides a new, more detailed and accurate source of category-specific market and consumer insight for brands.
London, UK & Spain – May 11, 2023 – Today, customer analytics platform Intent HQ announced that its newest product, Market Explorer, has launched in Spain, a world-first with robust category-specific market and consumer insights based on previously unavailable rich behavioral transactional data. Intent HQ’s Market Explorer provides brands with granular, impartial digital dashboards based on billions of data points from real consumer behavior. Market Explorer is the first product from Intent HQ’s Intent xChange. Intent xChange is a platform that harnesses previously inaccessible transactional behavioral data from cross-industry partnerships, providing unique insights and reliable trend information.
Many of the marketing teams of the biggest brands in every industry are currently forced to settle for subpar data. Marketing data remains notorious for being unreliable due to the reliance on the outdated practices of collecting biased, self-reported data. A study from RTI found that up to 46% of self-reported consumer expenditure data is inaccurate. Research by Forrester found that 21% of marketing budgets are wasted due to shoddy data. Traditional market reports merely scratch the surface when it comes to providing consumer analysis—and their static reports become outdated quickly while blind spots exist on aspects such as actual consumer expenditure. This leaves marketers committing budgets to strategies informed by inadequate insights.
Intent HQ’s Market Explorer understands that to develop competitive marketing plans that unlock better brand performance, marketers must have access to trust-worthy, accurate, easily digestible, market and consumer insights built on significant sample sizes.
Market Explorer’s dynamic reports are presented as flexible, intuitive visualizations equipped with drill-down and filtering capabilities, providing fluid market perspectives and precise answers to highly specific questions.
With the power of transactional exhaust datasets, brands will be able to strategize based on actual consumer behavior, rather than vague, unvetted and fragmented speculations based on what people say, or think, that they are doing.
Based on cross-industry partnerships in Spain, the data integrity is second to none. Brands, the media and research agencies that service them can have confidence in the fact that the data incorporates
- 9,000,000 consumer records showing consumer demographics, behaviors and attitudes
- 500,000 consumer records showing consumer expenditure
- New data every quarter
- Transactional exhaust data: What customers actually do versus what they say they do
- Insight granularity at national, regional and city levels
- Time series trend data
- 15 months of data per report
Market Explorer uses Intent HQ’s proprietary xChange AI platform and ethically-processed behavioral consumer data. The insights in Market Explorer are accessible because Intent xChange’s leading privacy framework gives consumers and data custodians the confidence that consumer privacy and commercial sensitivities are protected. Market Explorer dynamic reports are now available for the Food & Drink, Clothing & Footwear, and Home & Garden sectors in Spain, with more sectors launching soon.
“Now, more than ever, brands and marketers need insights they can rely on and trust implicitly when it comes to successfully targeting and serving their core audiences, ” says Phil Douty, Global VP for the Intent xChange. “We are confident in Market Explorer’s ability to harness large sample sizes of data to provide precise, dynamic and impartial insights, driving unprecedented success for marketing campaigns. The quality of the data speaks for itself, and the launch of this technology will catalyze transformative change in the way marketers understand and reach their target demographics.”
The insights derived from Intent xChange and its products like Market Explorer are already making an impact: Professor Jose Luis Nueno of the IESE Business School will be publishing “The Price Crisis 2022-2023: Winners, Losers and Strategies for Success,” a new book published by AECOC based on data from Intent xChange that examines how consumer behavior has changed due to the cost of living crisis in Spain.
“For the Chair’s research projects, the Market Explorer has enabled the extraction of a wealth of information from the datasets shared with us by our partnering brand owners,” according to Head of the Intent HQ Chair on Changing Consumer Behavior, Professor Jose L. Nueno. “If brands were able to obtain half the insights from their own data that we were able to achieve with Market Explorer, they would be duly impressed.”
Insights from “The Price Crisis 2022-2023: Winners, Losers and Strategies for Success” will be featured at a special Congress in Madrid on May 24th at the IESE on-campus state-of-the-art amphitheater. To secure your limited invite to this event, click on this link.
To learn more about Market Explorer and the vertical sectors available or launching soon, click here.