|By Business Wire||
|May 13, 2014 06:00 AM EDT||
Revionics, Inc., the leading provider of End-to-End Merchandise Optimization solutions, announced today that they have entered into a five-year agreement for Revionics® Price Optimization with FarmaCorp S.A., Bolivia’s fastest growing and most recognizable pharmaceutical retail chain with more than 60 locations.
FarmaCorp was searching for a price optimization solution and a partner that would help them analyze customer demand and shopping preferences. After a comprehensive industry search, FarmaCorp chose Revionics’ solution due to its transparent science, ease of use, self learning demand models and proven ROI with other retailers. Putting a price optimization system into practice is expected to improve the company’s sales and profit margins while supporting the company’s rapid growth plans in a highly competitive market.
“Implementing Revionics Price Optimization ensures our customers enjoy the optimal competitive pricing and value,” said Andres Valdivieso, FarmaCorp CIO. “After considering several vendors’ solutions we determined Revionics had the industry’s most superior product that would enable us to maintain our leadership in the market.”
Revionics Price Optimization Enables Shopper-centric, Fact Based Pricing
Retailers require sophisticated, scalable tools to help them plan, execute and measure their pricing strategies. Shopper-centric pricing compels a retailer to understand how consumers are behaving by store and how they shop by item.
Revionics’ optimization process integrates internal and external data, business rules and operational constraints with price image, strategic and financial objectives, enabling retailers to rapidly adapt their pricing strategies and tactics to constantly changing shopper and competitor behavior. Benefits include:
- Image enhancing, profitable prices that achieve strategic and financial objectives
- Ability to forecast and measure the impact of price changes
- Automation of the pricing process to ensure consistency of price image while eliminating manual, error prone tasks
- Surgically execute competitive positioning while maximizing profit opportunities
- Localizing prices based on shopper demand and competitor behavior
“We are looking forward to partnering with FarmaCorp and helping them adopt a more effective and profitable price optimization strategy,” said Marc Hafner, CEO of Revionics. “This new partnership underscores the critical need in the global marketplace for our solutions, which help retailers achieve optimal price image, customer loyalty and profits.”
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 Omni-channel merchandising strategy utilizing the most comprehensive set of shopper demand signals to enhance 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 across all touch points in the Omni-channel shopping episode – online, in-store, social and mobile. 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 37,000 retail locations globally and $150+B in annual revenue across grocery, drug, building materials, convenience, general merchandise, discount, sporting goods stores and eCommerce sites optimize with Revionics’ solutions. Revionics has been recognized as a Deloitte Technology Fast 500™, Red Herring Top 100 Global, Red Herring Top 100 Americas and JMP Securities’ Hot 100 Software Company. For more information, please visit www.revionics.com.
FarmaCorp S.A., is a national pharmaceutical retail chain in Bolivia. It is currently the fastest growing and most recognizable pharmaceutical retail chain with more than 60 locations. FarmaCorp S.A. pioneered the pharmaceutical market entry by giving its customers a perfect level of service for the past 75 years based on a combination of values, work, commitment and dedication. FarmaCorp S.A. is constantly working to expand its mission of service excellence to help make life easier for its customer, by providing modern and innovative pharmacies and services nationwide.
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