Shopper-centric pricing to help Niemann Foods deliver additional shopper and shareholder value
AUSTIN, TX – (September 16, 2014) – Revionics, Inc., a leading global provider of End-to-End Merchandise Optimization solutions, today announced that Niemann Foods, Inc., a chain of grocery, pet food, hardware, pharmacies and gas stations in the Midwest, has selected Revionics as their price optimization provider. Revionics will be providing Niemann Foods with their SaaS-based Price Optimization solution, which includes robust price management, science-based optimization, forecasting, simulation and effectiveness measurement.
“Revionics stood out to us due to their proven SaaS model, strong track record within the retail industry and their partnering approach,” said Chris Niemann, EVP & CFO of Niemann Foods. “We are confident that Revionics is the right price optimization partner to help us deliver both shopper and shareholder value by pricing more competitively while meeting gross profit budgets.”
After a comprehensive industry search for the right price optimization solution provider, Niemann Foods chose Revionics to help them:
- Take a more disciplined approach to pricing by incorporating demand-based science, rules, constraints and strategy to make data-driven pricing decisions
- Stay highly competitive on key value items while meeting gross profit budgets
- Increase sales by scientifically identifying and strategically pricing traffic drivers
“Revionics welcomes Niemann Foods as a valued customer and we look forward to helping them achieve their financial and business goals by adopting a more shopper-centric and fact-based approach to pricing,” said Marc Hafner, Revionics CEO. “Our deep commitment to partnering and our product’s track record for delivering fast and continued ROI continues to differentiate us in the marketplace.”
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 including competitive 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 consistency of 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 proven End-to-End Merchandise Optimization solutions, enabling retailers of all sizes to execute a fact-based omnichannel 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 omnichannel shopping episode – online, in-store, social and mobile. Offered on a scalable, high performance SaaS platform, these solutions deliver insights and recommendations at speed, scale and frequency, while providing speed-to-ROI. Over 37,000 global retail locations representing $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
About Niemann Foods, Inc.
Niemann Foods (NFI) was founded in 1917, is associate owned, and based in Quincy, IL. NFI operates over 100 retail stores including supermarkets, pet supplies, hardware, gas/convenience, pharmacies, and fast food, and provides employment to almost 5,000 people in Illinois, Missouri & Iowa.