NielsenIQ adds fresh impetus to supplier diversity initiatives
NielsenIQ is committed to bringing more diversity into the CPG (consumer packaged goods) industry through various business initiatives. Recently, we have launched the ‘Trailblazer Program’ in partnership with black-owned Navigator Sales & Marketing’s non-profit organization, Lighthouse Foundation, to maximize the potential and performance of minority-owned businesses.
Trailblazer Program is a part of our larger supplier diversity endeavour, which aims to increase the visibility and success of minority-owned businesses in the U.S. with our clients and in the industry. The program kicked-off on 13 September 2021 and will continue to run for three months, producing in-market, data-driven reporting and actionable insights supported by NielsenIQ’s Byzzer platform.
Kymberly Graham, head of diversity initiatives for NielsenIQ in North America, says, “Giving minority-owned businesses access to our data through the Trailblazer program is an empowering initiative that creates equity, drives growth, and gives these brands a competitive edge.”
NielsenIQ has issued nearly US$60,000 pro bono data subscriptions to support minority-owned businesses as part of this program. The annual revenue of the minority-owned businesses enrolled in this program range between US$10,000 and US$425,000. All of the businesses in this year’s program are in the food and beverage category, with many brands having a unique focus on ethnic blends. The most common business objectives that minority-owned businesses are trying to reach in the program include: building a story to sell to retailers, understanding the size of the market in which their company competes, preparing for business acquisition, and building a business case to attract financial investment.
“The Trailblazer program aims to provide these businesses with mentoring, analytical coaching, training, and other resources, such as white-glove service from our customer service team. We also want to support diverse supplier certification attainment as part of the program. There is great potential in minority-owned businesses, and through collective efforts we can enhance the existing CPG landscape with more diverse companies that meet the unique needs of diverse consumer groups,” adds Graham.
Our plan is to extend Trailblazer Program annually, with goals to increase the number of participating minority-owned businesses across different categories in each cohort, along with adding more CPG and retail partnerships into the program.