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NEWS1 April 2019

Nielsen and JD launch pricing product

Asia Pacific New business News

CHINA – Global measurement and data analytics company Nielsen has signed a strategic cooperation and data sharing agreement with ecommerce business JD.com.

They will launch a big data product β€“ Online Pricing Optimizer (OPO) – to help brands evaluate their pricing on the JD platform and optimise their promotion.

OPO can help brands better understand the online consumers, such as what product they compare with before making a shopping decision; the proportion of different promotions in the overall discount and the impact of each discount on shopping decisions. Based on in-depth analysis of pricing and discounts, OPO can suggest long-term and short-term pricing promotions.

Andy Zhao, president of Nielsen China, said: "OPO is designed based on Nielsen’s traditional pricing and analysis product. It also combines individual order data provided by the JD platform."

Nielsen research shows that Chinese consumers have been increasingly sensitive to pricing in recent years. Zhao added: "China’s retail industry is competitive in 2018, when many companies with poor management closed down. Growth models driven by the online clicks and investment have gradually failed.

"Nielsen found the accuracy of e-commerce analysis and predictions made based on store-level data stands at only about 25%. In contrast, the forecast accuracy by Nielsen’s OPO, using data on individual order level, can exceed 75%."

@RESEARCH LIVE

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