Author: Alison Raffalovich, Senior Corporate Communications Director
I was one of the fortunate people in the standing-room-only audience for the NRF panel in January on “How to Break the ‘Death by Discount’ Cycle.” The Group Vice President of Merchandising for Sally Beauty, Linda Voracek, joined Revionics SVP of Product Strategy, Cheryl Sullivan, on a panel moderated by RSR’s Brian Kilcourse to talk about this timely topic.
Author: Will Fuentes, Retail Expert
One of the best tools that I had when I was managing stores was Psyche Walks. Basically, I would put myself in the mindset of a particular customer persona—mom, single dad, credit hungry customer, single twenty-something, etc.—then I would have a “shopping experience” in that mindset. I would start from the parking lot and go all the way through to checkout.
Recently I had the pleasure of joining my Revionics colleagues and our Germany-headquartered partner, Strategix Enterprise in hosting a series of workshops on “Pricing Right” in Germany, Russia and Poland. The turnout and participation were very exciting – in all, 65 retailers joined the event to get actionable education on applying price optimization across the entire product lifecycle to compete more profitably.
The lively sessions integrated lectures with use case-oriented demonstrations of Revionics® Price Optimization, Revionics® Promotion Optimization and Revionics® Markdown Optimization, including what-if scenario planning. In each city, we also presented relevant case studies to give attendees insight into how their retailer colleagues use price optimization to deliver remarkable business results – including enhanced sales, margins and shopper loyalty – under real-world competitive conditions.