March 28 2019 In China, Nielsen and eCommerce giant JD have signed a data-sharing agreement, and launched a big data product called Online Pricing Optimizer (OPO), to help brands evaluate their pricing on the JD platform.
Nielsen’s analytical consulting department and JD’s business development and cloud platform units co-developed OPO, which taps into the order and browsing data generated by more than 300 million active online consumers on the JD site, as well as Nielsen’s monitoring data on omni-channel retail.
The tool has been developed to help FMCG eCommerce brands understand online consumers and drive sales, answering questions such as which products consumers compare with before making a decision; the proportion of different promotions in the overall discount; and the impact of each discount on shopping decisions. Based on analysis of pricing and discounts, the firms say OPO can give ‘reasonable suggestions’ for long-term and short-term pricing promotions.
Andy Zhao, President of Nielsen China, comments: ‘OPO is based on Nielsen’s traditional pricing and analysis product. It also combines individual order data provided by JD platform. By creating OPO, Nielsen has pioneered the use of consumer order data to provide pricing and promotion analysis for brand owners’.
Article source: Mrweb