Solution drives dynamic online pricing that reflects shifting consumer and competitive behavior for optimal competitiveness, shopper loyalty and profits
AUSTIN, TX – (July 14, 2015) – Revionics, Inc., a leading provider of End-to-End Merchandise Optimization solutions, announced today that it has entered into a multi-year agreement for Revionics® Price Optimization with CPO Commerce, America’s leading online tool retailer that operates more than 40 brand outlet stores including CPO Bosch, CPO DeWalt and CPO Milwaukee. The solution’s management and optimization capabilities will be leveraged to deepen shopper engagement and enhance financial performance.
CPO Commerce operates in a highly competitive, price-transparent environment that requires a solution with self-learning demand models that always reflect ever-shifting shopper and competitor behavior. By adopting Revionics® Price Optimization, CPO Commerce will now be able to systematically tap into their internal and external Big Data, including competitive data, to make more precise pricing decisions across all categories at the speed, scale and frequency needed to compete more profitably. Additionally, the solution also enables them to simulate cost change impact as well as strategy changes and compare financial outcomes before implementing.
“After a comprehensive competitive evaluation, Revionics stood out due to their solution’s ability to respond at the speed, scale and frequency we need in our fast-paced online environment,” said Girisha Chandraraj, SVP, Chief Digital Officer at Essendant and Chief Operating Officer for CPO Commerce. “As a fast-growing online retailer, it’s critical to our success to have data-driven dynamic pricing that matches up with shopper and competitive behavior. This will allow us to drive both shopper and shareholder value.”
“We welcome CPO Commerce as a new online retail customer,” said Marc Hafner, Revionics CEO. “We’re excited to help them harness the power of dynamic online pricing that truly reflects what is happening within their online retail environment. Our solution allows retailers – whether brick-and-mortar, online or omni-channel – to manage and update prices almost immediately. They get the insight they need to know when to match prices, lower prices, or disregard competitive price changes. The results can ignite top line growth and drive dramatic margin improvements.”
Revionics’ Price Optimization solution features sophisticated-yet-usable science, which achieves operational efficiencies with data automation and price management while providing tools for planning, simulation, analysis and measurement. This empowers retailers to be more strategic fact-based pricing decisions. The user-friendly interface makes it easy to be leveraged by merchants – not just analysts or scientists. The solution is designed to:
• Turn insights into pricing actions at the speed and scale necessary to remain competitive
• Align pricing strategies and tactics with category and financial objectives
• Execute competitive positions while maximizing profit opportunities
• Forecast and measure the impact of price changes
About Revionics, Inc.
Revionics is a proven leader in End-to-End Merchandise Optimization solutions. Over 40,000+ retail locations around the world optimize with Revionics across 18M+ products and 2.2B+ sku/store combinations are modeled weekly. Revionics empowers retailers around the globe to profitably execute a data-driven omnichannel merchandising strategy by utilizing one of the most comprehensive set of shopper demand signals to increase financial performance and improve customer satisfaction. Revionics’ solutions are powered by unmatched demand-based science and advanced predictive analytics to help ensure retailers have the right product, price, promotion, placement and space allocation to drive business performance and seamless shopper experience – online, in-store, social and mobile. Delivered on a scalable, SaaS-based platform, Revionics solutions offer real-time insights and dynamic decisions at speed, scale and frequency, while providing fast ROI. Revionics has been recognized as a Deloitte Technology Fast 500TMand JMP Securities’ Hot 100 Software Company. To learn how you can compete more profitably, please visit www.revionics.com.
About CPO Commerce
Established in 2004, CPO Commerce is America’s leading online tool retailer, operating more than 40 brand outlet stores including CPO Bosch, CPO DeWalt and CPO Milwaukee. CPO’s brand outlet stores are known for their full selection of new tools and accessories, as well as the country’s largest selection of factory reconditioned tools. CPO Commerce also operates specialty tool stores such as CPOoutlets.com, ReconditionedTools.com and Tylertool.com.
CPO has shipped over 2 million orders to professional contractors, woodworkers, and handy homeowners who appreciate CPO’s commitment to its customers. BizRate has recognized CPO in its Circle of Excellence, acknowledging that CPO goes above and beyond the norm to provide exceptional service to its customers. For seven years in a row CPO Commerce has been recognized by Inc. Magazine as one of the fastest growing private companies in America.
CPO was acquired in May 2014 by Essendant, a Chicago-based Fortune 500 B2B company.