Food for Thought
Grocery Store Price Index: Our latest resource
Nov 01, 2021
At Datasembly, transparency is everything – it’s even in our vision:
Datasembly believes in creating total transparency for every product being sold everywhere.
Today, we’re excited to share a new resource that takes transparency one step further:
Our Grocery Price Index™ provides the broadest set of standard metrics for tracking and understanding pricing trends in the grocery industry. It measures weekly changes in pricing for grocery products using data collected from over 130,000 stores and over 180 retail banners that span over 30,000 zip codes across the United States. We’re leveraging our unparalleled product data, which collects over two billion product prices daily, with hyper-locality that is second to none.
This free tool allows users to drill down to specific geographies, across 14 major categories, giving retailers and brands the most holistic look at the local competitive landscapes for the most valuable insights. The index can also be localized to see trends in 54 of the largest major metropolitan areas in the U.S. and further refined by population density to help understand the variances between rural and urban areas..
We know that it’s important for the grocery industry to understand pricing trends, especially in such volatile times. Since we have the largest, most hyper-local, real-time data that includes the historical reference, we created the index to give this visibility to ourselves, our customers, and to the general public.
There has been a dramatic change in the rate of grocery price inflation, in 2021, starting in Q1 with an average monthly increase of .43%, to Q3 where the average monthly increase has nearly doubled to .83%. September, by far, has had the highest rate of monthly increase of the year at 1.18%. The Q3 increases alone surpass the USDA 20 year annual average.
We’ll be updating the Grocery Price Index™ every week – but the index is just the beginning of the detailed insights that are available using Datasembly’s data.
Our platform translates massive amounts of product information into a customized pricing and availability platform to meet each organization’s unique needs. Never before have CPGs and Retailers been able to access up-to-the-minute competitive pricing data in real time, at such an incredibly granular level. To see firsthand how our data insights can grow your business, schedule a customized demo today!