SOURCE: MasterCard Worldwide
PURCHASE, NY--(Marketwire - January 12, 2010) - MasterCard Worldwide today introduced MasterCard Advisors Merchant Solutions, (www.mastercardadvisors.com/merchants). This first-of-its-kind suite of information products, data analytics and marketing services will enable decision makers across merchant organizations to understand spending activity in their industry category; evaluate their sales performance against their competitive set; and focus direct marketing efforts to target the very best prospects and hard to reach segments. This offering underscores the information power of the MasterCard Worldwide Network, the strong merchant relationships of MasterCard's U.S. Commerce Development function, and the expertise of MasterCard Advisors, the company's professional services arm, to provide merchants with actionable business intelligence that can inform strategy and marketing decisions.
"In today's highly competitive and challenging retail environment, detailed and timely information is essential to effectively managing one's overall business," said David Clarke, Group Executive, U.S. Commerce Development, MasterCard Worldwide. "We have a long history of working with merchants, and just about every one we speak to states the need for enhanced, actionable information and more effective marketing solutions.
"Advisors Merchant Solutions is in response to that need. These are powerful solutions for decision makers across the organization -- from marketing and operations to real estate and finance. They help enable far more informed decision-making on critical issues such as inventory management, store location planning, market share tracking, as well as strategies to attract customers and improve spending volumes."
Tapping into MasterCard Advisors' unique capabilities, this suite of information and marketing solutions was developed by the application of advanced analytic and/or behavioral modeling techniques to reported activity in various channels of the MasterCard Worldwide Network. Advisors Merchant Solutions robust reporting, modeling and consumer behavioral segmentation capabilities are based on the billions of transactions processed each year from across the 340 million MasterCard-branded credit, charge and debit cards issued in the United States. Reporting also incorporates estimates of sales by all other payment forms in retail sectors (cash, check, debit, charge and credit card sales across all networks), thus providing a complete view of retail activity at both a national and local level.
"With Advisors Merchant Solutions, MasterCard is putting the full power of its data and analytics capabilities at the service of merchants," notes Andrew Woodward, Senior Vice President, Merchant Solutions for MasterCard Advisors. "Comprised of SpendingPulse, Benchmark Analytics and Custom Marketing Solutions, this is a strong offering of unique data-driven information and marketing services. Together they allow companies to benchmark their sales performance against their industry category, better anticipate demand, and target marketing efforts, by leveraging real spend behavioral data. This has not previously been available."
Since the pilot program began, Advisors Merchants Solutions has been engaged by several leading retailers including hhgregg, a super-regional appliance and electronics retailer.
When hhgregg engaged Advisors Merchant Solutions to help with acquiring new customers, the results significantly outperformed the penetration rate compared to similar prior promotions. The retailer increased its market share in the consumer electronics and appliances industry category among those targeted, compared to the control group.
"We were impressed with the sophisticated behavioral and data driven marketing approach Advisors took, as well as the turnkey nature of the engagement," said hhgregg Vice President of Marketing Jeff Pearson. "We enjoyed working with their team -- not only for their savvy advice, but for the results they delivered."
Advisors Merchant Solutions suite is made up of three distinct components:
-- SpendingPulse™(1) is a macro-economic indicator reporting on
national retail sales. Based on aggregate sales activity in the MasterCard
payments network coupled with survey-based estimates for certain other
payment forms such as cash and check, it has come to be one of the
timeliest and most accurate sources of information about consumer spending
activity. Sector reports include those on Airlines, Specialty Retail and
Apparel, Auto Parts and Tire Sales, eCommerce, Electronics & Appliances,
Furniture & Furnishings, Gasoline, Hotels & Lodging, Jewelry, Luxury,
Restaurant and Department Stores.
-- Benchmark Analytics is a web-based application that delivers
behaviorally-based competitive intelligence by analyzing merchant
performance against the industry category and/or a set of competitors,
nationally by state, all the way down to defined MSAs or DMAs. The insights
can inform critical decision making on advertising/marketing, buying and
merchandising, and retail operations.
-- Custom Marketing Solutions identifies cardholders of participating
banks that represent the best prospects for merchant marketing offers.
Leveraging actual behavioral data to identify best prospects, and
developing tailored offers geared to specific target segments, merchants
can efficiently drive customer acquisition, win back lapsed customers and
increase spend.
View video on Advisors Merchant Solutions: http://tinyurl.com/yan276l
About MasterCard Advisors
MasterCard Advisors provides payments consulting, information, analytics, and customized services to financial institutions and their merchant partners worldwide. Addressing complex challenges in strategy, marketing, risk, and operations, MasterCard Advisors helps clients maximize the value of their businesses. As the professional services arm of MasterCard Worldwide, MasterCard Advisors is uniquely qualified to provide clients with insights and solutions that drive tangible impact and financial gain. For more information, go to www.mastercardadvisors.com.
About MasterCard Worldwide
MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes approximately 21 billion transactions each year, and provides industry-leading analysis and consulting services to financial-institution customers and merchants. Powered by the MasterCard Worldwide Network and through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to www.mastercard.com. Follow us on Twitter: @mastercardnews. (1) SpendingPulse does not represent MasterCard financial performance.
