Retailers require sophisticated, scalable tools to help them plan, execute and measure their merchandising strategies. Revionics delivers optimized recommendations to over 20,000 stores every week.
At Revionics, we believe retail pricing and inventory challenges shouldn't require an overly complicated solution to solve them - if it's too complex, retailers simply won't use the software. Our philosophy is to deliver intuitive solutions that provide the sophistication necessary to suit the needs of the Tier 1 retailer, but are accessible to all. Our Software-as-a-Service, pay-as-you-go format means our pricing software is easy to implement, adopt, and embrace for the long-term.
Helping retailers become consumer-centric with lifecycle price optimization
Consumer-centric pricing requires a retailer to understand how consumers are behaving by store, and how they shop by item. We help retailers by recommending the optimal price points across the lifecycle of an item. Our price optimization process includes:
* Evaluation costs, competition, assortment, pricing rules, margins, promotions, deals, & weather
* Calculating how sensitive items are to price changes, leveraging consumer-demand data intelligence from the point of sale
* Applying proprietary math, economics & statistics combined with advanced pricing rules
* Forecasting sales, profit, and margins based on how consumers will react to price changes
* Providing an interactive portal to plan, review, and execute your pricing strategies
Revionics Price Optimization Software allows retailers to:
* Plan the best price and promotion strategies
* Execute ideal Everyday, Promotional, and Markdown pricing
* Measure the effectiveness of pricing at store level
One Forecast = One Version of the Truth
Today's consumer keeps a watchful eye on everyday prices, items on promotion, and items marked for clearance. Their choices are often driven by the perceived value and the relationship of prices to others within the category. Revionics can help retailers by predicting how consumers will shop. Our pricing platform understands the net impact of pricing activity across the store because we operate off a single integrated forecast.
What does this mean? As an example, Revionics can predict how a planned promotion will impact the entire store, or if clearance merchandise may cannibalize a highly anticipated promotional event. We can predict cannibalization and affinities, regardless of price type, and allow retailers to perform holistic scenario planning.
Revionics recommends lifecycle pricing for both a single product over it's life in a store, but we also recommend the right mix of prices a consumer sees whether they walk into your store, review a catalog, or shop online.
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