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Big Data, Big Opportunity: European Retailers Embrace Machine Learning-Based Pricing

Tuesday, 28 February 2017 00:00

Author: Anastasia Laska, Vice President of Marketing EMEA at Revionics

It’s been exciting to see first-hand Revionics’ growth in EMEA, as we have continued expansion in Europe for the last few years and now count customers in more than ten countries. Our global presence as we engage with innovative retailers worldwide, deep industry research efforts and ability to attract leading industry experts gives us some powerful insights into what trends and best practices winning retailers can – and should – successfully embrace. We remain committed to sharing those insights with retailers at both industry events and in our own direct engagement.

This year, like the ones just before it, promises to be very turbulent for retailers in virtually every market. Consumers change behaviors and technologies at dizzying speed, and the political and economic landscapes continue to undergo seismic shifts. The amount of data that every consumer and every transaction generates is multiplying exponentially, leaving retailers struggling to make sense of it all.

But with challenge comes opportunity, and contemporary data-driven machine-learning capabilities give retailers the means to more than overcome the obstacles they face – indeed, enables them to thrive, rather than just survive, in turbulent times.

We remain intensively engaged in our markets and you can see good evidence of that as we kick off 2017 with strong presence at two of the most important retail events of the year: EuroShop and Retail Week Live. We’re teaming with customers to give first-hand stories from the front lines of how retailers have seized technology to drive business success. Come check out our presentations!

 

EuroShop EuroCIS Forum | Monday, 6 March | 12:30 PM - 13:00 PM (CET)

Session: Crawl, Walk, Run: a step approach to self-finance your pricing investment
Speaker: Cheryl Sullivan, Chief Marketing & Strategy Officer for Revionics
Overview: Many companies feel the need to embark on a journey towards price optimization, but where does one start?  In this session we will offer you some simple recipes on how to take your first steps towards creating more value for your customers and for your shareholders. We will also share with you insightful examples of how our customers have taken a phased ROI-driven approach to customer-centric, profitable pricing.

 

EuroShop Omnichannel Forum | Wednesday, 8 March | 11:00 AM - 11:30 AM (CET)

Session: The NEW shopper journey: intelligent pricing in an omnichannel world
Speakers: Daniel Lohne Sorteberg, Price Analyst for REMA 1000 and Anastasia Laska, Vice President of Marketing EMEA for Revionics
Overview: How can retailers make sure that pricing supports the strategy of having “one face to the customer,” while at the same time responding to both online and offline competition and balancing margins?  Join us at this session to learn real-world answers to these seemingly impossible questions.

 

Retail Week Live panel discussion: Dynamic pricing, is it a silver bullet for an omnichannel retailer? 14:00 – 14:25 PM (GMT)

  • What is the consumer journey in the new retail reality, and what does it mean for pricing?

  • How can retailers avoid race to the bottom while doing seasonal mark downs?

  • How to price between different channels, ensuring that your retail brand has “one face” to the consumer?

 

Moderator:

Adam Shaw, presenter of the BBC World News series, Horizons

Panelists:

Danny Perekalsky,  CEO, OZON.ru

Cheryl Sullivan, Chief Marketing and Strategy Officer, Revionics

 


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