Leading Nordics Convenience Retailer Extends Beyond Revionics Price Optimization into Fuller Lifecycle Pricing
AUSTIN, TX – (January 7, 2020) – Building on its leadership position in the Nordic convenience market, Reitan Convenience Norway has implemented Revionics Promotion Optimization across its three Norway retail banners: Narvesen, 7-Eleven and YX 7-Eleven. With these new capabilities, Reitan Convenience Norway, a Reitan Group company, is focused on increasing store traffic and unit sales while achieving better collaboration, automation and efficiencies among the teams involved in promotions.
Reitan Convenience Norway is taking advantage of Revionics’ leading-edge science, leveraging insights from cannibalization and affinity analysis as well as Promotion Performance Analysis to better focus promotional offers. With more targeted promotions, Reitan Convenience Norway can better engage customers, enhance store traffic and ensure offers contribute to business objectives, including fully factoring in vendor funding.
“Using Revionics Promotion Optimization will help us ensure that we are getting the most impact from our vendor funding,” said Joachim Paulsen, Head of Pricing for Reitan Convenience Norway. “We also value the strong partnership approach between Reitan Convenience Norway and Revionics, working closely with Revionics product management to enhance its promotion optimization capabilities and align them with our business needs.”
About Reitan Convenience
Reitan Convenience has a strong market position in the convenience market in seven countries, across the Nordics and Baltics. We hold a proud 125-year-long history of convenience retailing. In 2018, we continued to strengthen our position as a high-quality provider in food to go, bakery, and hot and cold beverages through our 2,200 stores in all seven countries we operate in. Reitan Convenience had a turnover of NOK 16.1 billion and cash flow of NOK 783 million in 2018.
About Revionics, Inc.
Revionics is a global SaaS provider of science-based pricing, promotion, space and competitive insight for innovative retailers. Revionics helps retailers around the world gain a competitive edge by managing and optimizing their pricing, promotions, markdowns, and space. Created by retail experts, Revionics’ cloud-based SaaS solutions deliver amazing year-over-year ROI with an attractive total cost of ownership.
Embracing the retail and science in its core DNA, Revionics delivers machine learning solutions that retailers use to translate shopper insights and competitive response into high-impact results. With Revionics, retailers gain leading-edge capabilities, an invested partner and an evolving solution for today’s dynamic retail landscape.
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