Price Optimization
Base Price Planning, Strategy, Modeling, and Review
Today's retailers face a number of challenges such as rising costs,
hyper-competition, consumer price sensitivity and pressure on margins.
Retailers who leverage the science of demand-driven pricing now have a
clear advantage over their competition.
Revionics®
Price Optimization helps retailers price with confidence, leveraging predictive analytics to:
- Predict customer behavior
- Achieve financial objectives
- Improve customer loyalty, and
- Automate manual pricing processes
The Optimal Price:
Blending
pricing science, business rules, and retailer price strategy
is the fundamental premise of Revionics proprietary optimization
science:
- Pricing Science
Including price elasticity, seasonality, trends, cannibalization, and affinity.
- Business Rules
Incorporation of margin targets, competitive position,
private label relationships, ending numbers, price change limits, and
more.
- Pricing Strategies
Configure to any level of store or product hierarchy,
leverage predefined strategies or customize for more granular execution
of price image.
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Key Solution Features:
With the most
price optimization installations in the retail industry, Revionics base
pricing solution has best-in-class features including:
- What-If simulation
- Forecasting and execution
- On-Demand optimization
- Pre-configured pricing strategies
- Customizable pricing strategies
- Automated price management
- Competitive positioning
- Price image alignment
- Price Family management
- Key Value Item management
- Good-Better-Best automation
- TPR optimization and management
- Actionable reporting and insight
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Benefits:
- Aligns pricing strategies and tactics with category and financial objectives
- Executes competitive positions and desired price image
- Localizes pricing to exploit local shopper behavior
- Automates price management by enforcing business rules and operational constraints
- Measures effectiveness and automatically adapts to changing conditions
Retailers who use Revionics® Price Optimization see a
Return on Investment within 2 Months, 1-4%
profit improvements, and 2-4%
gross margin gains. Read our
Price Optimization case studies to see how we've helped retailers succeed.
Life Cycle Pricing Solutions
Price Optimization | Promotion Optimization | Markdown Optimization