Revionics and Nielsen Form Global Strategic Alliance
Revionics and Nielsen Form Global Strategic Alliance
Joint solutions raise the bar on the precision of retail pricing
ROSEVILLE, Calif.--(BUSINESS WIRE)-- Revionics, Inc., the leading provider of End-to-End Merchandise Optimization solutions, and Nielsen Holdings, N.V. (NYS: NLSN) , a leading global provider of information and insights into what consumers watch and buy, have signed a multi-year global strategic alliance agreement which will integrate Nielsen Pricing Insights with Revionics Life Cycle Price Optimization solutions. The alliance brings together best-in-class competitive market insights with proven demand-based science and predictive analytics to help retailers quickly make data-driven pricing changes at enterprise scale to capitalize on competitive marketplace conditions.
"Our combined solutions enable retailers to answer critical questions such as the competitive position of their prices to the market, what is the price elasticity of the market, what profit opportunities exist with their pricing strategy, are they growing market share with their price and promotional strategies," stated James Dodge, Vice President, Retail Consulting & Analytics, Nielsen. "Providing answers to these questions empowers retailers to enhance competitiveness and profitability."
Today's retailers are battling intense pressures from existing competitors, format encroachment by new competitors, rising commodity costs and increasingly price-conscious, deal-seeking, knowledgeable shoppers who rapidly shift their buying behaviors. To compete more profitably, retailers need to make better strategic and tactical decisions based on marketplace and shopper analysis rather than gut feel—and respond quickly to dynamic marketplace conditions. For retailers to find success in today's price transparent world, they need to systematically leverage comprehensive market insights and optimization technologies to execute impactful price and promotion strategies in the market.
"The reality of the competitive retail landscape places intense pressure on retailers," said Kevin Sterneckert, Vice President, Research - Consumer Value Chain, Gartner. "Through the advanced analysis of consumer behavior, retailers can identify items or categories of merchandise where the consumer expects or allows flexible pricing."
Revionics Price Optimization Infused with Nielsen Pricing Insights to Offer Better Visibility into a Retailer's Competitive Pricing Environment
The initial solution, which is immediately available, integrates Revionics Price Optimization and Nielsen Pricing Insights. This combined solution provides enhanced visibility into a retailer's competitive pricing environment and Key Value Items (KVIs) at a local level. Through the alliance, Nielsen will provide Revionics with its comprehensive Nielsen Pricing Insights, which provides more granular information to show specific price points that consumers are paying and the volume sold at those price points in the competitive marketplace. Revionics Price Optimization integrates Nielsen Pricing Insights to appropriately weigh the importance of the individual prices along with other optimization engines and business rules. Revionics Price Optimization infused with Nielsen Pricing Insights will allow retailers to adapt to marketplace changes quickly and stay more competitive.
Additional solutions will be available in 2014.
"Nielsen is the leader in offering global data and insights and we are excited to be working together to empower retailers to leverage data-driven strategies and have constant intelligence about their competitive pricing environment, resulting in optimal pricing and promotion strategies," said Marc Hafner, Revionics' President and CEO. "Offering retailers superior visibility into market opportunities and their competition will help retailers substantially improve customer loyalty, profits and margins."
About Revionics, Inc.
Revionics delivers the industry's most powerful End-to-End Merchandise Optimization solution, enabling retailers of all sizes to execute a fact-based Omni-channel merchandising strategy utilizing the most comprehensive set of shopper demand signals to enhance financial performance with improved customer satisfaction. Revionics' solutions leverage advanced predictive analytics and demand-based science to ensure retailers have the right product, price, promotion, placement and space allocation for optimal results across all touch points in the Omni-channel shopping episode - online, in-store, social and mobile. Offered on a scalable, high performance Cloud-based SaaS platform, these solutions future-proof retailers from Big Data/Fast Data challenges, while providing speed-to-ROI. Over 33,000 retail locations and $140+B in annual revenue across grocery, drug, building materials, convenience, general merchandise, discount, sporting goods stores and eCommerce sites optimize with Revionics' solutions. Revionics has been recognized as a 2012 Deloitte Technology Fast 500™, Red Herring Top 100 Global, Red Herring Top 100 Americas and JMP Securities' Hot 100 Software Company. For more information, please visit www.revionics.com.
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