ROSEVILLE, Calif.--(BUSINESS WIRE)--Revionics, Inc., the leading provider of retail life cycle price optimization solutions, today announced that Gander Mountain Company, the nation’s largest retail network of outdoor specialty stores in 23 states, has chosen the Revionics Price Optimization solution which provides both base price management and price optimization. The companies have entered into a two-year agreement. Revionics will help deploy these solutions throughout Gander Mountain’s retail stores ensuring optimal monitoring, management and results.
Gander Mountain wanted to move toward a more scientific and strategic approach to its merchandising and pricing strategies and, by adopting Revionics’ proven solutions, they will now be able to:
- Achieve optimal competitive advantage for each retail location by ensuring its merchandise is at the right price, at the right time, for the right customer.
- Predict and drive consumer demand and behavior, resulting in stronger same store sales, profit margins and customer satisfaction.
- Provide each of its merchants the ability to become more profitable with their pricing, promotion and markdown strategies without taking away time from their core areas of focus or responsibilities.
“What stood out to us the most about Revionics’ Price Optimization solution compared to others in the market, was the ease of usability, good customer interface and the strong track record this solution has gained,” said Kerry Graskewicz, executive vice president, merchandise planning and inventory operations, Gander Mountain. “We had seen how other retailers, such as Holiday StationStores, have improved profit margins by leveraging Revionics pricing solutions to gain an in-depth understanding of price sensitivity, explore ‘what-if’ scenario planning and ensure the right pricing strategies are in place for Key Value Items (KVI) and product categories. Real-world examples like this made our decision to choose Revionics much easier.”
Revionics Empowers Retailers to Optimize with Confidence
Retailers require sophisticated, scalable tools to help them plan, execute and measure their pricing strategies. Customer-centric pricing which incorporates preferences and buying activities compels a retailer to understand how consumers are behaving by store, by channel, and how they shop by item.
Revionics’ innovative “Optimize with Confidence” approach is based on providing the industry’s most usable science and transparency on a single platform to drive unparalleled confidence in price recommendations, which accelerates adoption and ROI. The Revionics Life Cycle Price Optimization Suite leverages usable science that integrates and balances retailers’ pricing rules, strategies, and operational policies with consumer demand to deliver more effective pricing recommendations that align with category plans and corporate financial objectives. Price transparency provides visibility into the “why and how” behind every recommendation, clearly exposing the contribution of each strategy objective and constraints. With Revionics, retailers can always answer the question “Why did the price change?”. The Revionics Life Cycle Price Optimization suite includes Revionics Price Optimization, Revionics Promotion Optimization, and Revionics Markdown Optimization.
“Retailers like Gander Mountain are seeking more advanced, scalable tools that can establish shopper-centric pricing, as they face escalating costs, customer price sensitivity and razor-thin margins in these uncertain economic times. We can help them gain a higher profit margin by integrating demand-based pricing into their pricing strategy to better plan, execute and measure performance at the store level,” said Marc Hafner, president and CEO, Revionics.
About Revionics, Inc.
Revionics delivers innovative life cycle price optimization solutions to retailers, including base, promotion, and markdown pricing. The Revionics technology leverages an integrated forecast, enabling a coherent view of customer demand across all decision areas. Our proprietary approach, Revenue Bionics™, applies advanced analytics and science to predict customer behavior, empowering retailers to achieve their financial objectives, improve customer loyalty, and make better, faster decisions. Our solutions are delivered on a modern, fully scalable, software-as-a-service platform. Over 20,000 retail locations across grocery, drug, building materials, convenience, general merchandise, discount and sporting goods stores are priced using Revionics solutions. For more information, please visit www.revionics.com.
About Gander Mountain Company
Gander Mountain Company, (www.GanderMtn.com) headquartered in St. Paul, Minn., is the nation’s largest retail network of stores for hunting, fishing, boating, camping, marine and outdoor lifestyle apparel, products and services. Since 1960, the Gander Mountain brand has offered an expanding assortment of competitively priced outdoor equipment, technical apparel and footwear, as well as gunsmith and archery services. The stores feature national, regional and local brands as well as the company’s owned brands. Focused on a ‘We Live Outdoors’ culture, Gander Mountain dedicates itself to creating outdoor memories. There are now 116 conveniently located Gander Mountain outdoor lifestyle stores in 23 states. For the nearest store location, call 800-282-5993 or visit www.GanderMtn.com. Gander Mountain is also the parent company of Overton’s (www.overtons.com) a leading catalog and Internet based retailer of products for boating and other water sports enthusiasts.