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NEW YORK -- Nielsen Holdings N.V. signed a multi-year global strategic alliance with Revionics Inc. The companies have subsequently integrated Nielsen Pricing Insights with Revionics Life Cycle Price Optimization solutions.
According to both companies, 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 within the pricing strategy, [and] are they growing market share with their price and promotional strategies," said James Dodge, vice president of retail consulting and analytics for New York City-based Nielsen. "Providing answers to these questions empowers retailers to enhance competitiveness and profitability."
The alliance's combined Pricing Insights and Life Cycle Price Optimization solution is available immediately. It is intended to enhance a retailer's competitive pricing environment and key value items at a local level.
"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 that 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."
The two companies will launch additional solutions in 2014.
Nielsen is a global provider of information and insights into what consumers watch and buy.
Roseville, Calif.-based Revionics offers a wide variety of solutions that leverage advanced predictive analysis and demand-based science to ensure retailers have the right product, price, promotion, placement and space allocation for optimal results.