Project Description
Party City Partners with Parker Avery for Comprehensive Price Optimization Solution
Specialty retailer expects meaningful improvements across its business from The Parker Avery Group’s results-as-a-service analytics partnership.
ATLANTA, GEORGIA February 15, 2024—Party City, the leading omnichannel retailer in the celebrations category, is pleased to announce its partnership with The Parker Avery Group, a renowned consulting and analytics firm focused on retail and consumer brands. The collaboration is initially focused on Parker Avery’s approach to rolling out Party City’s price optimization capability founded on the firm’s Enterprise Intelligence analytics platform.
Party City’s decision was based on Parker Avery’s unique and flexible approach, specifically tailored to meet the retailer’s distinctive strategic and operational needs. The firm’s holistic price optimization solution methodology combines world-class analytics with proven retail industry expertise and focuses on the overall health of the business, extending beyond traditional margin considerations.
“We are excited about the partnership with Parker Avery as their approach perfectly aligns with our business strategy,” said Joel Carbaugh, Party City’s Senior Director of Pricing and Business Analytics. “The end solution will play a crucial role in optimizing our pricing and achieving a balanced trade-off to meet category and corporate goals.”
Parker Avery’s deep, retail-focused analytics capabilities were another compelling factor in the partnership decision. The firm’s advanced analytics go beyond mere price recommendations, providing Party City with meaningful insights that will contribute to informed decision-making and improved outcomes across the entire business.
The end solution will play a crucial role in optimizing our pricing and achieving a balanced trade-off to meet category and corporate goals.
– Joel Carbaugh, Party City’s Senior Director of Pricing and Business Analytics
“We are thrilled to be working with Party City and contributing to their success,” said Sam Iosevich, Parker Avery’s Chief Analytics Officer and Managing Partner. “Our team is dedicated to providing a tailored price optimization solution that aligns with Party City’s goals, and we look forward to a long and fruitful partnership.”
About Parker Avery
The Parker Avery Group helps retail and consumer goods companies solve their most important business challenges through the infusion of deep industry experience with strategy development, business process design, change management, advanced analytics, and solution implementation. The company’s roster of clients includes many of the world’s most prominent retail and consumer brands.
To learn more about The Parker Avery Group, please visit https://parkeravery.com.
About Party City
Party City Holdco Inc. (PCHI) is a global leader in the celebrations industry, with its offerings spanning more than 70 countries around the world. PCHI is also the largest vertically integrated designer, manufacturer, distributor, and retailer of party goods in North America.
PCHI operates across multiple businesses within its Retail Division and Consumer Products Division. On the retail side, Party City (partycity.com) is the leading omnichannel retailer in the celebrations category, operating more than 750+ company-owned and franchise stores. The Consumer Products Division includes design and manufacturing entity Amscan, an industry leader in celebration décor, tableware, costumes, and accessories.
PCHI is headquartered in Woodcliff Lake, N.J. with additional locations throughout the Americas and Asia.