The beauty retailer will use the AI-powered solution to identify competitive price levels while still maximizing revenue and profit performance. The solution also will help Sally Beauty create more effective promotions through enhanced targeting and develop profitable markdown plans.
“With Revionics, we saw the opportunity to leverage artificial intelligence and advanced analytics to better inform pricing and promotional decisions that support the attainment of our strategic goals,” said Pamela Kohn, SVP and Chief Merchandising Officer at Sally Beauty Holdings in a statement.
The partnership comes as Americans look to freshen up their appearance for the post-pandemic future. In a survey conducted by Vagaro, 46% of respondents said they’d “let themselves go” during the pandemic, but 64% said they want to look their best when the pandemic ends and 62% said they think that will happen before 2022. Among the activities Americans plan to engage in during what Vagaro refers to as a “Quarantine Glow-Up” are enhanced skin and haircare routines — Sally Beauty’s sweet spot.