Strong results and ROI drives expanded use of price optimization
“As a Revionics customer since 2009, I can’t emphasize enough how satisfied we are with the results driven from Revionics’ solutions and how much we appreciate their strong partnering approach,” said
Market Basket initially leveraged Revionics Price Optimization to compete more profitably against several large, dominant competitors. Having successfully executed this strategy over the past years, their current focus is on using optimization to grow market share.
“Our team is proud that Market Basket has experienced such a high ROI from our solutions,” said
Revionics Price Optimization Drives Measurable Value Through Shopper-centric, Fact Based Pricing
Retailers require sophisticated, scalable tools to help them plan, execute and measure their pricing strategies. Shopper-centric pricing compels a retailer to understand how consumers are behaving by store and how they shop by item.
Revionics’ optimization process integrates internal and external data, business rules and operational constraints with price image, strategic and financial objectives, enabling retailers to rapidly adapt their pricing strategies and tactics to constantly changing shopper and competitor behavior. Benefits include:
Revionics® Advanced Analytics complements the software solution by leveraging deep retail domain expertise and science to create actionable insight. Revionics KVI Analysis uses scientific insights into the items that drive price image. The proven methodology utilizes demand models to identify KVIs based on price sensitivity, sales volume, and the role and prevalence of the item in the market basket when coupled with Market Basket Analysis.
Revionics delivers proven End-to-End Merchandise Optimization solutions, enabling retailers of all sizes to execute a fact-based omnichannel merchandising strategy utilizing the most comprehensive set of shopper demand signals to enhance financial performance with improved customer satisfaction. Revionics’ solutions leverage advanced predictive analytics and demand-based science to ensure retailers have the right product, price, promotion, placement and space allocation for optimal results across all touch points in the omnichannel shopping episode – online, in-store, social and mobile. Offered on a scalable, high performance SaaS platform, these solutions deliver insights and recommendations at speed, scale and frequency, while providing speed-to-ROI. Over 37,000 global retail locations representing $150+B in annual revenue across grocery, drug, building materials, convenience, general merchandise, discount, sporting goods stores and eCommerce sites optimize with Revionics’ solutions. Revionics has been recognized as a Deloitte Technology Fast 500™,
About Market Basket
Senior Vice President of Marketing