January 8, 2014
Success of price optimization deployment drives plans to leverage markdown optimization
AUSTIN, TX – (January 8, 2014) – Revionics, Inc., the leading provider of End-to-End Merchandise Optimization solutions, announced today that Tractor Supply Company (NASDAQ: TSCO), the largest farm and ranch supply retail store chain in the U.S., is renewing its Revionics® Price Optimization license for three years and expanding the partnership to include the use of Revionics® Markdown Optimization.
Tractor Supply has used Revionics Price Optimization for regular price management and optimization over the past three years to drive regionalized, shopper-centric everyday value pricing. Deploying Revionics Markdown Optimization will enable Tractor Supply to localize markdowns to profitably adjust in-season and at the end-of-season to customer preferences and inventory levels.
“Use of Revionics’ solution has improved our ability to offer the right price at the right time to our customers while maintaining our profitability and competitive position,” stated Alex Stanton, Senior Vice President of Supply Chain for Tractor Supply. “By leveraging both price and markdown optimization software, we will continue to deliver value to our customers while enhancing our ability to match our price and markdown strategies to customer demand.”
“We are pleased to continue our partnership with Tractor Supply Company,” said Marc Hafner, Revionics President and CEO. “Their decision to renew and expand their license, reaffirms the strong, positive impact that our solutions have had on their business and we look forward to building upon this success with the addition of our markdown optimization solution.”
Revionics Markdown Optimization enables retailers to align inventory clearance with business and financial objectives. Key distinct advantages include:
- Localized markdown events leveraging item/store-level elasticity, seasonality, and demand
- Customized results based on the ability to tune profit versus reducing inventory goals
- On-demand what-if scenario simulation to compare results prior to execution
- Dynamic science remodeling that learns and adapts by continually evaluating new sales and adjusting future recommendations.
About Revionics, Inc.
Revionics delivers the industry’s most powerful End-to-End Merchandise Optimization solution, enabling retailers of all sizes to execute a fact-based Omni-channel 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 Omni-channel shopping episode – online, in-store, social and mobile. Offered on a scalable, high performance Cloud-based SaaS platform, these solutions future-proof retailers from Big Data/Fast Data challenges, while providing speed-to-ROI. Over 37,000 global retail locations and $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 2012 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 Tractor Supply Company
As of September 28, 2013, Tractor Supply Company operated 1,245 stores in 47 states. The Company's stores are focused on supplying the lifestyle needs of recreational farmers and ranchers. The Company also serves the maintenance needs of those who enjoy the rural lifestyle, as well as tradesmen and small businesses. Stores are located in towns outlying major metropolitan markets and in rural communities. The Company offers the following comprehensive selection of merchandise: (1) equine, pet and small animal products, including items necessary for their health, care, growth and containment; (2) hardware, truck, towing and tool products; (3) seasonal products, including lawn and garden items, power equipment, gifts and toys; (4) maintenance products for agricultural and rural use; and (5) work/recreational clothing and footwear.