Revionics Connects with Retailers at ShopTalk 2019 on the Urgency of Adopting AI-powered Pricing and Promotions
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AUSTIN, Texas, Feb. 27, 2019 /PRNewswire/ -- According to global retail experts, retailers are jumping onboard at an astonishing rate, rapidly adopting AI-powered price and promotion solutions in an effort to grow profits and margins, advance their competitive position and increase market share. A recent Digital Radar report from Edge by Ascential (formerly PlanetRetail RNG) notes the critical need for these types of solutions: "The level of urgency means that retailers and brands should be investing in Price and Promotion Management (PPM) capabilities now."i
Amid retailers' urgent need for these types of solutions, Revionics experts will be at ShopTalk 2019 in Las Vegas, March 3-6, 2019 (booth #4010) connecting with retailers, analysts and the media about their game-changing, customer-centric AI pricing and promotion optimization solutions.
Revionics to Discuss Forrester Consulting Commissioned Study Findings
During ShopTalk, Revionics will be highlighting some of the major findings from a series of shopper- and retailer-focused studies commissioned by Revionics and conducted by Forrester Consulting.ii Revionics Chief Marketing and Strategy Officer Cheryl Sullivan will be available to discuss findings from a newly completed study that will be released in April.
Revionics Exhibit Booth #4010
Revionics invites retailers, analysts and the media to stop by booth #4010 to see in action its customer-centric, data-driven solutions that help retailers globally gain a competitive edge with AI-powered:
- Pricing: As the top priority of shoppers, retailers' prices must take into account current market, competitive and shopper conditions across all channels. This means utilizing carefully crafted AI-powered pricing that identifies shopper price sensitivies, competitive price response, and 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 creating a deadly race to the bottom. With in-depth insights into tailoring personalized promotions, consumer buying influences, cannibalization and halo effects, Revionics Promotion Optimization recommends the optimal 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 execute against the an optimal markdown plan that delivers the most optimal discounts and cadence that customers want, where they want them, and when they want them to profitably sell through inventory or discountinue products
- Dynamic Pricing: Revionics enables retailers to leverage "hands off" AI/machine-learning science that dynamically monitors market conditions and maintain optimal prices. Prices are adjusted only when necessary to align with shopper price sensitivies and competitive response, providing the the right price at just the right time, against the right competitors and in the right channels with a frequency that matches their speed of doing business.
- Competitive Insights: On-line retailers can dynamically monitor competitive prices, see historical trends, and adjust prices to better serve customers, exploit hidden opportunities, and achieve a higher ROI. To connect with Revionics at ShopTalk, please 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 Digital Radar: Pricing and Promotion Management, Edge by Ascential, October 2018.
ii Revionics-commissioned studies conducted by Forrester Consulting.
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