Revionics, an end-to-end merchandise optimization solutions provider, has established a global strategic alliance with Nielsen Holdings, the consumer information and insights company. As part of the agreement, the companies will integrate the Nielsen Pricing Insights with the Revionics Life Cycle Price Optimization solutions.
The alliance was established to help retailers formulate more strategic, tactical pricing decisions based on local marketplace and shopper data. Using the joint solution, retailers will be able to adjust product pricing based on product demand, market conditions, and consumer behaviors and preferences.
“The reality of the competitive retail landscape places intense pressure on retailers,” said Kevin Sterneckert, VP of Research – Consumer Value Chain at Gartner, in a press announcement. “Through the advanced analysis of consumer behavior, retailers can identify items or categories of merchandise where the consumer expects or allows flexible pricing.”
In addition, the new solution provides enhanced visibility into a retailer’s competitive pricing environment and Key Value Items (KVIs) at a local level. Additional solutions released by the partnership will be announced in 2014.