NielsenIQ acquires product attribute platform Label Insight
The strategic acquisition gives the company access to product attribute data covering roughly 99% of all online consumer queries across over 80% of U.S. food, pet and personal care products.
With a market-leading database of over 200,000 product nutrients, 400,000 product ingredients and 9 million product claims, Label Insight’s premier product metadata platform enables brands and retailers to help shoppers find the products that meet their individual health, wellness and lifestyle needs.
“Currently, 80% of consumer health and wellness preferences are not being met when searching for products online,” said Jeanne Danubio, President of NielsenIQ, North America. “NielsenIQ’s acquisition of Label Insight supercharges a mission to help retailers and manufacturers better meet the needs of the health and wellness-focused consumer with a one-stop-shop of powerful solutions for the digital future.”
Label Insight has raised $35.5 million (€29.1 million) from investors over the years. Terms of the deal are undisclosed.