AUSTIN, TX – (November 18, 2014) – Revionics, Inc., a leading global provider of End-to-End Merchandise Optimization solutions, announced today that the Vitamin Shoppe® (NYSE:VSI), a multi-channel specialty retailer and contract manufacturer of nutritional products, has signed a multi-year renewal agreement for Revionics® Price Optimization.
Three years ago the Vitamin Shoppe implemented Revionics Price Optimization in an effort to undertake a more strategic, data-driven approach to its pricing strategies and tactics. The solution’s usable science, powerful business intelligence reporting and user-friendly interface has contributed to significant recommendation adoption and, to date, the Company is pleased with the results.
“The Vitamin Shoppe’s renewal highlights how effective our Price Optimization solution is and the strong value and proven results it delivers to omnichannel retailers,” said Marc Hafner, CEO of Revionics. “We look forward to continuing this partnership and further delivering positive results as the Vitamin Shoppe continues to optimize its pricing structure.”
Revionics Price Optimization Drives Shopper-Centric Pricing
Retailers require sophisticated, scalable tools to help them plan, execute and measure their pricing strategies. Shopper-centric pricing compels a retailer to understand how consumers are behaving by store and how they shop by item. 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.
Benefits of this solution 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 the Vitamin Shoppe (NYSE: VSI)
Vitamin Shoppe is a multi-channel specialty retailer and contract manufacturer of nutritional products based in North Bergen, New Jersey. In its stores and on its website, the Company carries one of the most comprehensive retail assortments in the industry, including vitamins, minerals, specialty supplements, herbs, sports nutrition, homeopathic remedies, green living products, and beauty aids. In addition to offering 900 national brand products, the Vitamin Shoppe also exclusively carries products under The Vitamin Shoppe®, BodyTech®, True Athlete®, MyTrition®, plnt™, ProBioCare™, Next Step™, Betancourt and Nutri-Force Sports® brands. The Vitamin Shoppe conducts business through more than 700 company-operated retail stores under The Vitamin Shoppe, Super Supplements and Vitapath retail banners, and primarily through its websites, www.VitaminShoppe.com and www.supersup.com. Follow The Vitamin Shoppe on Facebook at http://www.facebook.com/THEVITAMINSHOPPE and on Twitter at http://twitter.com/VitaminShoppe.