Revionics Awarded U.S. Patent for Its Life Cycle Price Optimization Software Which Helps Retailers More Effectively Plan, Execute and Measure Their Pricing Strategies
New patent underscores the company’s industry-leading innovation in Life Cycle Price Optimization solutions that improve retailers’ margin, sales and customer loyalty
ROSEVILLE, CA – August 9, 2012 – Revionics, Inc., the retail industry’s leading provider of End-to-End Merchandise Optimization solutions which are optimizing 31,000+ retail locations, today announced that Revionics has been awarded another U.S. patent around its Life Cycle Price Optimization software. On July 31, 2012, the United States Patent and Trademark office granted Revionics patent number 8,234,225, entitled “price optimization system and process for recommending product price changes to a user based on analytic modules calculating price recommendations independently.”
The patent was issued for Revionics’ price optimization software, which enables retailers to take a shopper-centric approach to pricing by understanding how their shoppers behave by store and how they shop by item. Revionics’ solution integrates and balances a retailer’s pricing rules, strategies, and operational policies with optimization science to deliver smarter pricing that aligns with category business plans and performance objectives. Revionics’ sophisticated yet usable science provides full price transparency into the “why” behind recommendations. This accelerates retailer adoption and return on investment. By leveraging these solutions, Revionics customers are on average experiencing:
- 1-3% Sales Gains
- 2-5% Profit Improvements
- 1-3 % Gross Margin Increases
- 8-18X ROI annually
“This recently issued patent underscores Revoinics’ continued investment in predictive analytics and demand-base science innovation to ensure we provide our growing global customer base with the best recommendations and shopper insights available in today’s market,” stated Marc Hafner, Revionics’ President and CEO. “With retailers facing intense competition, rising costs and increasingly informed and price conscience shoppers, our software has become an absolute necessity for the retailers that want to remain competitive and profitable.”
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, shopper-centric merchandising strategy resulting in enhanced 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. 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 31,000 retail locations and $95B in annual revenue across grocery, drug, building materials, convenience, general merchandise, discount, sporting goods store and online sites are optimized with Revionics’ solutions. Revionics has been recognized as a Red Herring’s Top 100 Americas and JMP Securities’ Hot 100 Software Company. For more information, please visit www.revionics.com.