Veryfi Insights report shows that companies that invest in Super Bowl ads may see increased brand awareness, loyalty, and sales as a result
SAN MATEO, Calif., February 21, 2023 – Veryfi, using artificial intelligence (AI) technology to instantly transform documents into structured data that consumer packaged goods (CPG) companies use for cross-basket insights, analyzed supermarket shopper receipts in the week leading up to the Super Bowl.
This latest installment of Veryfi Insights used shopper receipt data to identify factors that contribute to the success of snack brands during the Super Bowl, and what strategies brands can employ to improve their sales in the future. The analysis showed that brands leveraging the excitement and anticipation leading up to the game can tap into a captive audience of millions and create campaigns that leave a lasting impact on brand awareness and loyalty.
“Veryfi’s analysis of supermarket shopper receipts in the week leading up to the Super Bowl is a powerful demonstration of the potential of cross-basket analytics in understanding consumer behavior,” said Ernest Semerda, co-founder and CEO, Veryfi. “By launching campaigns in the week leading up to the Super Bowl, brands can trigger a jump in sales while connecting more closely with customers and the Super Bowl audience.”
The ability of AI to instantly transform receipts into structured data provides insights that were previously impossible to obtain. By analyzing supermarket shopper receipts, Veryfi was able to identify shifting preferences in consumer behavior in the lead-up to the Super Bowl, and this information can be used by brands to inform their loyalty marketing and advertising strategies.
Anheuser-Busch InBev dominated the beer category during the Super Bowl, with Bud Light, Budweiser, and Michelob Ultra all ranking in the top three in sales for the week leading up to the event. Coca-Cola’s success in the soft drink category is also notable, with the brand outperforming Pepsi by a significant margin. However, it’s worth noting the large increase in sales for Pepsi Zero in the week leading up to the Super Bowl, which suggests that the brand’s advertising campaign preceding the big game may have paid off.
In the chip category, PepsiCo’s Lays and Doritos brands emerged as clear leaders, indicating the popularity of salty snacks during the Super Bowl. Contrary to some predictions, despite more affordable avocado prices, a lack of increase in avocado or guacamole sales versus the preceding year’s worth of sales data may suggest that customers were not motivated by any price changes.
Hellman’s mayonnaise is the leading U.S. mayo product. However, the substantially greater popularity of Hellman’s mayonnaise over Heinz ketchup and French’s mustard is a surprising finding, as ketchup and mustard are often considered staple condiments for Super Bowl parties.
“Through Veryfi Insights we’ve proven that consumer shopping receipts deliver cross-basket insights, greater personalization, and better customer loyalty to CPG brands and the marketing agencies supporting them,” continued Semerda. “Building on our momentum gained in 2022 with loyalty marketing organizations, we see increasing numbers of CPG brands and agencies that are using receipts to drive customer loyalty and mitigate any impacts caused by economic uncertainty.”
Unlike most consumer surveys that solicit feedback from a few thousand people, Veryfi draws its insights on data collected in the aggregate from millions of opt-in receipts extracted by the Veryfi OCR API Platform. In this way, Veryfi’s technology offers an unprecedented real-world view into shopping trends. Veryfi customers in the Consumer Packaged Goods (CPG) industry can gain insights into consumer behavior through analysis of ‘cross basket’ purchases, that is, by examining all line items on a purchase receipt.
Veryfi provides the only mobile receipt capture technology that includes AI computer vision for receipt detection and image enhancement, as well as a long receipt capture mode. It helps transform unstructured documents into structured data – tapping into data that was previously unavailable for analysis.
By eliminating manual data entry, Veryfi enables organizations to accurately capture, extract and transform documents such as receipts, invoices, purchase orders, checks, credit cards, and W-9 forms into structured data, at scale. Veryfi uses advanced AI/ML technology, trained by hundreds of millions of documents over the past five years, to extract data and transform it into a structured format for 85 currencies, 39 languages, and over 110 defined fields such as vendor, total, bill to/ship to, purchase order and invoice numbers, any line item (product name, SKU, description), taxes, and more, which can then be accessed for a wide variety of business applications.
For more on The Super Bowl Snack Battle, read here.
Go here to learn more about turning receipts into valuable consumer insights: info.veryfi.com/value-of-receipt-infographic.
About Veryfi
Veryfi empowers organizations to capture, extract and transform unstructured documents including receipts, invoices, purchase orders, checks, credit cards, and W-2s into structured data at scale. The company’s technology reduces or eliminates manual data entry and unlocks valuable business intelligence in seconds. Trusted by enterprises and software companies alike, Veryfi’s AI-driven platform delivers fast, accurate, and secure data to hundreds of companies globally.
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Media Contact
Joseph Eckert for Veryfi
Eckert Communications