IRI partners with Banyan to unlock new opportunities for retailers and consumers
Consumers gain insight into spending history, enabling more-informed decision-making, and benefit from enhanced shopping experiences.
IRI and Banyan, a fintech infrastructure startup that connects SKU-level consumer receipt data with financial transactions, have announced a new partnership that will provide IRI’s retailer clients with a more holistic view of consumer shopping habits and opportunities to generate new revenue streams while giving consumers greater visibility into their spending.
“IRI is excited to partner with Banyan to facilitate this win-win opportunity for our retailer clients and their customers,” said IRI President of Market and Shopper Intelligence Jeremy Allen. “While many retailers have an increasingly granular view of consumer shopping behavior within their four walls and e-commerce platforms through loyalty programs and other sources, IRI will now be able to deliver a broader understanding of deidentified consumers’ total wallet spend across all channels and outlets by integrating consumer spending data from Banyan’s partners. Our partnership with Banyan drives growth for our retailer clients in two ways: It unlocks significant marketing opportunities to meet consumers’ evolving needs by providing a more comprehensive understanding of consumer spending, and it provides retailers with opportunities to monetize their highly valuable data assets.”