AUSTIN, Texas, May 31, 2016 /PRNewswire/ --The dynamic Adriatic grocery sector is characterized by significant seasonality driven by the fast-growing tourism industry, a changing competitive landscape as Western European giants muscle into the market, and an increasingly sophisticated, always-on shopper base. Seeking to bring sharper focus and deeper insights to its pricing and promotion planning and execution, Agrokor Group, the largest privately owned company in Croatia, rigorously analysed competitive options and selected Revionics, Inc. to drive a more responsive and competitive merchandising strategy across its Konzum and Mercator grocery chains.
The multi-year agreement encompasses Revionics® Promotion Optimization and Revionics® Price Optimization as well as analytical services including Elasticity Workbench, Market Basket Analysis and Promotion Performance Analysis.
One of the leading companies in Southern Europe, Agrokor has more than 100 store brands, some 60,000 employees and a culture committed to quality, sustainable growth and development and corporate social responsibility. The Konzum and Mercator teams had sophisticated in-house analytics, dashboards and reporting, and as they sought alternatives for greater insights into the effectiveness and competitiveness of their price and promotions, they conducted in-depth assessments of five leading optimization software providers.
"In line with our strategy of setting technological trends and of increasing overall business efficiency, Revionics emerged as the clear choice due to their sales engagement driven by collaboration and teamwork, and for the ease of use and transparency of Revionics Price and Promotion Optimization," said Darko Knez, Executive Vice President for the Retail Business Group at Agrokor. "We are looking forward to their advanced analytics services in order to further improve our pricing strategies and increase differentiation against competitors in areas where we really shine, including quality fresh and organic offerings."
With Revionics capabilities, the grocery chains will drive high-impact business value with:
- Detailed analytics of the effectiveness of each promotion so they are fine-tuned for maximum impact and profitability
- Ability to respond with more agility to price update needs in a region with heterogeneous inflation rates
- Insights into price sensitivity within and across all areas of the business
- Streamlining the entire pricing and promotional process to eliminate manual processes and reduce labor costs
- Gaining valuable predictive modeling insights on the impact of seasonal items during the promotional process and what the profitability impact will be
"I am delighted to welcome Konzum and Mercator as exciting new Revionics customers in the dynamic Southern European market," said Marc H. Hafner, Revionics CEO. "We are excited to provide these innovative grocers with industry-leading technology, analytics and science so they can respond to market and competitive pressures at speed and scale while improving top- and bottom-line performance."
Here @Revionics we're seeing exciting growth in new markets! Today we welcome Adriatic grocers Konzum and Mercator to the fold. http://goo.gl/3j6vGx
About Revionics, Inc.
Revionics is a proven leader in End-to-End Merchandise Optimization solutions. Over 62,000 retail locations around the world optimize with Revionics across 18,000,000 products and 2.6 billion item/store combinations are modeled weekly. Revionics empowers retailers around the globe to profitably execute a data-driven omni-channel merchandising strategy by utilizing one of the most comprehensive set of shopper demand signals to increase financial performance and improve customer satisfaction. Revionics' solutions are powered by unmatched demand-based science and advanced predictive analytics to help ensure retailers have the right product, price, promotion, placement and space allocation to drive business performance and seamless shopper experience – online, in-store, social and mobile. Delivered on a scalable, SaaS-based platform, Revionics solutions offer real-time insights and dynamic decisions at speed, scale and frequency, while providing fast ROI. Revionics has been recognized as a Deloitte Technology Fast 500™ and JMP Securities' Hot 100 Software Company. To learn how you can compete more profitably, please visit www.revionics.com.
About The Agrokor Group
The Agrokor Group is the largest privately owned company in Croatia and one of the leading regional companies with almost 60,000 employees and reported consolidated total revenues reaching HRK 49 billion. Since it was established 30 years ago, due to a clear business vision, a consistently applied company-wide strategy and well-planned investment projects, Agrokor has grown from a small family-owned company for the production and sale of flowers into the leading food industry and retail group in the region today.
Contact: Alison Raffalovich
Senior Director, Corporate Communications
Phone: +1 (512) 826-0538 (USA)
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/konzum-and-mercator-tap-revionics-price-and-promotion-optimization-to-sharpen-competitive-focus-scale-for-continuing-growth-300275696.html
SOURCE Revionics, Inc.