Alliance enables small to mid-size retailers to quickly leverage and drive value with proven price optimization solutions
AUSTIN, TX – (June 2, 2015) – Revionics, Inc., a global provider of End-to-End Merchandise Optimization solutions, and Price Revolution, LLC, a leading provider of price management and strategy development services, today announced a strategic alliance.
The alliance brings together Revionics’ best-in-class Life Cycle Price Optimization solutions, which includes base price, promotion and markdown, with Price Revolution, one of the retail industry’s most innovative management service providers. This ground-breaking combined offering will enable small to mid-sized retailers with limited resources to more quickly and easily reap the benefits of price management and optimization technology, which includes improved sales, margins and shopper loyalty.
Life Cycle Price Optimization adoption has increased substantially over the last couple of years due to increased competition and more value-sensitive shoppers with easy, real-time access to pricing information. Leveraging Revionics’ Life Cycle Price Optimization, Price Revolution delivers implementation, strategy and price management services. They develop laser-sharp strategies driving successful key performance indicator outcomes, including enhanced customer demand, sales and margins. The joint offering will help retailers achieve:
- Image-enhancing, profitable prices that achieve strategic and financial objectives
- Targeted, loyalty building, measurable promotions that incent shoppers to buy more and buy more often
- Effective end-of-life and end-of-season markdowns that clear inventory at the highest possible margin
“Revionics is the recognized leader in price optimization with over 40,000 retail locations using their solutions and driving measured value. With our proven track record of successfully implementing Revionics’ pricing solutions, we are able to help retailers with limited resources rapidly adopt and drive performance, including increased sales and margins,” said Mark Kelso, Price Revolution’s Managing Partner.
In a recent Price Benchmark report titled “The Pricing Paradox,” Retail Systems Research Managing Partners Brian Kilcourse and Paula Rosenblum noted that failing to use the proven science behind Price Optimization technologies is a significant inhibitor for retailers. They note that the rapidly evolving science and solutions can be harnessed to enhance not only optimizing base prices but also optimizing promotion and markdown planning.
“Price Revolution’s principals have more than a decade of experience successfully implementing and leveraging our optimization solutions at leading retailers,” said Marc Hafner, Revionics CEO. “Their deep price management expertise and quality of service and support fused with Revionics’ innovative price optimization solutions will deliver superior, cost-efficient results with a rapid ROI for retailers regardless of their size.”
Revionics’ Life Cycle Price Optimization includes three major solutions:
- Revionics® Price Optimization, blending pricing science, business rules and pricing strategy with the power of simulation to recommend optimal zone, channel and segment pricing.
- Revionics® Promotion Optimization, which identifies the best items and offers by segment, channel and promotional vehicle.
- Revionics® Markdown Optimization enables retailers to optimally clear products from inventory, achieving sell-through goals while improving margins.
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 omnichannel 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 Price Revolution
Price Revolution, founded to fill a void in today's price optimization offerings, recognized that all retailers, no matter what size, need access to state-of-the-art technology and expertise in order to drive profitable demand while competing against the big box retailer.
Their subject matter expertise in successfully commanding increases in customer demand, sales, and margin enhancement using Revionics Life Cycle Price Optimization tools makes Price Revolution the only choice in your journey to pricing excellence.
Whether you are a small, midsize, or large retailer and want to access the technology along with price management services and expertise, Price Revolution has a set of services that will take your pricing prowess from uninspired to customer-focused.