Revionics and Featured Analyst Present New Shopper Research at NRF to Bust Long-Held Myths on Pricing and Promotions
Expert panel will discuss groundbreaking consumer research busting myths around pricing and promotions; Revionics introduces Promotion Performance Analysis
AUSTIN, TX – (Dec. 12, 2017) – Recently ranked once again as a top retail software provider in the 2017 RIS News Software Leaderboard Survey, Revionics, a global SaaS provider of science-based pricing, promotion, space and competitive insight, hosts a Big Ideas session at the National Retail Federation (NRF) conference with a guest speaker from Forrester and Luke Rauch, Senior Director of U.S. Insights for Walgreens. The session – “The Shoppers Speak: Shoppers Bust Long-Held Myths on Pricing and Promotions” – will unveil insight from the newest global shopper study commissioned by Revionics and conducted by Forrester Consulting, on Monday, January 15, 11:30 a.m. – 12:30 p.m. EST at the Jacob K. Javits Convention Center EXPO Hall, Room 2, Level 1.
Revionics will also be exhibiting in booth #3513, where the company’s retail experts will demonstrate why science-based price and promotion optimization is no longer a luxury, but instead a critical part of a retailer’s overall business strategy to:
- help win market share
- stay competitive against Amazon, big box retailers and discounters
- offer shopper-centric pricing and promotions that engage shoppers and deliver business results
Revionics will be featuring its Price, Promotion and Markdown SaaS solutions, including the new Promotion Performance Analysis (PPA) solution, which leverages machine-learning science to measure the true effectiveness of a retailer’s promotions, allowing retailers to eliminate poor performers while continuing to execute high-performing promotions and improve the ones in between.
- George Lawrie, Vice President and Principal Analyst, Forrester Research
- Luke Rauch, Senior Director of U.S. Insights, Walgreens
- Cheryl Sullivan, Chief Marketing and Strategy Officer, Revionics
This session will provide insight for retailers to the following questions:
- How patient are shoppers when it comes to getting the right price – how long are they willing to wait?
- What is the relative importance of price, quality, variety, speed and convenience to shoppers when they are choosing where to shop?
- How do shoppers’ expectations differ across various store formats like discounters, DIY, fashion, and grocery?
- Do shoppers still plan ahead when shopping in different channels, and how do they feel about spot offers?
- Is loyalty dead or has the shopper just set the bar higher?
- When promotions are redeemed and margins take a hit, would shoppers have been just as happy paying full price?
- How do retailers’ behaviors need to change in light of the study results?
Revionics Exhibit | Booth 3513
Revionics will be showcasing its SaaS solutions, which are consumer-focused, strategy aligned and data-driven, including:
- Promotion Performance Analysis (PPA) to help retailers put an end to over-promotion and ineffective, unprofitable offers. It enables them to obtain immediate visibility into which promotions are working and which aren’t and use that insight to promote more effectively.
- Price Optimization that takes advantage of proven machine-learning science, sophisticated rule sets, a SaaS model and leading competitive analytics, used by retailers across the globe to price themselves into customers’ hearts. The solution combines competitive and shopper insights to enable retailers to price at the right time, against the right competitors, on the right items, and in the right channels.
- Promotion Optimization to enable retailers to reach shoppers on their terms while building brand, loyalty and margin. This solution allows retailers to break the cycle of ineffective promotions using prescriptive analytics that focus on consumer buying influences, forecast demand, and deliver the best promotions to meet retailers’ strategic goals.
- Dynamic Pricing to enable retailers to price at the speed and frequency of their business with automated workflows and handoffs within retailer-controlled guardrails with exception management to minimize manual intervention.
- Markdown Optimization to create meaningful markdowns that maximize return on inventory, margins and sell-through while delivering the discounts that customers want, where they want them, and when they want them. It enables retailers to respond to changing conditions and trends while providing the optimal discount and cadence.
Attend @Revionics #NRF18 session featuring @Forrester & find out what myths are busted around price & promotions in #retail as they unveil new global consumer research at their session: https://goo.gl/m7boCv
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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.
Predictive. Prescriptive. Profitable Retailing. Expect Nothing Less.