Shop Direct Enhances Customer Engagement, Revenues with Revionics AI-Based Price Optimization
Comprehensive Organizational and Process Approach Transforms and Streamlines a Retail Innovator
AUSTIN, Texas – (May 7, 2019) – As the U.K.’s largest integrated pureplay digital retailer and financial services provider, Shop Direct is committed to continuous innovation that makes it a preferred online shopper destination while delivering strong business results. Having made a deliberative selection to adopt AI-based price and promotion optimization, Shop Direct’s implementation of Revionics is delivering measurable positive impact on multiple fronts, including customer engagement, unit lift and revenues. Based on strong results in the initial deployment in its Ireland businesses, Shop Direct is now moving confidently through rollout in its U.K. operations.
“The success of this customer-centric pricing initiative is due in no small part to our unique culture at Shop Direct, which embraces a willingness to constructively challenge the traditional ways of doing things, at the same time recognizing the critical value of thorough planning and a comprehensive end-to-end approach” said Shop Direct’s Group Retail Director Sam Perkins, the executive board member who leads the etail giant’s combined retail and product teams. “Rather than adopting retail price optimization technology in isolation, we took a holistic end-to-end approach, from a meticulous consensus-driven selection process, to setting up the right price strategies, processes and organisation structure, to a disciplined implementation rollout, all of which enable us to maximise the impact of these powerful optimisation capabilities. And we teamed with Revionics at every step of the way to benefit from the best practices they’ve seen as they’ve worked with leading retailers worldwide.”
“While Revionics has always taken a long-term partnering approach with our retail customers, Shop Direct is a truly outstanding partner that embodies the powerful business benefits of this sort of strategic collaboration,” said Revionics Chairman and CEO Marc H. Hafner. “Their willingness to challenge their past approaches in favor of new, thoughtful innovations, their deep commitment to having a razor-sharp focus on their customers, and their strategic business transformation mindset make Shop Direct an exemplar of a forward-thinking retailer structured for long-term success.”
About Shop Direct
As the UK’s largest integrated pureplay digital retailer and financial services provider, Shop Direct has annual sales of £1.96 billion. Later this year, we will rebrand to The Very Group as part of plans to bring our name and identity in line with our largest and fastest growing retail brand Very.co.uk.
We exist to make good things easily accessible to more people. With our multi-category range of famous brands, market-leading technology and data capabilities and unique financial services products offering flexible ways to pay, we’re well placed to deliver on that promise.
We sell more than 1,800 famous brands, including big name labels and our own exclusive brands. We have four million customers and deliver 49 million products every year. Our free click-and-collect service, CollectPlus, delivers to 7,000 stores across the country, increasing ease and convenience for customers.
For more information on Shop Direct, visit www.shopdirect.com or follow us on Twitter at @ShopDirect.
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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