Holiday Stationstores Renews Agreement With Revionics
Proven, science-based solution develops pricing that is reflective of overall strategy and provides optimal results
ROSEVILLE, Calif.--(retail life cycle price optimization solutions, announced today that Holiday Stationstores, a leader in the convenience store industry with over 450 corporately owned and franchise stores, has renewed its service agreement with Revionics due to the benefits it has obtained by leveraging Revionics’ Life Cycle Price Optimization solutions. The renewal agreement includes Revionics® Price Optimization, Revionics® Promotion Optimization, and Revionics® Markdown Optimization for full price life cycle planning and management.)--Revionics, Inc., the leading provider of
“Holiday has been leveraging Revionics to determine optimal prices and as a result they have seen an impact in gross margins. They have established a successful fact-based methodology and we are very excited to continue working with them to help grow their overall business”
Holiday implemented Revionics Price Optimization solutions in October of 2010 to achieve the following business objectives:
- Gain a deeper understanding of Key Value Item (KVI) pricing along with leveraging margin enhancements of less sensitive items
- Improve zone structure to take better advantage of competitive positioning
- Make more fact and science-based pricing decisions and better align pricing with category strategy
- Compare and analyze outcomes of different pricing strategies and allow for ‘what-if’ scenarios
To date, Holiday is very pleased with Revionics’ base price planning and optimization capabilities, which is improving their competitive position and is on track to achieve the gross profit margins predicted by using the solution. In addition, they are looking forward to increasing the utilization of the Revionics Promotion Optimization and Scenario Planning solutions. They are also looking forward to the enhanced Tiered Pricing capability, which will help Holiday make decisions regarding how to most effectively price items with tiered prices. This will ensure that the best tiered pricing is recommended for optimal sales and profit.
“With a steep competitive landscape and a still fragile economy, there is no room for pricing errors; therefore, we needed to adopt a proven, science-based solution that allows us to develop pricing that is reflective of our strategy and provides optimal results,” stated Dean Solyntjes, Director of Pricing and Business Support for Holiday Stationstores. “We are extremely pleased with the ROI and increased gross margin we have obtained from Revionics’ system and we are looking forward to fully leveraging all the capabilities their pricing solutions have to offer.”
“Holiday has been leveraging Revionics to determine optimal prices and as a result they have seen an impact in gross margins. They have established a successful fact-based methodology and we are very excited to continue working with them to help grow their overall business,” said Marc Hafner, Revionics President and CEO.
About Revionics, Inc.
Revionics delivers innovative life cycle price optimization solutions to retailers, including base, promotion, and markdown pricing. The Revionics solution leverages an integrated forecast, enabling a coherent view of customer demand across all decision areas. Our proprietary approach 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 Holiday Stationstores
Holiday, a Minnesota based, family-owned company, offers 450 locations throughout 10 states in the northern tier of the United States, including Minnesota, Wisconsin, Michigan, North Dakota, South Dakota, Montana, Wyoming, Idaho and Washington, as well as in Alaska. For more than 80 years, the company has been committed to providing high-quality fuel with great value, extensive product selection and a friendly, helpful staff. Holiday's Blue Planet® gasoline, with Smart Power engine cleaning additives, meets or exceeds leading automobile manufacturers' TOP TIER Standards in all grades of gasoline. The Holiday Pantry brand of proprietary sandwiches, salads and other food products distinguish this C-store/gas station chain. Holiday is the market leader in the Twin Cities of Minneapolis and St. Paul, as well as many other markets in which it conducts business.
Posted: January 9, 2012