Tech firm Circana and the Co-op have announced a new multi-year agreement, extending a partnership that has “helped transform how Co-op, its suppliers and partners use data and insights to drive growth, improve collaboration and create value for members and customers,” the Co-op said.
Since launching in 2020, Circana’s data analytics platform, HIVE, has become a central part of Co-op’s data strategy, enabling Co-op and its suppliers to “work from the same data and build a shared understanding of customer behaviour, category performance and market trends,” the Co-op added.
HIVE brings together EPOS transactions, shopper insights, loyalty metrics, purchasing behaviours and market performance to provide a single view of performance across the business.
Evolving retail
The partnership has continually evolved to meet the changing needs of the retail industry. The renewed agreement marks the next phase of HIVE’s development, further “strengthening Co-op’s ability to unlock value from its data assets while helping suppliers make faster, more informed decisions,” it said.
Over the next five years, Circana and Co-op will expand the platform’s capabilities through the integration of new data assets and measurement solutions, including supply chain, quick commerce and wholesale insights.
This broader ecosystem will create a more connected view of performance across the Co-op business, helping “identify growth opportunities, strengthen supplier collaboration and support decision-making across commercial, category and operational teams,” Co-op said.
Deepened relationship
Imran Rasul, chief commercial officer at Co-op, said: “We’re delighted to deepen and extend our relationship with Circana. The next evolution of HIVE will provide suppliers with broader, more connected insights across our business, enabling faster decision-making, stronger collaboration and greater opportunities for shared growth.
“Together, we’re creating a platform that helps turn data into action and supports long-term success for both Co-op and its partners.”
Cari Memmott, SVP Retail UK at Circana, added: “Circana is delighted to extend its partnership with Co-op. The renewal reflects the strength of our longstanding relationship and our shared commitment to driving growth through industry-leading data, insights and technology.
“Together, we’ll continue to enhance collaboration between Co-op and its supplier partners while supporting initiatives that create lasting benefits for local communities.”
No comments yet