Veylinx’s CCO, Rainier Van Rietschoten:
After months of planning we’re delighted to open our New York office. Since the beginning of Veylinx we’ve been very internationally focused. Today 95% of our business is with multinational companies and we’ve conducted research in over 30 countries. Opening our first US office allows us to efficiently service our US clients and puts us in good shape as we continue to grow and deepen our relationships with global companies.
Veylinx is a market research company that uses real auctions to measure consumers’ behavior. The auction methodology is based on the Nobel Prize winning research by William Vickrey and are known as Vickrey auctions. The company uses insights collected from auctions and questionnaires to help Fortune 500 companies with their innovation development and testing. To achieve this, companies are provided with insights into concept potential, price optimization, volume metric forecasting, and target groups.
“Ultimately we want to help clients launch more successful innovations” says Karen Bies, Global VP.
85% of new products fail, which tells us that traditional market research methods that measure verbal intention have difficulty predicting consumer behavior. Our state-of-the-art platform allows clients to efficiently test new products and innovations, from idea stage to launch. The demand today is for accurate, fast and cost-efficient insights, which we are perfectly positioned to deliver on a global scale.
The New York office is based out of Brooklyn, with the company already having hired Nihad Zahri as its US Business Development Director. Since 2015, Veylinx has won numerous awards including the Insight Innovation Competition and MOAward.
Source: Press release, Veylinx, 4 July 2019