AUSTIN, Texas--(BUSINESS WIRE)--Revionics, Inc., a leading global provider of End-to-End Merchandise Optimization solutions, announced today a new release of Revionics® Promotion Optimization, which provides enhanced collaboration capabilities, a highly visual planning module and interactive “what-if” scenario simulation that optimizes both the number and mix of promotional vehicles. The enhanced solution, which leverages new science and modeling, provides forecasting and post-event metrics, enabling real-time alignment with strategies and goals such as driving retail traffic or increasing basket size. The new release also integrates with the Revionics® Social Commerce platform, to deliver optimized promotions via social media. By partnering with Revionics, retailers can substantially improve promotional revenues and margins, reaching their financial objectives while increasing customer loyalty.
“The ease-of-use and complete transparency of Revionics Promotion Optimization allows all of our departments involved in promotions to more easily strategize, plan, forecast and most importantly collaborate,” said Michael D. Ahern, Director of Strategic Pricing, Save-A-Lot. “We are looking forward to taking advantage of the new features, which will help us improve our overall performance, reach our financial goals and enhance our competitiveness.”
Shopper-Centric Promotion Optimization
Retailers are faced with many challenges in building compelling, profitable promotions for today’s price-transparent and hyper-competitive retail environment. These challenges, both external and internal, include: the omnichannel shopper who leverages multiple tools and channels in one shopping episode and expects a targeted and tailored shopping experience; siloed planning that is not coordinated and has been disconnected from strategies, goals and financial objectives; and a failure to employ forecasting and post-event measurement tools.
Revionics addresses these challenges with this new release. Now retailers will be able to better plan, forecast, execute, measure and collaborate on their omnichannel promotions, while ensuring they meet financial goals. The new release includes:
- Dynamic Workflow: Enables collaboration across departments with a single view into promotions through a dynamic workflow that intelligently guides users though the promotion creation and execution process, taking into account the complexity of the promotion and the user’s role.
- Advanced Simulation: Building on existing capabilities, enhanced visualization and uplift simulation features provide interactive “what-if” scenario planning to help streamline and improve the decision process around promotions.
- Improved Planning and Analytics: New science and modeling leveraged in the planning process improves retailers’ ability to more accurately forecast promotional results, ensuring alignment with goals and strategies. Post-promotion analytics enable results measurement, providing the data required to improve promotional performance.
- Integration with Revionics® Social Commerce Platform: Social media is now supported as a new promotion vehicle to deliver optimized promotions to loyal customers through a favorite touch point.
“Retailing changed forever with the advent of omnichannel shopping, price transparency and an explosion of customer choice. Given this rapidly changing and challenging marketplace, we are constantly investing in enhancements that enable retailers to more accurately plan, forecast and measure their promotional campaigns. This results in the most compelling promotional offers with an optimal mix of channel, vehicle, touch point and shopper segment,” said Marc Hafner, Revionics CEO. “With this new release’s advanced planning and analytics technology, coupled with simulation tools that allow retailers to compare the outcomes of different strategies prior to execution, retailers that leverage this solution are poised to achieve the strongest competitiveness, outcomes and customer loyalty possible.”
Promotions Planning and Optimization Taken to a Higher Level
Revionics’ solution optimizes promotions through a combination of data, science, analytics and a retailer’s own strategies. The optimization solution blends these components, factoring in price elasticity, shopper behavior, promotional vehicles and uplift as well as competitor activity to deliver shopper-centric promotions that are both compelling and profitable, maximizing omnichannel campaign effectiveness. Key benefits of the solution:
- Creates optimal offers by channel, touch point, media, market and segment
- Organizes and manages cross-functional objectives
- Automates a dynamic workflow that adjusts to the user as well as the promotion type and complexity
- Leverages elasticity, uplift and basket impacts
- Simulates uplift and forecasts performance
- Measures campaign effectiveness
- Reconciles forecasts and costs to targets
About Revionics, Inc.
Revionics delivers proven End-to-End Merchandise Optimization solutions, enabling retailers of all sizes to execute a fact-based omnichannel 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 omnichannel shopping episode – online, in-store, social and mobile. Offered on a scalable, high performance SaaS platform, these solutions deliver insights and recommendations at speed, scale and frequency, while providing speed-to-ROI. Over 37,000 global retail locations representing $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.