We’re delighted to announce that early tests of the new VYPR Score have proven a direct link between Steer responses (the questions we ask our panel) and future rates of sale.
Ben Davies, CEO and Founder: “In testing, our modelling teams analysed Steer responses from clients participating in the study and mapped them to live sales data. As you can see from the graph, the data clearly shows that the higher the VYPR score, the more products were sold. Simple. We believe that the VYPR score will very soon become the industry standard for manufacturers and retailers throughout the UK, as we can show what that score means for future product commercial performance and our platform can help you to test and iterate your way to better EPD and NPD over time”.
Each dot on the chart represents a product that was tested on VYPR and released in store. We've plotted products in terms of the score they received and the rate of sale achieved. The score is calculated with reference to other products tested on the platform. Rate of sale is measured in terms of sales per store and has been indexed using the category average as a base.
As you can see from the blue line of best fit, there's a clear positive relationship between the two. This gives us reassurance that our score prototype may be used to predict sales in future. We've plotted the confidence interval for the sales estimates in grey. At this early prototype stage, the confidence interval is quite large, particularly at the extremes. We need more data on sales in order to add more data points, shrink the confidence intervals, and make more accurate estimates.
If you're interested in receiving volumetric estimates from the steers we get from consumers, please get in touch.
The Science of Competitive Advantage.
From initial concepts, product names, branding and packaging to ingredients, colourways, pricing and marketing messages, the anatomy of every product is different and it can be difficult to decipher what is truly driving success and purchase behaviour in store. Every week, we test 1000s of variables that make up every product with consumers, providing fast, statistically robust and consumer-led intelligence to enhance, accelerate and predict existing/new product performance.
We've never had access to so much data. However, the unconscious decision making processes of shoppers remains untapped. Our technology is fuelled by sophisticated data and behavioural science that unlocks our understanding of these drivers for the first time.
Get To Better Products Faster.
Ask anything of our panel of 1000s of consumers, available 24/7 via the VYPR App and website. Sit back and watch the results as they come in. VYPR makes rapid prototyping a reality, enabling suppliers and retailers to quickly validate unlimited hypotheses throughout the NPD process, from early stage product development to prelaunch refinement. Our geo-fencing technology enables consumers to answer questions live, during their shopping missions in store and at fixture.
Over 90% Of Clients Generate ROI & Renew Their VYPR Licence Every Year.
VYPR can save you £000s in product development and failed launch costs, as well as getting your product to market faster. That’s why the UK’s leading product developers, marketers, commercial managers, category managers and buyers choose to deploy VYPR every day. Every SKU can be optimised to the nth degree, ensuring that every product achieves its greatest potential.
Contact us now to road-test VYPR.
To learn more about how VYPR can help you, simply dial +44 (0) 161 694 6320 or complete our contact form below.
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