Information services provider StoreNext Israel said Monday it signed an agreement with Israel's largest grocery retailer, Supersol, which will enable it to provide real-time market share data covering 70 percent of the local food and fast moving consumer goods market.
StoreNext said its Web-based OLAP reporting system allows suppliers and retailers to monitor market share, product availability and average prices in "almost real time" and the inclusion of Supersol means it now covers sales data valued at approximately NIS 23 billion per year.
"The StoreNext system is used by a majority of suppliers and distributors in the Israeli market and by overseas companies operating in Israel," said Yoram Sagi, CEO of StoreNext.
The Petah Tikva-based company said it is gathering data from over 1,000 stores and already counts some of the Israeli consumer markets leading retailers and suppliers including Tnuva, Coca Cola Israel and Osem.
StoreNext's Smart system collects and processes the sales and pricing statistics automatically giving the suppliers and distributors access to trends such as the effectiveness of marketing campaigns and the true size of the market.
StoreNext is owned by point-of-sale software supplier Retalix, Coca-Cola Israel, IsraCard and Discount Investment Bank.