NIQ, a leading consumer intelligence company combined with GfK in 2023, has been selected by EURONICS, a leading global shopping cooperative in the Technical Consumer Goods (TCG) sector, to provide comprehensive Online Price Monitoring.
NIQ’s Online Price Monitoring provides insights into pricing dynamics by tracking item-level pricing across a defined data set. The system captures product information, matches items accurately, and ensures quality through advanced automated processes combined with human oversight and detailed checks. NIQ offers a range of retail pricing solutions, including pricing intelligence tools and the Consumer Price Lab, empowering businesses to make informed decisions and optimize their pricing strategies.
This collaboration focuses on providing EURONICS with comprehensive pricing insights to support informed decision-making. NIQ delivers accurate and transparent data to help EURONICS understand market dynamics and plan effectively.
“Through our collaboration with NIQ we receive high quality data driven insights from retail and the end consumer market. The tool provides us with early indications of market shifts, enabling us to inform our members quickly and allowing them to tailor their online offering precisely to the needs of their customers,” explains Thorsten Hennig, Head of Digital Customer Journey at EURONICS Deutschland eG.
By leveraging NIQ advanced Online Price Monitoring capabilities, EURONICS gains real-time insights into market and price trends across the digital shelf. This information empowers its cooperative members to make informed decisions and strengthen their competitiveness in a dynamic environment.
“We’re thrilled to expand our collaboration with EURONICS during this critical seasonal period, when pricing strategies are more essential than ever for business success,” said Oliver Schmitz, Head of Retail DACH NIQ. “Pricing intelligence is now central to retail success, and our collaboration ensures EURONICS has the insights needed to lead their cooperating members with confidence, agility, and precision towards business growth.”
Turning Retail Pricing as a Strategic Differentiator
In fast-paced retail environment, pricing is no longer just a tactical lever, it’s a strategic differentiator. NIQ’s solution combines automated data capture with human-led quality assurance to deliver accurate and transparent solutions.
This empowers EURONICS to:
- Analyze the competition precisely
- Respond swiftly to market shifts
- Execute pricing strategies with full visibility of the market
This collaboration highlights the growing importance of pricing intelligence in retail, reaffirming NIQ’s commitment to delivering actionable data and insights that drive business impact.
