McKinsey Named a Leader in the IDC MarketScape: Worldwide Retail Price Optimization Solutions 2023 Vendor Assessment

NEW YORK and LONDON, May 23, 2023 (GLOBE NEWSWIRE) -- McKinsey & Company today announced that Periscope by McKinsey has been recognized as a Leader in the IDC MarketScape: Worldwide Retail Price Optimization Solutions 2023 Vendor Assessment (doc S49458922, March 2023). McKinsey was also named a Leader in the IDC MarketScape in 2021-2022 (doc S48393721, December 2021).

The Periscope by McKinsey platform combines world-leading intellectual property, prescriptive analytics, and a suite of marketing and sales analytics solutions, including pricing and promotion. This unique combination helps companies drive revenue growth and fuels Growth, Marketing & Sales transformational client offerings.

Price is often the first consideration of consumers when making a purchase. For retailers, setting the right price at the right time is crucial to driving growth and profits, yet few are able to make informed decisions using real-time data and market analyses. Only 15 to 20 percent of retailers have some form of dynamic pricing capabilities.

According to the IDC MarketScape report, “Together with McKinsey's professional services, Periscope's customers benefit from a comprehensive pricing solution that includes strategy, analytics, technology, process optimization, and change management, which is highly tailored to the company and its goals while staying on a long-term upgrade road map. McKinsey's solution focuses on the full impact potential with a full pricing life-cycle package.”

The IDC MarketScape report identifies some of McKinsey’s strengths:

  • Sophisticated pricing, expert-focused solution: McKinsey brings together over 750 full-time employees dedicated to pricing science, with a complement of strategic consultative service. Our team’s proficiency in elasticity and the integration of rule-based capabilities create a strong user interface. And our strategic analytics tools mean long-term customer success and margin growth. We know how to push our customers to drive pricing excellence, bringing unique expertise to develop pricing capabilities.
  • Customer responsiveness: McKinsey customers are highly confident that we understand their current and future needs, and are willing to invest in our platform to support future growth opportunities. 
  • Customer satisfaction: McKinsey customers are highly satisfied with Periscope and the sales and customer service processes. They are highly likely to recommend the company to other colleagues in the industry. Customer interviews highlight McKinsey’s ability to customize solutions to fit customer needs.

“Price optimization has become even more important as the economy emerges from the pandemic and inflationary pressure requires considered tactics that meet retailer and consumer needs. Retailers must evaluate and leverage price optimization solutions to reduce costs, maintain profitability, and continue to offer effective price points that consumers will be willing to purchase at,” said Ananda Chakravarty, vice president for Retail Insights at IDC, and author of the report. “Several factors play a part in price, and all of them lead back to driving the retail business. Retail is about selling merchandise, and price is a key driver.”

Zachary John, a partner and Periscope leader at McKinsey & Company
“As revenue growth experts, we focus on helping retailers build a data-driven operating model to make forward-looking decisions. Their ability to harness competitive intelligence and consumer insights to build, refine, and, in real-time, optimize their pricing strategy is of critical importance to protecting margins and driving growth. Our powerful combination of world-class consulting services and Periscope pricing solutions helps our clients drive analytics and insights into the economics of pricing and robust execution.”

Tobias Wachinger, a senior partner at McKinsey & Company
“As retailers and companies feel the pressure from all sides to rein in prices and adapt to inflation, the time is now to refine their pricing strategies. And what the outperformers are realizing is that they can do both – strengthen customer relationships and overall margins. To create long-term value, companies should take a nuanced approach to pricing, promotion, and assortment strategy that is grounded in rich analytics – one that can inform customer’s willingness to pay, the margin performance of a product, and service level expected from the price change. We are humbled by the IDC MarketScape’s recognition, and it’s a testament to the work we do in service of our clients and their customers.”

The 2023 IDC MarketScape for Worldwide Retail Price Optimization Solutions 2023 Vendor Assessment excerpt can be accessed here.

About IDC MarketScape:
The IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.

About Growth, Marketing & Sales, McKinsey & Company 
The mission of the McKinsey Growth, Marketing & Sales practice is to help leaders of both consumer and business-to-business clients create Growth that Matters through meaningful transformations and marketing-driven profit. The practice helps its clients set their strategic direction, develop their marketing and sales capabilities, and connect their organization to realize the full potential of today's omnichannel opportunities. Clients benefit from McKinsey’s experience in core areas of marketing such as branding, customer insights, marketing ROI, digital marketing, CLM pricing, and sales and channel management. 

