Revionics' Message to Retailers at NRF 2019: AI Pricing -- From Theory to Reality
This study confirms that retailers cannot afford to miss shopper signals and retail success requires personalized, AI-driven pricing strategies.
AUSTIN, Texas, Jan. 8, 2019 /PRNewswire/ -- Ranked in 14 categories as a top retail software provider in RIS News Software Leaderboard Survey for 2018, Revionics is primed to help retailers gain more shopper-focused and profitable pricing and promotions with its AI-driven capabilities at NRF 2019. Revionics is hosting two Big Ideas NRF sessions featuring Revionics experts, leading retailers and top analysts with guest presenters from Forrester Research, Constellation Research and Drogaria Araujo.
At the first panel discussion, "Retailer-Shopper Disconnects: How Do We Close the Divide?" Revionics Chief Marketing and Strategy Officer Cheryl Sullivan will discuss insights from Revionics' newest commissioned global shopper study by Forrester Consultingi with guest speakers Forrester Vice President and Principal Analyst Brendan Witcher, Constellation Research Principal Analyst and CEO, Founder R "Ray" Wang, and Apollo Whited, a longtime retail executive with 17 years of experience, including the adoption of AI technology, across merchandising, pricing, and supply chain and technology while serving in executive positions at Family Dollar for more than a decade, most recently as VP Merchandising Services. This study confirms that retailers cannot afford to miss shopper signals and retail success requires personalized, AI-driven pricing strategies. The panel discussion will be held January 14, 2019 from 4:00 - 4:30 p.m. EST in Jacob Javits Center EXPO Hall Level 1, Stage 2.
Revionics' other featured panel discussion, "I, Retail: AI, Machine Learning and Other Massive Price and Promotion Game-Changers," will include Cheryl Sullivan; R "Ray" Wang, and Leonardo Lage, Competitive Intelligence Manager for Drogaria Araujo. This panel discussion will explore how retailers are harnessing AI and ML to enhance and automate pricing and promotions, bringing retail pricing strategies to life at the shelf. This session will be held January 15, 2019, 10:15 a.m. - 11:00 a.m. EST in EXPO Hall Level 1, Stage 4.
Revionics experts will also be on hand in Revionics Booth #3919 to demonstrate their customer-centric, data-driven solutions that help retailers globally gain a competitive edge by optimizing their pricing, promotions and markdowns discussing:
- Pricing: As the top priority of shoppers, retailers' prices must take into account current market, competitive and shopper conditions across all channels. This means providing carefully crafted AI-powered pricing that delivers a win-win: providing shoppers with prices they love on the products they care most about, while ensuring retailers capture overall margins that enable them to sustain a healthy business in the long run.
- Promotion: Promotion analytics and optimization enable retailers to break the cycle of ineffective promotions and the race to the bottom with in-depth insights into consumer buying influences, cannibalization and halo effects, and identifying the most compelling vehicles and offers for different types of shoppers.
- Markdown: With AI-based markdowns designed to maximize return on inventory, margins and sell-through, retailers can deliver the discounts that customers want, where they want them, and when they want them.
- Dynamic Pricing: Revionics enables retailers to leverage machine learning science and competitive and shopper insights to price the right items at the right time, against the right competitors and in the right channels.
- Competitive Insights: Retailers can better serve customers, exploit hidden opportunities, and achieve a higher ROI with real-time competitive insights.
To connect with Revionics at NRF, click here. For more information about the speakers and networking events, click here.
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.
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i Retail Success Requires Personalized, AI-Driven Pricing Strategies, an October 2018 commissioned study conducted by Forrester Consulting on behalf of Revionics.
Contact: Alison Raffalovich
Senior Director, Corporate Communications
Phone: +1 (512) 826-0538 (U.S.)
[email protected]
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