Right-Sizing Store Space to Maximize Profit
People and real estate are the most valuable, but most costly, assets of retail. If space planner’s productivity and store space are under-utilized, it is costly to the bottom line and detrimental to the top line.
Today’s stores are not like those of yesterday. To adjust to today’s savvy shoppers, retailers must continuously refresh and localize their assortments. Long lead times to plan and execute store plans are a luxury of the past. Traditional space planning tools are manually intensive, and in-store space adjustments are costly. Therefore, retailers must be laser-focused on where, how and when to make those adjustments.
Revionics® Macro Space Optimization uses strategies, individual store performance, extensive item data and predictive science to create optimized store-specific space allocations. This along with store and category opportunity rankings allows retailers to intelligently allocate their labor budgets, lower their inventory costs and achieve the greatest return on space, fast.
Revionics can also help retailers gain deeper competitive intelligence with competitive price insights, data and management.
Why Revionics Macro Space Optimization?
- Revionics leverages top-down and bottom-up optimization, connecting strategies, space, assortment and performance
- Creates store-specific results using each store’s performance – with no forced clustering
- Saves time and resources, eliminating back and forth what-if activity and guesswork
- Enables you to seize new market opportunities by simultaneously optimizing multiple alternative strategies along with your current strategy
- Ranks those stores, departments, categories or aisles that are most in need of change
Key Solution Features
Revionics® Macro Space Optimization enables retailers to continuously optimize any area of their store in a matter of seconds. Optimization can be as broad as the entire store, as narrow as an aisle, or anything in-between; whether that is a set of departments, one department, or a single category and its adjacencies.
The solution removes the labor-intensive job of laying out floor plans and allocates the right amount of space to ensure that your desired product mix is successfully executed within your stores. It makes your existing floor planning system smarter by overlaying science and lifting the manual burden from your space planning team.
Revionics best-in-class capabilities include:
- Quickly optimize assortments across an entire store
- Compare and rank across stores
- Work with current floor planning tool – no need to rip and replace
- Align individual store’s space to demographics and market conditions
- Prioritize labor budget to most impactful projects
Revionics enables performance-driven retailers to create a sustainable competitive advantage and undeniable ROI in today’s new retail reality. Our proven SaaS-based macro space optimization solution offers the speed, intuition, transparency and scale that retailers need to achieve a responsive merchandising model in an era when business strategy intersects with data science.
Revionics® Macro Space Optimization enables you to right-size store space to maximize profit. Drive performance and competitive advantage.
- Maximize return on space
- Unlock each store’s revenue
- Drive higher return on labor
- Convert under-utilized space
Revionics® Macro Space Optimization enables retailers to right-size their store space and unlock each store’s revenue and profit potential.