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CHICAGO -- Information Resources, Inc. (IRI) and The NPD Group, Inc. are collaborating to launch the Beauty Cross Channel Monitor, which the partners said is the U.S. beauty industry's first cross-channel retail tracking system.
The new program will be rolled out this month, the partners said. It will provide insights for a wide range of beauty categories, including fragrance, cosmetics and skincare, from U.S. food, drug and mass outlets, excluding Wal-Mart. The market intelligence will also include department stores.
"The lack of beauty industry coverage has made it difficult to understand the size of the total beauty sales opportunity," said Steve Johnson, e.v.p./healthcare & personal care, client solutions for IRI, based here.
The new Beauty Cross Channel Monitor will aim to provide a broader understanding of market share for brands, categories, and segments, while additionally providing a valuable resource to help discover what is driving trends in the U.S. beauty industry, including the fragrance category, cosmetics, body, face, hair care, and sun care, IRI said.
"The beauty consumer is evolving and it is critical to have objective information that crosses multiple channels," said Diane Nicholson, president of NPD Group's beauty unit. "This new product provides a wider view of the beauty marketplace enabling our clients to make the best decisions for their businesses."