Market research provider NPD Group Inc., Port Washington, NY, and Parkod Europe signed a memorandum of understanding that will lead to a strategic partnership, company executives said. Parkod Europe is the creator of the leading European selective beauty product classification and in-store retail point-of-sale (POS) system.
The combined companies will provide beauty retailers and manufacturers with access to market information in order to identify key market developments and trends that will enable them to grow their businesses. The European rollout of selective beauty POS tracking will be France, while discussions are underway to expand the tracking to include Italy, Germany, Spain and the UK.
Information provided by the partnership will include point-of-sale results on what and where consumers are buying, and how these habits are changing over time.