Profitero, the leading global provider of online insights and eCommerce intelligence for retailers and brands, today reports that it has entered into a strategic partnership with Revionics, the global leader in end-to-end merchandise optimization solutions.
Profitero has become an inaugural member of Revionics' Competitive Data Partner Program, enabling retailers to seamlessly incorporate Profitero's online competitor pricing intelligence into Revionics' platform for more effective price optimization.
The Revionics' Competitive Data Partner Program has been introduced to help retailers more easily respond to shifting shopper and competitive behaviour. A recent survey conducted by Revionics across 100 leading retailers reveals that the need for competitive data and insights is critical as they battle intense pressure from consumer price transparency and increased competition.
Profitero's online pricing intelligence can now be easily incorporated into Revionics' price optimization platform at the speed, scale and frequency to capitalize on the ever-changing competitive marketplace conditions.
The program provides a simple to use, standard interface which enables Profitero to directly send its online competitor pricing data and insights to Revionics' Price Optimization as frequently as a retailer needs - hourly, daily, weekly, or even more frequently.
Commenting on the partnership, Vol Pigrukh, CEO and Co-Founder of Profitero, said: "Profitero is proud to partner with Revionics, providing real-time online pricing data to its retail customers. We believe that both brick-and-mortar and online retailers stand to benefit from knowing their online competitors' pricing data in today's hyper-competitive retail environment. Profitero collects online competitor pricing data every day, which is seamlessly delivered into Revionics' price optimization platform for more effective price optimization."
"Systematically incorporating competitive pricing intelligence and then applying science, rules and constraints with strategy ensures retailers are making optimal fact-based pricing decisions", said Marc Hafner, Revionics CEO. "With the continued rise in multichannel shopping and price transparency, operationalizing the use of competitive pricing intelligence at speed, scale and frequency is crucial to a retailer's success."
Profitero's VP Strategy & Insights, Keith Anderson, will be speaking at this week's Revionics' Customer Insight Forum 2014: "Competing on Value and Context in a Transparent Pricing Landscape." Leveraging brand new insights from Profitero's online intelligence platform, this session will help retailers discover emerging approaches to optimizing prices and communicating value against increasingly diverse competition.
Profitero is the leading global provider of online insights and eCommerce intelligence for retailers and brands, offering the largest reach and scale of online data collection in the industry.
We provide both brick & mortar and online retailers with their competitors' prices, promotions and full product assortment information. More than 50 global retailers, including Staples, Waitrose, Ocado, Morrisons, Sam’s Club and Worten, rely on Profitero's accurate and timely competitor price intelligence to make better informed and more profitable pricing decisions, helping them to increase sales as well as margins.
Profitero also supplies brands with critical online insights, helping to enhance their online sales and market positioning. We deliver key online metrics, including share of online shelf, share of voice, pricing, brand price monitoring and new product monitoring, in any country and from any online or multichannel retailer, updated every day.
Revionics delivers proven End-to-End Merchandise Optimization solutions, enabling retailers of all sizes to execute a fact-based omnichannel merchandising strategy utilizing the most comprehensive set of shopper demand signals to enhance financial performance with improved customer satisfaction. Revionics’ solutions leverage advanced predictive analytics and demand-based science to ensure retailers have the right product, price, promotion, placement and space allocation for optimal results across all touch points in the omnichannel shopping episode – online, in-store, social and mobile. Offered on a scalable, high performance SaaS platform, these solutions deliver insights and recommendations at speed, scale and frequency, while providing speed-to-ROI. Over 37,000 global retail locations representing $150+B in annual revenue across grocery, drug, building materials, convenience, general merchandise, discount, sporting goods stores and eCommerce sites optimize with Revionics’ solutions. Revionics has been recognized as a Deloitte Technology Fast 500™, Red Herring Top 100 Global, Red Herring Top 100 Americas and JMP Securities’ Hot 100 Software Company.