SAN MATEO, Calif. — Coca-Cola buyers appear more loyal to the brand's beverages but favor PepsiCo’s snacks, Veryfi, a company that provides artificial intelligence technology to analyze consumer shopping habits, has found. Coca-Cola consumers, however, favor PepsiCo’s Gatorade over Coca-Cola’s Powerade.
“Coca-Cola Co. fashions itself as a ‘total beverage company’ and doesn’t offer snack foods, but shouldn’t it pursue opportunities to link up with other snack providers to cut into PepsiCo’s share of wallet?” said Ernest Semerda, co-founder and CEO of Veryfi. “Conversely, should PepsiCo more aggressively promote cola sales to buyers of its potato chips, tortilla chips and corn puffs products? It’s this kind of instant cross-basket insight that brands need to increase revenue and loyalty. By analyzing line-item data on receipts to understand buying patterns and shopping behaviors, brands can gain unprecedented visibility into their customers and prospective buyers.”
Veryfi, based in San Mateo, Calif., also found that grocery shoppers nearly always include water in their baskets, and that’s the most frequent additional purchase that Coca-Cola buyers make, followed by other Coca-Cola-brand beverages and the affiliated Sprite brand.
When buyers of Pepsi are shopping, however, their top additional purchases are Coca-Cola-brand drinks.
Coca-Cola buyers appear more loyal to the brand, as Pepsi is only the 11th-ranked product in their baskets, but PepsiCo’s wide array of snack foods prominently show up in Coca-Cola-buyer carts.
This latest installment of Veryfi Insights analyzes data spanning more than 20 U.S. grocers nationwide to examine brand affinities and relationships that are affecting Atlanta-based Coca-Cola and Purchase, N.Y.-based PepsiCo brands. Unlike most consumer surveys that solicit feedback from a few thousand people, Veryfi draws its insights on data collected in the aggregate from hundreds of millions of receipts extracted by the Veryfi Platform.
Veryfi provides information to companies globally by extracting and transforming unstructured documents including receipts, invoices, purchase orders, checks, credit cards and W-2s into structured data at scale.
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