Revionics Showcases Price Optimization Solutions at the 2012 Retail Business Technology Expo
Revionics will educate retailers on how they can win in the Age of the Shopper with predictive analytics and demand-based pricing science currently used by over 30,000 retail stores weekly
Revionics, a leading provider of retail life cycle price optimization solutions, will be showcasing several of its new and enhanced solutions at the 2012 Retail Business Technology Expo and Cards & Payment Solutions Conference (Stand 658), held 13-14th March, 2012 at Earls Court, London.
During this conference, retailers will be able to learn how Revionics’ price optimization solutions, which are currently optimizing over 30,000 retail stores weekly and $73Bn in revenue annually, can help them improve margin, sales, and customer loyalty. With a steep competitive landscape, a still fragile economy and a more empowered shopper with access to information through a proliferation of touch points, there is no room for pricing errors. Advanced predictive analytics and optimization science provides a 360 degree view of shoppers – their preferences, buying behavior and characteristics, which enables a retailer to improve their pricing strategies and promote products more effectively.
Tom Sfetkopoulos, Manager of Merchandising and Pricing for Longo’s, a Revionics customer and a retailer with stores throughout Canada including an online grocery business, stated in a recent Supermarket News article: “You can look at a category and how it impacts a department and the entire enterprise…Revionics’ system allows Longo’s to stay competitive on certain items and look at other options to make up the profit you may be giving up…our chain has experienced significant successes in both sales and margins with the system, and achieved an ROI in a shorter time than anticipated.”
On stand no 658, Revionics experts will be on-hand to showcase the following solutions and share retailer case study examples:
• Shopper-centric Base Price Planning and Optimization: Ensure your price image is consistent at the sku/store level. Align base price strategy with financial objectives and category plans by leveraging the power of real time “what-if’ scenario planning, de-weatherized data and the incorporation of competitive data. New Revionics® Workbench tools provide visual predictive analytics to more rapidly identify the biggest opportunities to improve a retailer’s financial performance. Revionics® Workbenches help retailers ‘see the forest from the trees’ through advanced visualization of complex data and the ability to interact with the visualization at different levels.
• Omni-channel Promotion Optimization & Management: Ensure your promotions are effective and have the desired impact. Incorporate shopper insights (Loyalty, Social Media, Online, etc.) to determine optimal product and price to promote by shopper segments that are delivered through any channel including social media, mobile devices and web sites.
• Advanced Markdown Optimization: Maximize inventory margins and sell-thru by optimizing markdown/clearance events at the store/item level based on vendor deals, strategies, and constraints. Real time ‘what-if’ scenario planning capabilities allow retailers to compare and contrast different markdown/clearance strategies and outcomes. Electronic workflow capabilities streamline the approval process.
Visit Revionics on stand no 658 at the Retail Business Technology Expo and Cards & Payments Solutions Conference. For more information about Revionics and its solutions, please visit: www.revionics.com.