Online retail is the new frontier and customer-centric pricing for retailers has taken on a whole new meaning with the growth of ecommerce. According to the Centre for Retail Research, rapid ecommerce growth continues to accelerate with 2015/2014 year-over-year growth in the US at 13.8%, 15.2% in the U.K. and 11.6% in Germany.
This boom also brings with it challenges for retailers. Planning and executing in silos is a thing of the past. The walls that have defined traditional retailing are coming down – and retailers have to truly merge the online and physical channels to deliver a seamless experience for the customer.
In an era when “learning to speak customer” sits at the heart of your retail strategy, you can no longer just cut prices but instead must craft them based on your customers’ needs to win customer loyalty. It’s not about deep discounting but delivering value to drive individualized experience. By doing that, the end result is profiting from every input.
To do this right, it’s mission-critical for retail leaders to invest in harnessing market, competitive and customer intelligence to plan and execute a holistic pricing, promotion and assortment strategy.
Marketyze–A Strategic Acquisition
To help close the gaps and create new opportunities in the market, we have made a bold move – a huge competitive differentiator that will allow us to deliver these powerful capabilities. Revionics has acquired Marketyze, a global leader in advanced competitive pricing intelligence, inventory optimization and merchandising solutions. This strategic acquisition now gives us what none of our key competitors have. That’s our distinct advantage. In return, that’s our customers’ competitive differentiator.
Marketyze’s innovations have been disrupting the market for quite some time – and now the addition of their powerful capabilities means our customers can truly harness real-time intelligence to compete more effectively and competitively and price their way into their customers’ hearts.
Our mission has always been to deliver unmatched solutions and undeniable results for our customers and retailers around the world. Now we are truly enabling them to break down the silos and seamlessly bridge online and physical channels by harnessing real-time market and competitive data to execute the most profitable decisions across all channels.
Marketyze’s unique capabilities include advanced science and proprietary algorithms that deliver the highest matching accuracy in the industry, far beyond competitors’ simplified product matching. Marketyze harnesses the power of a website’s search engine with built-in product indexing, classification engines and synonyms. Their powerful visualization and drill-down capabilities make competitive insights easily consumable by all types and sizes of retailers.
Retail is at the intersection of business strategy and data science. The combined companies empower retailers to adopt a more holistic strategy to execute a more seamless pricing, promotion and assortment strategy that will increase shopper loyalty, yield stronger profits and competitive position. Retailers can benefit from the speed, scalability and economics of our SaaS delivery model.
To learn more, please feel free to visit us here. I welcome your comments and feedback on this exciting milestone.