This has been a big day for us marketing at retail folks. First we heard from Deloitte that in-store marketing is growing at an even faster rate than Internet advertising. Now we learn that the Nielsen Company along with the In-Store Marketing Institute and the P.R.I.S.M Project have made, "substantial progress in a breakthrough project that will make stores a measurable marketing medium. After reaching key research milestones, Nielsen In-Store will syndicate the data in 2008, giving retailers and manufacturers exhaustive intelligence that will help them rethink in-store marketing to improve the shopper experience," according to this article on Yahoo! Finance.
The article also goes into some of the specifics of the research, noting that, "the current nationwide trial was initiated by Nielsen In-Store on April 29, 2007, and counts traffic in store aisles both digitally and manually. By the time the trial ends in late December, Nielsen In-Store will have studied more than 160 stores, capturing over 60% of the All Commodity Volume (ACV) of products in food, drug and mass retailers."
This development will go a long way toward quantifying and highlighting the value of the sales floor as valuable marketing medium. Nielsen's numbers are the gold standard for audience measurement in other media, and their name will hopefully provide an air of accuracy and fairness that non-industry types will recognize and accept.
Of course, the data that will be syndicated in 2008 won't be perfect, but provided it isn't purely fabricated it will still be better than nothing, which is basically what we have right now.
Tags: Nielsen, in-store advertising, out-of-home advertising