Solutions to deliver shopper-centric, responsive-pricing to drive gross profit rates, increase sales, and achieve a competitive edge in the market
AUSTIN, TX – (Jan. 20, 2016) – Revionics, Inc., a leading provider of End-to-End Merchandise Optimization solutions, announced today that it has entered into a multi-year agreement with Houchens Food Group, part of Houchens Industries’ widely diverse portfolio of holdings. Houchens Industries is one of the largest employee-owned companies in the United States. As part of the agreement, Houchens Food Group has selected Revionics Price Management, Revionics Price Optimization and Revionics Strategic Price Simulation solutions as well as its Advanced Analytics solutions (KVI Analysis and Elasticity Workbench). Headquartered in Bowling Green, Kentucky, Houchens operates more than 400 convenience and supermarkets, and retail banners include Food Giant, Buehler’s Food Markets, IGA, Price Le$$ Foods, and more.
Houchens Food Group wanted the ability to streamline and manage multiple formats of the business, protect sales and increase operating income using a robust solution to manage rules and optimize across their business.
Houchens Food Group chose Revionics’ proven solutions to effectively manage the entire pricing workflow from end to end, better align high-level business strategies with their pricing efforts and achieve margin goals while at the same time becoming more competitive on price with their competitors. In addition, their pricing will now be more in sync with their shoppers’ preferences and purchasing behavior, further strengthening their price image.
Houchens Food Group investigated a number of price optimization vendors and determined that Revionics provided the most transparent, scalable and easy-to-use price management and optimization solutions plus the economics of a SaaS delivery model. Revionics is enabling Houchens to move away from manual pricing processes to more shopper-centric, targeted and automated pricing. This empowers Houchens’ category and pricing teams to spend more time on higher-level strategic efforts and to better understand and strategically react to shopper behavior and provides them with a stronger competitive advantage and stronger customer loyalty.
“We are delighted to welcome Houchens Food Group as a customer and empower them to execute highly effective strategic pricing to meet shopper satisfaction and business objectives,” said Revionics CEO Marc Hafner. “Revionics’ focus on delivering best-of-breed and innovative science-driven solutions empowers our customers to achieve speed to value and drive intelligent and profitable pricing decisions. We are proud to provide performance-driven retailers like Houchens Industries with the competitive edge necessary to thrive in today’s hyper-competitive retail markets.”
Revionics Strategic Pricing Transforms Performance
Price is and will always be the critical factor influencing the shopping journey. Today’s consumers know the products they want and exactly what they’re willing to pay for them. Since the entire world is the consumer’s assortment, retailers cannot afford to price too high and risk losing sales or too low and risk losing profit. What winning retailers – like Houchens Food Group – are doing differently is setting their pricing strategy to better understand which competitors truly affect demand and which products consumers are price sensitive to, then intelligently execute their strategy across different channels and touch-points.
With strategic rules-based pricing, science-driven optimization, price simulation and dynamic pricing, Revionics solutions offer these benefits:
- Drive strategic and financial objectives and improve revenue and gross margin by 2-6%
- Understand shoppers’ desires and align prices accordingly
- Prioritize decisions within defined rules and constraints
- Respond intelligently to competitor price changes throughout the day
- Predict outcomes through simulation and forecasting
- Gain insights and knowledge from data-driven optimization
- Derive sustainable, year-over-year benefits
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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 omni-channel 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 500™ and JMP Securities’ Hot 100 Software Company. To learn how you can compete more profitably, please visit www.revionics.com.
About Houchens Industries
Houchens Industries began in 1917 with the Houchens Food Group when Ervin G. Houchens opened his first grocery store in a rural area of Kentucky. The potential of the small store was recognized as Houchens took the lead in promoting his stores by utilizing the latest innovations and theories in grocery management, and also by purchasing businesses that correlated to the grocery industry.
Nearly a century later and more than 18,000 employees corporate-wide, Houchens Industries is one of the largest employee-owned companies in the United States. We maintain a widely diverse portfolio of holdings to support company growth and prosperity for our employee owners.