The partnership between Revionics and Neilsen hopes to help retailers make data-driven pricing changes to enhance profitability.
Revionics, a provider of End-toEnd Merchandise Solutions has integrated with Holdings, NV, a provider of information and insights into consumer habits and actions.
The companies have signed a multi-year global strategic alliance agreement which will integrate Nielsen Pricing Insights with Revionics Life Cycle Price Optimisation solutions. This partnership aims to bring together competitive market insights and demand-based science and predictive analytics to help retailers make data-driven pricing changes at enterprise scale to capitalise on competitive marketplace conditions.
James Dodge, VP of retail consulting and analytics at Nielsen, comments on the integration: "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. Providing answers to these questions empowers retailers to enhance competitiveness and profitability."
The initial solution 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 information to show specific price points that consumers are paying and the volume sold at those price points in the competitive marketplace.
Revionics Price Optimisation integrates Nielsen Pricing Insights to appropriately weigh the importance of the individual prices along with other optimisation engines and business rules. Revionics Price Optimization infused with Nielsen Pricing Insights aims to allow retailers to adapt to marketplace changes quickly and stay more competitive. This initial solution is available immediately and additional solutions will be available in 2014.
Marc Hafner, Revionics’ president and CEO also comments on the partnership: "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. Offering retailers superior visibility into market opportunities and their competition will help retailers substantially improve customer loyalty, profits and margins."