Nielsen Global Connect announced the successful rollout of its new Retail Pricing Analytics application tools. More than 60 leading consumer packaged goods (CPG) retailers in the U.S., including Associated Wholesale Grocers, Inc. (AWG), Coborn’s, Smart & Final, ReFuel, Weis Markets and NPC, are powering their strategic pricing decisions through Nielsen’s latest end-to-end pricing and promotion application. Available through the cloud-native Nielsen Connect platform, Nielsen Retail Pricing Analytics leverages artificial intelligence (AI) modules to help retailers quickly enact, adjust and track pricing and promotion strategies.
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Nielsen’s Retail Pricing Analytics brings stability to an unstable pricing landscape impacted by geopolitical and supply chain hurdles—which, amid the COVID-19 pandemic, have driven inflation among nearly 80% of Nielsen U.S. measured product categories. The application integrates Nielsen’s price intelligence data—built on the company’s leading point-of-sale data—with machine learning algorithms to help retailers create, manage and improve pricing and promotion strategies. Accessible through an interactive cloud-based interface, Nielsen’s Retail Pricing Analytics provides retailers with detailed, yet intuitive summaries of the impact of implemented pricing changes (on the overall category, not just a single item), as well as item performance detail—to better understand margin impact. Embedded AI dashboards mine billions of data points to identify logical price changes for ongoing execution.
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Differentiated by its capability—through one portal—to track and segment competitive price tracking by market, define key value items (KVIs) for price adjustment opportunities, implement and manage in-market execution and quantify return on investment (ROI) from everyday price changes and promotions, Nielsen Retail Pricing Analytics guides retailers through every phase of end-to-end pricing.
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