Douglas to Implement Revionics for Customer-Focused Price and Promotion Optimization
Science-Based Technology to Craft Targeted Pricing and Promotions across Douglas' Multi-country Markets
AUSTIN, Texas and DÜSSELDORF, Germany, Aug. 14, 2018 /PRNewswire/ -- Douglas, one of the leading beauty retailers in Europe, has selected Revionics Price Optimization and Promotion Optimization to take its price craftsmanship to the next level. With companies like Sally Beauty, Swanson, and eBags already using the technology, the international pricing tool is leveraging artificial intelligence-based science to provide prices and promotions that ensure enhanced customer engagement.
As one of the key operational elements of #FORWARDBEAUTY, Douglas' new strategy to strengthen and expand its No. 1 market position, the right pricing policy is the basis for its sustainable business success. In recent years, the company had to face a more complex and competitive landscape with both new and existing online and brick-and-mortar competitors, while especially the German market has experienced unprecedented competition. Therefore, Douglas has recently set up a new pricing department to develop a more dynamic pricing approach with a clear focus on customer segments and a leading category strategy.
Tina Müller, CEO of Douglas, notes, "One of our key targets is to position Douglas as THE consumer centric beauty destination. Aiming at this goal, we are heavily investing in state-of-the-art technologies in order to strengthen our competitive power. With Revionics' analytics and optimization capabilities, we can craft pricing and promotional offers that are most relevant for shoppers, while also delivering consistent price strategies across all our markets as we continue both organic and acquisition-based business growth."
"Douglas is a revered beauty retailer with an exciting track record of success," says Revionics Chairman and CEO Marc H. Hafner. "We are excited to help them structure for even greater success in the future in a fast-moving and increasingly competitive international market landscape. Our industry-leading price and promotion science gives Douglas the ability to further enhance their market leadership and drive enhanced customer loyalty."
About Douglas
Douglas is one of the leading retailers in the European beauty industry with about 2,500 perfumeries and fast-growing online shops in 19 European countries. In the financial year 2016/17, the company generated sales of 2.8 billion Euros. Every day, around 20,000 dedicated beauty advisors strive to make their customers more beautiful and thus happier. Douglas has a portfolio of some 35,000 products in the areas of perfumery, decorative cosmetics and skin care. Providing excellent advice and a range of unique services, Douglas is one of the leading companies in the beauty market – both online and in stores.
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.
Media Contacts:
Dr. Julia Sosnizka
International Communications Manager, Douglas
Phone: +49 211 16847-585
Email: [email protected]
Alison Raffalovich
Senior Corporate Communications Director, Revionics
Phone: +1 (512) 826-0538 (U.S.)
Email: [email protected]
SOURCE Revionics, Inc.
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