— Periscope and Eversight to bring Promotion “Offer Innovation” capabilities to leading retailers and consumer goods companies
PALO ALTO, Calif. and NEW YORK, Nov. 3, 2014 /PRNewswire/ — Eversight™, the leading provider of cloud-based software designed to improve promotion effectiveness and make better use of trade promotion dollars, and Periscope™, a McKinsey Solution focused on Commercial Performance Optimization including Price-, Promotion-, Assortment-, and Category Optimization, today announced a partnership to bring Promotion "Offer Innovation" to a broad set of retailers and consumer goods manufacturers in the US and internationally.
Through this partnership, Periscope and Eversight will deliver a comprehensive set of software and service solutions which enable companies to innovate in-store promotions by digitally testing unique offers with real shoppers. The result will be tremendous value for clients: by uncovering the most effective offers through real-world-testing of thousands of promotion variations, manufacturers and retailers can work together to roll out more effective promotions in brick-and-mortar stores, leading to substantial top- and bottom- line improvements.
"Periscope has always been about delivering and sustaining insight-driven commercial performance for our clients," said Brian Elliott, CEO of Periscope. "The Eversight solution delivers a step change in insight unique in the marketplace — allowing our clients to find the best promotional offers and adapt with changing consumer behavior through ongoing micro-testing. Combining Eversight’s Offer Innovation with Periscope’s Revenue Management Suite of Solutions, especially with Periscope Promotion Advisor™, will help organizations execute promotions with higher impact. We are excited about partnering with Eversight to take this new insight to the consumer goods companies and retailers we serve around the globe. "
"The test-first approach at the core of Offer Innovation represents a paradigm shift for in-store promotions, moving them from hunch-based art to data-driven science," said David Moran, Eversight Co-founder. "We believe every single promotional offer a company puts forward should be tested before it is rolled out. Periscope’s global reach, complementary suite of solutions, and distinctive expertise in supporting transformational change management programs makes them an ideal partner to deliver these capabilities to more companies, more quickly."
Greg Girard, Program Director, Merchandise Strategies at global market intelligence firm IDC, described the unique value of the partnership. "Retailers and manufacturers struggle on two fronts: innovating promotion offers and predicting how consumers will react to different pricing, promotion and marketing programs," said Girard. "Combining rapid, high-volume micro-testing with capabilities to better implement, scale, and sustain the new test-first approach inside promotional planning processes of retailers and manufacturers can reduce the risk of promotional offer innovation. This means that decision-makers do not need to take their best guesses when developing promotional plans as they’ll have real evidence up-front that they can rely on."
Periscope will be Eversight’s sole Preferred Support Services Partner and Eversight will be Periscope’s sole Preferred PromotionOffer Innovation Partner.
Executives from both Periscope and Eversight will be presenting at the Collaborative Promotion Optimization & Continuous Improvement Summit, hosted by the Promotional Optimization Institute on November 2-4 in Dallas, Texas. For more information and a program, please visit http://poinstitute.com/events/upcoming-event/
Established in 2007 as a wholly owned subsidiary of McKinsey Solutions, Periscope™ enables customers to embed the world’s leading revenue management IP into their everyday way of working to deliver and sustain insight-driven return on sales (ROS) improvements of 2-7%. Periscope continually sources the leading IP from its partnerships and acquisitions; codifies it; and scales the new capability across industries and around the globe. Notably, Periscope builds on McKinsey’s acknowledged thought leadership and experience in both revenue management and deep transformational change management that improves success rates of transformation from 30 to 90%. Periscope embeds these capabilities through a comprehensive suite of insight-driven commercial performance solutions and services that help leading companies on all continents improve pricing, promotion, assortment, and performance management. In addition to partnering with McKinsey, Periscope has acquired two other insight leaders in online intelligence and assortment optimization with more acquisitions and partnerships to come — like this new one with Eversight™. Visit http://periscope.mckinseysolutions.com to learn more.
Headquartered in Palo Alto, Calif. and founded in 2013, Eversight provides Offer Innovation software that helps retailers and consumer goods companies dramatically improve promotion effectiveness and make better use of trade-spend dollars. Eversight disrupts the $300B+ world of trade promotions by combining the latest in predictive analytics, cloud software, data science, and behavioral economics. Eversight Cloud™ enables customers to remove the guesswork and risk from trade promotions by micro-testing thousands of unique offers with real shoppers to find the best performing ones. Eversight serves as a strategic partner to some of the largest CPG brands and retailers, including Unilever and BIC. Promotions based on Offer Innovation have yielded an unprecedented 20-50 percent improvement in volume sales over traditional promotions. Visit www.eversightlabs.com to learn more. Follow Eversight on Twitter at @Eversightlabs and on LinkedIn.
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