Solutions infuse competitive intelligence and demand-responsive analytics into the largest beauty retailer’s pricing strategies to drive stronger sales, profits and net margins
AUSTIN, TX – (October 13, 2015) – Revionics, Inc., a leading provider of End-to-End Merchandise Optimization solutions, announced today that it has entered into a multi-year agreement with Sally Beauty Supply LLC, America's largest specialty retailer of beauty products by store count. Sally Beauty will deploy Revionics® Price Optimization, which includes price management, strategic price simulation and optimization. In addition, they will leverage two complementary Advanced Analytics solutions: Store Zone Clustering to make data-driven decisions on the optimal number of store zones and align stores to the zones, and Elasticity Workbench to quickly asses the most profitable pricing opportunities across their business.
Carrying more than 7,000 beauty products across their 3,600+ stores in the United States, Puerto Rico, United Kingdom, Canada, Germany, Mexico, Ireland, Belgium, France, Spain, Chile, Columbia, Peru and the Netherlands, Sally Beauty generates annual revenues of $2.3 billion. Revionics’ price optimization solution will be leveraged across all product categories.
“We conducted in-depth evaluations of various pricing solutions, and Revionics stood out from the crowd. We like their impressive track record with other retailers, depth of industry expertise and their solutions’ ease of use and integration,” said Linda Voracek, Sally Beauty Supply’s Group Vice President of Merchandising. “Partnering with Revionics lets us embrace a proven solution that we expect to help us make better pricing decisions that incorporate detailed product and category data and shopper insights to drive enhanced revenues and margins.”
By adopting Revionics’ data-driven science, Sally Beauty Supply will be able to obtain transparent, optimized pricing recommendations and conduct “what-if” scenario planning and simulations, which it believes will result in more accurate and successful pricing decisions. The solution is also very scalable, so it can grow along with the company’s continuing global expansion – also a critical selection factor for Sally Beauty Supply.
“The retail beauty industry is particularly attuned to a shopper-centric pricing strategy, and we welcome the opportunity to help Sally Beauty Supply strengthen their competitive position and enhance shopper loyalty through the use of our solutions,” said Marc Hafner, Revionics CEO. “We bring to the relationship best-of-breed optimization solutions, a strong industry track record and a fierce commitment to long-term customer success.”
Revionics Price Optimization Enables the Shopper-centric, Responsive Retailer
Performance-driven retailers like Sally Beauty require cutting-edge, scalable and easy to use predictive analytic solutions to understand what shoppers’ value and put that at the forefront of their pricing strategies and tactics to drive more precise decisions at speed, scale and frequency with predicable outcomes. The solution leverages usable science that integrates and balances retailers’ pricing rules, strategies, and operational policies with consumer demand to quickly deliver more effective shopper-centric pricing recommendations that align with category plans and corporate financial objectives. Facilitating confidence and adoption, Revionics’ ease of use and price transparency provides visibility into the “why and how” behind a recommendation, clearly exposing the contribution of each strategy objective and constraints.
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 Sally Beauty
Sally Beauty Supply LLC is the world's largest retailer of beauty supplies offering more than 7,000 quality products for hair, skin and nails. The company's goal is to provide customers with beautiful finds at beautiful price and serves its retail customers and salon professionals at over 3,600 stores in the United States, Puerto Rico, United Kingdom, Canada, Germany, Mexico, Ireland, Belgium, France, Spain, Chile, Columbia, Peru and the Netherlands. For further information, visit sallybeauty.com or call 1-800-ASK-SALLY for the store nearest you.