INTERNATIONAL. The Moodie Davitt Report today unveils the first stage of an ambitious new travel retail consumer research platform after striking an agreement with Voiceback Analytics (VBA).
VBA is an acclaimed Indian data analytics house which uses the power of modern algorithms to extract actionable insights from raw data.
The Bengaluru-based company is highly regarded across multiple sectors for its utilisation of technology to differentiate results from existing consumer panel studies.
Earlier this year The Moodie Davitt Report called for Expressions of Interest (EOI) in partnering on high-quality research and insight studies related to the travelling consumer worldwide. The programme will embrace shopping, food & beverage, and other travel-related activities.
As a result of that EOI, The Moodie Davitt Report has identified several high-class partners, which the company will work with as appropriate (geographically and expertise-wise) to each project. VBA is the first chosen partner under the research umbrella.
Under that framework, VBA is developing a study themed, ‘Understanding the outbound traveller from China & India in post COVID times’. The results will be showcased at the Moodie Davitt Virtual Travel Expo in October.
VBA has initiated a primary survey in China and India to analyse the impact of the pandemic on travel behaviour among both nationalities. The study will embrace a sample size of 2,000 international traveller respondents in both China and in India. The sample will cover individuals from top outbound cities in each country.
The study will deploy VBA’s proprietary algorithms to focus on changes of behaviour and the impact those changes will have on travel retail businesses. VBA will utilise its unique model of measuring both perception of risk and perception of importance of each activity. A cross matrix of these two will be used to predict future behaviour and its impact on various categories and subcategories.
“Voiceback Analytics came highly recommended to us by numerous figures we respect greatly in travel retail,” said The Moodie Davitt Report Founder & Chairman Martin Moodie. “We were then super-impressed by their response to the EOI and the integrity and veracity of their approach and methodology. We look forward to working with the team on this inaugural study and many others in the future.”
“This is just the beginning of a long partnership with VBA as well as a wider development of our services, from consumer-driven studies to various business research platforms we offer,” added The Moodie Davitt Report Senior Retail & Commercial Analyst Min Yong Jung.
VBA Managing Director Manishi Sanwal said, “We are very happy to partner with The Moodie Davitt Report for this study. Moodie Davitt has an unparallelled understanding of the travel retail sector. We will draw upon this resident knowledge to design a research product that we aim to become the best knowledge tool for the industry.”
Sanwal was CEO of Flemingo, the biggest Indian duty free retailer from January 2018 to late 2019. He spent earlier stints as Managing Director, Mumbai Duty Free (Flemingo and DFS) and in several senior roles with LVMH in India, including General Manager, Indian Subcontinent for LVMH Watch and Jewellery.
[Click on the video to learn more about Voiceback Analytics]
The importance of the study into consumer behaviour comes at a critical time as sector stakeholders try to assess the behavioural impact of the pandemic – both during and post the crisis. This launch study targets Chinese and Indian consumers with market specific analysis on consumer behaviour impacts in the short and long term.
Key areas of focus:
- Different impact of COVID-19 risk by product category in travel retail
- Impact on turnover by product category
- Impact on travel destinations and preference of flying direct or through connecting airports
- Perception towards brand ambassadors and the importance of ambassadors in a post-COVID world
- Future of retail design and importance of technology in developing non-human interaction aspects to the environment
- Increase or decrease in use of self- operated applications or robotic dispensers over human intelligence
- The development of Hainan’s offshore business and consumer perception of that opportunity
- Change of travel destination choices for Indian vacation passengers
- The impact of changes in travel behaviour by key destinations for the Indian Passenger
- Changes in consumer purchase behaviour/perception resulting from the global surge in ecommerce usage and retailer deployment
- Breakdown of travel retail by leisure and business travel in terms of the impact from COVID-19
The study will create a framework to aid the travel retail community to assess and forecast impact on sales revenue at a granular level. The partners will also work with industry stakeholders to develop forecasting models using the granular components of our research.
Voiceback Analytics will share key findings from the study during the Moodie Davitt Report’s Virtual Travel Retail Expo (12-16 October).
|ABOUT VOICEBACK ANALYTICS
Voiceback Analytics is focused on providing Data Analytics-based solutions to business problems.
“We get the data to speak”
The company embodies a powerful combination of three diverse specialties – Market Research, Operations and Technology – to solve business problems and find avenues for growth. We have combined our 15-year history of Market Research & Analysis with the latest Data Management and Analytics Techniques to provide solutions to complex business problems.
We don’t see ourselves as a consulting company with a one-time recommendation. We dive deep and find data-focused solutions for actual business problems. We then hand hold clients through the execution process by continuously monitoring the outputs.
Data requires sophisticated tools to process and sophisticated minds to infer. Our teams are multi-faceted with years of operating experience in Consulting, Research, Retail, Brands, Distribution, Supply Chain and Logistics.
This background provides us the ability to understand real-life processes and then mathematically model them. The operating teams work seamlessly with our back-end team of Data Scientists, Statisticians and Engineers to run these models and find optimal solutions. We have an ability to collect primary & secondary (structured & unstructured) data. We can combine it with our client’s data to get a complete view and solve real-life business problems.
Born out of a growing client demand for instant feedback, Voiceback Analytics has been creating unique and innovative tools which help our clients to seamlessly obtain customer feedback in varied scenarios. Our products are compatible with and run on multiple platforms, which in turn helps our clients to interface with their customers 24/7 irrespective of location. This thereby not only aids in obtaining feedback but also in predicting future behaviour.
Voiceback Deep is a combination of Art & Science. Our experts sit with the client to understand their challenge and their data. We also collect primary & secondary data both structured and unstructured to complete the models. Our teams use the most sophisticated tools and techniques to mine the data and suggest solutions. We create customised dashboards and tools for you to monitor and effectively run your business.
Tools, Techniques, Platforms
We use various tools and techniques to identify and solve your problems. These include Descriptive analytics, Timelines analytics, Regression & correlation, ANOVA-based analysis, Natural text & language processing, Audio and video analysis, Word Maps, Heat Maps, Sentiment Analytics, Predictive analytics, Automated data extraction & scraping.
Our teams are expert at most advanced analytics Languages and packages used for analytics. These include C, C#, asp.net, R, Python, Node JS & Java. We use Database solutions on a SQL Server. We also have capability for API and REST API for integration purposes.
Please visit us at www.voicebackanalytics.com quoting ‘Moodie Davitt’ for more details on our existing customers and case studies.