1. NIQ partners with EURONICS for Online Price Monitoring insights. 2. NIQ provides accurate data for competitive pricing strategies. 3. Collaboration emphasizes the strategic importance of pricing in retail. 4. EURONICS gains real-time pricing insights from NIQ's advanced tools. 5. The partnership aims to enhance member competitiveness in dynamic markets.
FAQ
Why Bullish?
The collaboration with EURONICS enhances NIQ's market presence and revenue potential, historically similar partnerships have led to increased market valuation.
How important is it?
The partnership provides NIQ with a crucial market position and ongoing revenue opportunities; collaborations in pricing intelligence often lead to sustainable growth.
Why Long Term?
Consistent pricing strategies and insights will likely improve sales over time; past partnerships with similar firms showed gradual income growth.
NIQ (NYSE: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 today's 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.
About NIQ
NIQ is a leading consumer intelligence company, delivering the most complete understanding of consumer buying behavior and revealing new pathways to growth. Our global reach spans over 90 countries covering approximately 85% of the world's population and more than $7.2 trillion in global consumer spend. With a holistic retail read and the most comprehensive consumer insights—delivered with advanced analytics through state-of-the-art platforms—NIQ delivers the Full View™.
For more information, please visit www.niq.com.
About EURONICS:
Always close to the customer: with personal advice and excellent service at more than 1,200 locations and through over 1,000 member companies across Germany. This is what EURONICS Deutschland eG stands for – with its brand promise "Genau richtig."
Thanks to its extensive store network, EURONICS offers not only a wide-ranging portfolio of consumer electronics and home appliances but also premium services – in-store, at customers' homes, and online at www.euronics.de.
Forward-Looking Statements Disclaimer
This press release contains forward-looking statements regarding the collaboration between NIQ and EURONICS. These statements reflect current expectations and projections based on available data, historical patterns, and various assumptions. Words such as "expects," "anticipates," "projects," "believes," "forecasts," and similar expressions are intended to identify such forward-looking statements.
These statements are not guarantees of future outcomes and are subject to inherent uncertainties, including changes in consumer preferences, economic conditions, technological advancements, and competitive dynamics. Actual results may differ materially from those expressed or implied in these statements.
While we strive to base our insights on reliable data and sound methodologies, we undertake no obligation to update any forward-looking statements to reflect future events or circumstances, except to the extent required by applicable law.
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