Revionics and Nielsen Form Global Strategic Alliance

Revionics, Inc., a provider of merchandise optimization solutions, and Nielsen Holdings, N.V., a global provider of information and insights into what consumers watch and buy, have signed a multi-year global strategic alliance agreement. The combination of best-in-class competitive market insights with proven demand-based science and predictive analytics should help retailers answer critical questions such as whether their prices are competitive, what the price elasticity of the market is, what profit opportunities exist with their pricing strategy, and whether they are growing market share with their price and promotional strategies.

The initial solution, which is immediately available (additional solutions will be available in 2014), 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.

Many other retail pricing optimization solutions use Nielsen’s Market Average Price, which is a single average price point across the many competitors that a retailer faces in a given market. In fact, it would be rare if the market average were the actual price of any competitor.

Nielsen Pricing Insights provides more granular information to show specific prices that consumers are paying and the volume sold at those price points. Along with other optimization engines and business rules, Revionics Price Optimization integrates Nielsen Pricing Insights to weigh the importance of individual prices.

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 buying behaviors. To compete more profitably, they must make better strategic and tactical decisions based on marketplace and shopper analysis.
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