SaaS solutions to enable localized, shopper-centric pricing
AUSTIN, TX – (January 6, 2015) – Revionics, Inc., a leading global provider of End-to-End Merchandise Optimization solutions, today announced that Save Mart Supermarkets (Save Mart), a privately held food chain with 221 stores under the banners of Save Mart, S-Mart Foods, Lucky and FoodMaxx, has entered into a multi-year agreement for Revionics’ SaaS-based Price Optimization Solution and its Advanced Analytics services, which include the Key Value Item (KVI) Analysis and Store Cluster Analysis.
After a comprehensive industry search, Save Mart chose Revionics due to the company’s robust science-based pricing solutions, which also include automated price management. Save Mart will be using Revionics Price Optimization to better align their pricing strategies and tactics with local shopper behavior to ensure they have the right KVIs by market and price more strategically, consistently and competitively.
“We welcome Save Mart as a customer and look forward to helping them adopt more localized, consistent and competitive pricing,” said Marc Hafner, Revionics’ CEO. “In today’s hyper-competitive retail environment there is no room for error when it comes to pricing and promotions. Our industry proven science-based solutions help ensure that retailers offer the right price, at the right time to the right shopper.”
Revionics’ Solutions Enables Shopper-centric, Localized Pricing
Revionics’ price 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. Revionics Advanced Analytics services enable retailers to jumpstart their price optimization implementation with deep insight into channel, location, competitor and product price elasticity.
Benefits of these solutions 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 Save Mart Supermarkets
Save Mart Supermarkets, a California corporation, owns and operates 221 stores in Northern California and Northern Nevada under the Save Mart, S-Mart Foods, Lucky, Maxx Value Foods and FoodMaxx banners. Headquartered in Modesto, Calif. since the company was founded in 1952. For more information on the stores of Save Mart Supermarkets, please visit www.SaveMart.com, www.LuckySupermarkets.com, and www.FoodMaxx.com.