By  on November 23, 2015
Andy Mantis

To crack the Millennial code, NPD Group Inc. is turning to the humble receipt.

According to Andy Mantis, executive vice president of checkout services at The NPD Group, “a receipt is a treasure trove of data,” providing marketers with crucial information such as a store’s name and address, date and time of purchase and details ranging from stockkeeping unit numbers to discounts. Port Washington, N.Y.-based NPD implemented checkout tracking last year to harvest the information listed on paper and electronic receipts to understand consumer spending, especially with the coveted but unpredictable demographic known as Millennials. Thus far, more than 65,000 participants use NPD’s phone app and the service scanned more than 2.5 million inboxes for e-receipts. It tracks in excess of 30 million items each month from people willing to share their private information.

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