Revionics’ Life Cycle Price Optimization solutions combined with RivalWatch’s real-time competitive intelligence will help retailers increase profitability and market share
ROSEVILLE, CA – November 29, 2011 – Revionics, Inc., the leading provider in retail life cycle price optimization solutions, today announced a strategic partnership with RivalWatch, the market-leading provider of Internet-based competitive intelligence services. The partnership will blend Revionics’ industry-proven Life Cycle Price Optimization Solutions with RivalWatch’s suite of Competitive Intelligence Services, ensuring their retail customers are equipped with the most powerful and real-time pricing solution available in the market today.
This partnership will provide a highly-effective solution that is critical for multi-channel shopping, which has evolved to what some industry experts refer to as Omni-Channel shopping. This shopping behavior requires a seamless approach to the consumer experience through all available channels – brick-and-mortar, online, mobile devices, etc., and the ability to use any combination of channels throughout their shopping episodes – experiencing brands, not individual channels within brands. Retailers need to be very sensitive to these non-linear shopping episodes as consumers adopt Omni-Channel shopping behavior and online shopping continues to grow at a rapid pace. According to Goldman Sachs, annual worldwide e-commerce sales are projected to reach $963 billion by 2013. In addition, Forrester Research estimates that online retail sales in the US and Europe will grow to $279 billion by 2015 representing 11% of all retail sales.
“Retailers must be able to predict and react to market indicators and competitive pricing behavior in the hyper-sensitive, fast-moving retail market,” stated Marty Hodgett, President and CEO of RivalWatch. “This partnership helps retailers price more competitively while identifying opportunities to maximize margins across channels and categories.”
According to Retail System Research’s (RSR) 2011 Benchmark Report “Optimizing Price in a Transparent World”, retailers are very aware of – and need to respond to – the impact consumer price transparency is having on their retail businesses. According to the report, retailers are looking for price optimization and management solutions that will help them drive top line sales, improve promotion profitability and enhance their price image in this world of price transparency.
“With consumers increasingly becoming more omni-channel in how they research and purchase products, retailers require pricing insights that accurately predict and quickly adapt to consumer buying behavior and motivators,” stated Marc Hafner, Revionics’ President and CEO. “The Revionics and RivalWatch integrated solution will provide retailers with the pricing insights and strategies necessary to stay a step ahead of their competitors.”
About Revionics, Inc.
Revionics delivers innovative life cycle price optimization solutions to retailers, including base, promotion, and markdown pricing. The Revionics solution leverages an integrated forecast, enabling a coherent view of customer demand across all decision areas. Our proprietary approach applies advanced analytics and science to predict customer behavior, empowering retailers to achieve their financial objectives, improve customer loyalty, and make better, faster decisions. Our solutions are delivered on a modern, fully scalable, software-as-a-service platform. Over 20,000 retail locations across grocery, drug, building materials, convenience, general merchandise, discount and sporting goods stores are priced using Revionics solutions. For more information, please visit www.revionics.com
RivalWatch, Inc is a market-leading provider of Internet-based competitive intelligence services for Fortune 1000 retailers and manufacturers. RivalWatch’s technology provides near real-time access to competitors’ on-line price and assortment information, enabling timely, cost-effective, fact-based pricing and other merchandising decisions to increase sales, profitability and market share in today’s competitive markets. RivalWatch’s propriety, scalable technology platform enables actionable data to be delivered through web-based reports directly to the client’s desktop using a cloud-based architecture or integrated directly into enterprise analytics applications. For more information, please visit www.rivalwatch.com.