About Periscope® by McKinsey
Founded in 2007, and now a part of the McKinsey Growth, Marketing & Sales practice, the Periscope® by McKinsey platform combines world-leading intellectual property, prescriptive analytics, and cloud-based tools with expert support and training. It’s a unique combination that drives revenue growth, both now and into the future. The platform offers a suite of Marketing & Sales solutions that accelerate and sustain commercial transformation for businesses. Periscope leverages its world-leading IP (largely from McKinsey but also other partners) and best-in-class technology to enable transparency into big data, create actionable insights and new ways of working that drive lasting performance improvement, and typically sustain a 2–7% increase in return on sales (ROS). With a truly global reach, the portfolio of solutions includes: Insight Solutions, Marketing Solutions, Customer Experience Solutions, Category Solutions, Pricing Solutions, Performance Solutions, and Sales Solutions. These are complemented by ongoing client service and custom capability-building programs.

To learn more about how Periscope’s solutions and experts are helping businesses continually drive better performance, visit www.mckinsey.com/periscope

For further information please contact:
Media Contacts 
US : Digennaro Communications : MaryLiz Ghanem McKinsey-DiGennaro@digennaro-usa.com / 917-518-8422
UK : 3THINKRS : Ruth Jones / Becca Ross mckinsey@3thinkrs.com / 0208 0872843


McKinsey Named a Leader in the IDC MarketScape: Worldwide Retail Price Optimization Solutions 2023 Vendor Assessment

THỦ THUẬT HAY

Những điểm thú vị trong trình quản lý file iOS 11

Tại sự kiện WWDC 2017 vừa qua, Apple đã thông báo rằng hãng sẽ bổ sung thêm một ứng dụng quản lý các tập tin mới trên các thiết bị iOS của mình, ứng dụng này có tên là Files sẽ xuất hiện trong bản iOS 11. Và cũng không

Làm mới giao diện trình duyệt Chrome với Google Canary

Trình duyệt Chrome chuẩn bị có bản nâng cấp mới về mặt giao diện theo hướng hiện đại và trực quan hơn. Dù chưa chính thức ra mắt và hiện chỉ dành riêng cho các nhà phát triển, nhưng ngay ở thời điểm hiện tại bạn đã có

Biến Windows 10 thành macOS X chỉ với 1 cú click chuột đơn giản

macOS X là hệ điều hành độc quyền trên các máy tính của Apple. Nhưng chúng ta có thể biến Windows 10 thành macOS X chỉ với 1 cú click chuột đơn giản.

Hướng dẫn setup màn hình nối tiếp Daisy Chain thông qua cổng Thunderbolt™ 3

Để sử dụng Daisy Chain cho kết nối đa màn hình, bạn chỉ cần sử dụng một đầu ra Thunderbolt ™ 3 của cổng I / O trên máy tính, kết nối với đầu vào Thunderbolt ™ 3 của màn hình đầu tiên và một Thunderbolt ™ 3 đầu tiên màn

Có những kỹ năng công nghệ này trong CV, bạn sẽ nắm chắc “tấm vé” vào vòng phỏng vấn

Kỹ năng công nghệ giờ đây đang được rất nhiều nhà tuyển dụng chú ý khi tìm kiếm nhân tài cho tổ chức. Nếu bạn đang sở hữu ít nhất một trong các kỹ năng được liệt kê trong danh sách này thì hãy tự tin thể hiện chúng

ĐÁNH GIÁ NHANH

Đánh giá camera Lumia 830 khi lên W10M: Nhớ về Nokia

Gần đây, một loạt tin tức về việc tượng đài Nokia sắp quay trở lại thị trường smartphone khiến cộng đồng yêu công nghệ háo hức. Sẵn có Lumia 830...

Trên tay Nokia 8: nhiều cảm xúc và trải nghiệm sử dụng rất tốt

Chỉ mới cầm Nokia 8 được ít lâu, bài đánh giá nhanh của @vyvy1908 cũng mới xuất hiện gần đây, nhưng mình không thể không chia sẻ với anh em những cảm xúc của mình khi sử dụng Nokia 8.

So sánh AirPods 3 và AirPods 2 – Màn lột xác đầy bất ngờ

AirPods 3 là bản nâng cấp của AirPods 2 với nhiều cải tiến và nâng cấp. Bài viết so sánh AirPods 3 và AirPods 2 dưới đây sẽ giúp bạn hiểu sâu hơn về chiếc tai nghe không dây thế hệ mới “nhà Táo”. Bên cạnh đó, các thông