Streetbees launches inflation busting Cost of Living Monitor to help major retail brands
Streetbees, which is an AI-powered consumer intelligence platform, has launched its Cost of Living Monitor in China, Brazil, India, the UK and the US.
The business says that the cloud-based SaaS solution helps CPG brands like Unilever and Mars protect market share while consumers are cutting costs, by tracking trade-offs, channel shifts and brand loyalty.
Streetbees’ recent Cost of Living Monitor reveals that 30% of consumers in China, Brazil, India, the UK and the US have changed their shopping habits for groceries and other essential items in the last 3 months:
○ 51% are more actively looking for promotions
○ 46% are switching to cheaper / private label brands
○ 29% are cutting out products completely
When it comes to trade-offs, consumers are more likely to switch brands (29%), before switching products (21%) or stores (15%). More insight can be found in Streetbees Cost of Living Monitor Report.
“We are excited to introduce this AI powered intelligence to the market,” says Tugce Bulut, CEO and Founder of Streetbees. “This groundbreaking solution helps CPG brands across the globe remain close and relevant to their consumers so they can build a winning brand strategy to combat inflation. We’re thrilled to be launching the Cost of Living Monitor across China, Brazil, the UK, US and India to help our clients navigate this crisis as it unfolds”.