Supermarket chain Delhaize America has entered a multi-year agreement with Revionics to implement its Life Cycle Price Optimization solutions. The agreement also includes Revionics Advanced Analytics services, which features Key Value Item (KVI) Analysis, Item Clustering and Market Basket Analysis.
The implementation is expected to help Delhaize America leverage more data-driven and shopper-centric pricing, promotion and markdown strategies, as well as tactics to enhance price image, foster stronger customer loyalty and respond quickly to dynamic market conditions.
“We are proud that Delhaize America selected us to help them compete more profitably while enhancing customer loyalty in their highly-competitive market,” said Marc Hafner, CEO of Revionics. “This new partnership underscores the strong global market need for our proven life cycle price management and optimization solutions, which on average, provides a tenfold return on investment every year.”
Solutions in the suite include Revionics Price Optimization, Revionics Promotion Optimization and Revionics Markdown Optimization. Benefits for retailers include the ability to:
- Offer prices that align with strategic and financial objectives;
- Create more targeted promotions that will incentivize shoppers to purchase more and more frequently; and
- Implement end-of-life and end-of-season markdowns as a means to clear inventory.