US Firms Partner for Real-Time Pricing Intelligence

In the US, retail price optimization specialist Revionics, Inc. has announced a partnership with online competitive intelligence provider RivalWatch, aimed at helping clients to adjust their pricing strategy in real-time.

Revionics' Life Cycle Price Optimization Solutions include data on base, promotion and markdown pricing, delivering an integrated forecast with an overview prediction of customer demand across all decision areas. RivalWatch's technology provides near real-time access to competitors' on-line price and assortment information, delivered via web-based reports to the client's desktop.

The partners say the combination of their services will give clients the edge in a world of multi-channel or 'Omni-Channel' shopping which integrates brick-and-mortar, online, mobile devices and others. The use by some customers of a combination of channels in their relationship with the same brand - referred to by the firms as 'non-linear shopping episodes' - is increasing, and creating a need for brands to co-ordinate their promotional and pricing efforts.

Marty Hodgett, President and CEO of RivalWatch, says the agreement will 'help retailers price more competitively while identifying opportunities to maximize margins across channels and categories'. His Revionics opposite number Marc Hafner comments: 'With consumers increasingly becoming more omni-channel in how they research and purchase products, retailers require pricing insights that accurately predict and quickly adapt to consumer buying behavior and motivators.'

Web sites: www.revionics.com and www.rivalwatch.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.