Revionics’ solution helps eBags.com offer the industry’s most competitive online pricing – resulting in increases in conversions, profitability and customer loyalty
AUSTIN, TX – (June 10, 2014) – Revionics, Inc., the leading global provider of End-to-End Merchandise Optimization solutions, announced today that eBags.com, the leading online retailer of luggage, handbags, backpacks, and accessories has renewed their agreement for Revionics® Price Optimization. eBags has been leveraging Revionics’ optimization solution since 2012 for base price planning, management and optimization.
Retailers continue to increase the volume of price changes according to RSR Research’s 2014 Pricing Benchmark. Dynamic pricing in eCommerce is becoming ‘business as usual’, raising the bar on the need to be responsive to shopper and competitor behavior. Leveraging Revionics’ optimization solution to integrate competitive data with shopper insights, eBags has been able to adopt a more data-driven approach to their everyday value pricing, which ensures pricing competitively while improving sales and margins.
“Revionics’ solution has helped us align our pricing with our corporate goals and strategies,” said Steve Neptune, SVP of Financial Planning & Strategy for eBags. “Prices on the Internet can be dynamic and we rely on Revionics to help us respond to these changes rapidly, while remaining strategic and disciplined in our approach.”
“The eBags renewal underscores the strong success that both our teams have achieved together,” said Marc Hafner, CEO of Revionics. “We look forward to continuing to help them enhance their pricing strategies for optimal profits and price image.”
Revionics Price Optimization Enables 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:
- Image enhancing, profitable prices that achieve strategic and financial objectives
- Ability to forecast and measure the impact of price changes
- Automation of the pricing process to ensure consistent execution of business rules and price image while eliminating manual, error prone tasks
- Surgically execute competitive positioning while maximizing profit opportunities
- Localizing prices based on shopper demand and competitor behavior
About Revionics, Inc.
Revionics delivers the industry’s most powerful End-to-End Merchandise Optimization solution, enabling retailers of all sizes to execute a fact-based Omni-channel 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 Omni-channel shopping episode – online, in-store, social and mobile. Offered on a scalable, high performance Cloud-based SaaS platform, these solutions future-proof retailers from Big Data/Fast Data challenges, while providing speed-to-ROI. Over 37,000 global retail locations and $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™, Red Herring Top 100 Global, Red Herring Top 100 Americas and JMP Securities’ Hot 100 Software Company. For more information, please visit www.revionics.com.
eBags is the world's leading online retailer of luggage, handbags, business cases, backpacks and accessories for all lifestyles. With over 20 million bags sold and 2.9 million unbiased customer reviews, eBags features over 50,000 products from 500 brand names such as Michael Kors, kate spade, Samsonite, Tumi, The North Face, JanSport, Kenneth Cole, Vera Bradley, and Nike. eBags is also a proud supporter of the fight against breast cancer and donates 10% of the retail price of each pink product towards breast cancer research, education, screening and treatment. For more information on eBags, please visit www.eBags.com.