| NEW YORK, Jan 14, 2002 (BUSINESS WIRE) -- Net Perceptions, a leader in
Intelligent Demand Generation(TM) solutions that measurably improves
merchandising, marketing and advertising effectiveness, today announced that
Meijer Stores, a leading Michigan-based superstore chain, has selected Net
Perceptions Retail Revelations(TM) Advertising Advisor 2.0 solution to help the
company enhance the efficiency and performance of its print circular advertising
program.
Meijer, with 152 stores and more than 350,000 general merchandise SKUs, is
challenged with constantly improving its ability to select the most appropriate
items to promote and, in turn, accurately predicting the rate of sale of those
items. Net Perceptions Advertising Advisor 2.0 solution is specifically designed
to address these retail challenges.
"Net Perceptions was selected based on our unique ability to combine robust
historical analysis with leading-edge forecasting," said Don Peterson, Net
Perceptions president and CEO. "We're proud and excited to add Meijer to our
growing list of prestigious customers. They are an innovator in their field, and
we're looking forward to the role we can play in helping them achieve their
business goals."
During the selection process, Meijer conducted a rigorous review and testing of
the various contenders for the account and ultimately preferred Net Perceptions'
ability to conduct minute store/item level analysis, coupled with its highly
interactive `real-world' buyer forecasting interface. Net Perceptions'
experience in the retail space, the maturity of its product and an established
install base, with customers such as Kmart, JC Penney and Lowe's, also helped
establish Net Perceptions as the right choice for Meijer.
According to AMR Sr. Analyst, Greg Girard in a recent industry report:
"...Retailers are giving priority to quick-payback projects that ... manage
marketing instruments--price, promotion, and local assortments--to generate
demand, reduce supply chain, inventory, markdown, communication charges, and
store operating costs, increase margins through cost reduction and by using
marketing instruments to shift demand to higher net margin products and retain
high-value customers, and increase their shopping frequency and spend per visit.
"In 2002, General Merchandise and Apparel retailers will get their highest
payback from a set of enterprise initiatives that include demand creation
management that utilize promotional assortment and pricing optimization tools,
consumer segmentation and targeting tools, store-level promotional forecasting
tools and pre-production print media versioning and content management tools,"
adds Girard.
About Net Perceptions(R) Advertising Advisor
Net Perceptions Advertising Advisor analyzes detailed information about all
transactions across a retailer's operation to assess the overall impact of
newspaper circular advertising on total product sales, market basket size,
margin mix and store traffic. Advertising Advisor's advanced technology enables
merchants to spend less time on analytical activities while substantially
increasing the yield on their circular advertising investment. Since its
introduction in April 2000, Net Perceptions Advertising Advisor has enjoyed
deployment among such top-50 U.S. retailers as Eckerd, Kmart and JC Penney in
addition to Meijer.
About Net Perceptions
Net Perceptions (Nasdaq:NETP) provides Intelligent Demand Generation(TM)
solutions that build customer loyalty, grow revenue and increase profitability.
Its Retail Revelations suite of software and services measurably improves
merchandising, marketing and advertising effectiveness by providing actionable
insight into product, promotion and customer interactions. Founded in 1996, Net
Perceptions is headquartered in Minneapolis and has offices throughout the
United States and in Europe. Customers include market leaders such as Brylane,
GUS (Great Universal Stores), JC Penney, Kmart and Tesco. For more information
visit http://www.netperceptions.com or call 800-466-0711.
Net Perceptions and the Net Perceptions logo are registered trademarks of Net
Perceptions, Inc. All other trademarks are the property of their respective
owners. This news release contains forward-looking statements that involve a
number of risks and uncertainties. Among the important factors that could cause
actual results to differ materially from those indicated by such forward-looking
statements are the company's limited operating history, delays in product
development, development of the Internet market, changes in product pricing
policies, competitive pressures, and the risk factors detailed from time to time
in the company's filings with the U.S. Securities and Exchange Commission.
CONTACT: Net Perceptions Inc., Minneapolis
Jacqueline Hanson, 952/842-5063 or 800/466-0711
jhanson@netperceptions.com
|
