Percept Retail, the retail arm of Percept Holdings, has announced its plans to come out with a measurement system in the fast growing retail industry. The tracking, to begin within three months from now, will resort to physical audit to provide a quali-analysis of the industry. A white paper comprising the results and insights from the tracking is also on the cards from the agency.
Speaking about the need for a measurement in the marketplace, Prashant Gunthey, Business Head – Percept Retail, Percept OOH, said, “The time has come for somebody to take that lead and have a syndicated research to really measuring and rationalising the spends. Presently, it is available in bits and pieces, but it’s not syndicated.”
“From the media point-of-view, there is better knowledge, but there is no direct application on that knowledge. The need to know what kind of content and media is essential for a particular location inside the store is vital,” he added.
Explaining the process of the study, wherein the brands will have to cut their ad budgets for periods of time, Gunthey said, “We are working out agreements with advertisers to cut the ATL budgets and work with the retailers and see how that really impacted the off-take. Similarly, if we do it in another market, we can then compare the results from both the markets over a period of three to six months.”
The agency is currently talking with two non-competing brands and a South based retail chain for the study.
“The willingness to strategise in ad spends on the part of the advertisers is vital for the success of this study. This study will help us in understanding the differences between a consumer, a shopper and a buyer in a more lucid and clear manner,” Gunthey observed.
Talking about the second stage of the proposed study, Gunthey disclosed that there were plans in a year down the line to get in touch with the retail developers and expand the study to learn more on mall management and optimise the media with respect to the retailer as well as the brand manager.