Sessions will debunk retail pricing and promotion myths and spotlight machine learning-driven capabilities
AUSTIN, TX – (Feb. 13, 2018) – With retailers globally facing digital disruption, aggressive cross-border competition and the growing omni-channel world which has amped up the competitive landscape, retailers’ very ability to survive depends on effectively analyzing data to truly know their shoppers and to offer highly targeted prices and offers that attract customer loyalty while enabling sustainable business models. At EuroCIS 2018 Revionics experts will provide valuable, actionable insight on artificial intelligence/machine-learning price optimization. They will explode long-standing retail myths and present shoppers’ true views of their pricing perceptions, preferences and tolerances from a recently completed Revionics-commissioned global shopper survey conducted by Forrester Consultingi.
At EuroCIS, which is 27 February – 01 March 2018 in Dusseldorf, Germany, Revionics retail experts will be at Stand C36/Hall 9 to demonstrate why science-based price and promotion optimization is no longer a luxury, but instead a critical part of a retailer’s overall business strategy to continue growth, gain market share and compete for optimal business results.
Revionics will spotlight its Price, Promotion and Markdown optimization solutions, including the new Promotion Performance Analysis (PPA) that leverages machine-learning science to measure the true effectiveness of a retailer’s promotions. This allows retailers to eliminate poor performers while continuing to execute high-performing promotions and improve the ones in between. In addition, Metro Systems GmbH Domain Owner Pricing Oliver Dusso, a Revionics customer, will be available at the Revionics stand 36/Hall 9 from 14:00-15:00 p.m. CET on February 27 for a question-and-answer session on the topic of “The Role of Price Optimization in Metro’s Strategy.”
Revionics’ EuroCIS Presentations:
AI/Machine-Learning Pricing: Why Retailers Are Saying It’s No Longer Optional
Date/Location: 28 February 2018 from 16:00 to 16:30 p.m. CET | EuroCIS Forum
Speaker: Anastasia Laska, VP of Marketing EMEA, Revionics, Inc. and Ales Drabek, Chief Digital and Disruption Officer, Conrad Electronic SE
Gone are the days of long lead times, limited data sources and success through spreadsheets. To remain relevant in today’s turbulent landscape, retailers must adopt science-based pricing. This discussion will show why AI/machine learning science-based pricing is no longer a luxury for retailers but instead is an imperative. Retailers will gain key insights into how to price more strategically, see past the myths around dynamic pricing and respond faster to shifts in competitive response, shopper behavior and market dynamics to unlock the secrets for a win/win for both you and the shopper. Conrad Electronic will testify to their experience and path to success in the challenging landscape of the consumer electronics market.
Retail Pricing Myths Debunked by Shoppers
Date/Location: 28 February 2018 from 16:30 – 17:00 p.m. CET | Omnichannel Forum
Speaker: Cheryl Sullivan, Chief Marketing and Strategy Officer, Revionics, Inc.
Recent Revionics-commissioned global shopper studies by Forrester Consulting reveal insight into shoppers’ views around different pricing and promotions practices, including their views on retailers’ use of data science to determine prices, dynamic pricing and price matching practices. The research also sheds light on shoppers’ tolerances for price increases during competitive stock outs, what drives their loyalty, key factors they look for when selecting where to shop, how they view and respond to spot offers, and much more. This session reveals shocking findings from both studies at a global and by-country level, providing key insights that can be leveraged to hone pricing strategies, more effectively engage your shoppers, and successfully compete in today’s shopper-centric world.
@Revionics excited to present & connect w/ #retailers at @EuroCIS about #RetailPricing – sessions will do a deep dive into AI/machine learning pricing & debunking retail pricing myths highlighting results from a @forrester shopper study: https://goo.gl/qQZgui
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About Revionics, Inc.
Revionics is a global SaaS provider of science-based pricing, promotion, space and competitive insight for innovative retailers.
Revionics helps retailers around the world gain a competitive edge by managing and optimizing their pricing, promotions, markdowns, and space. Created by retail experts, Revionics’ cloud-based SaaS solutions deliver amazing year-over-year ROI with an attractive total cost of ownership.
Embracing the retail and science in its core DNA, Revionics delivers machine learning solutions that retailers use to translate shopper insights and competitive response into high-impact results. With Revionics, retailers gain leading-edge capabilities, an invested partner and an evolving solution for today’s dynamic retail landscape.
Predictive. Prescriptive. Profitable Retailing. Expect Nothing Less.
i “Demystifying Price and Promotion,” a commissioned study conducted by Forrester Consulting on behalf of Revionics, September 2017.
ii “Understanding Retail Customers’ Pricing Expectations and Tolerances,” May 2017 and “Demystifying Price and Promotion,” November 2017, commissioned studies conducted by Forrester Consulting on behalf of Revionics.