AUSTIN, Texas, April 12, 2016 /PRNewswire/ -- In recent years, falling commodity prices have tempered growth in the Peruvian market and shoppers are more price- and budget-conscious, leading savvy retailers like InkaFarma to look at a more systematic approach to optimizing prices.
Revionics, Inc., a leading provider of End-to-End Merchandise Optimization solutions, today announced it has entered into a multi-year agreement with InkaFarma, Peru's mega-pharmacy which is part of the Intercorp Group, to select Revionics, Inc. Responsive Merchandising Solutions. The fast-growing pharmacy giant, which almost doubled its number of locations in 2015, has licensed Revionics® Price Optimization as well as engaged analytical services including Elasticity Workbench, Key Value Item Analysis, Store Zone Cluster Analysis, Item Cluster Analysis and Competitive Response Analysis.
InkaFarma executives sought a business and culture shift to an Everyday Low Price (EDLP) strategy with a disciplined and measurable approach to implementing that evolution. The team assessed two dominant market leaders, including Revionics, and were impressed by Revionics' depth of expertise and its partnering approach. The Revionics team brought highly focused engagement throughout the sales cycle, including CEO-to-CEO discussions to ensure alignment at the most strategic levels.
"Pricing to accommodate budget-conscious shoppers while not just blindly lowering prices across the board is key to successfully executing our EDLP strategy," said Carlos Arce, CEO at InkaFarma. "Revionics' track record of strategic partnership with leading retailers to deliver value and their commitment to helping us implement a successful transformation in our strategy while protecting the bottom line is critical. With Revionics analytics to filter out the noise from the true demand signal, we can focus strategically on competitively pricing those items that truly matter to our customers."
"It's exciting to welcome a regional powerhouse like InkaFarma to our growing roster of Latin American customers," said Revionics CEO Marc H. Hafner. "Our mission is to help InkaFarma achieve unparalleled competitive advantage in the market with our unmatched solutions and services – to help them anticipate and respond at speed and scale to competitive and market pressures while ultimately delivering value for their customers."
Pharmacy chain @Inkafarmaperu taps @Revionics to enhance customer-centric #Pricing while protecting bottom line http://goo.gl/AjNVnc
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.
At InkaFarma, we are more than 11,000 associates collaborating at a national level with the mission to deliver with quality and optimism: health, well-being and savings to all of the communities in Peru. We offer a complete variety of pharmaceutical products and cosmetics of excellent quality and at the best prices 365 days per year. We are the leading chain in the pharmaceutical market thanks to our extensive coverage of stores at the national level and above all, because of our people who, thanks to their obsession with analysis, passion for results, inspiring leadership and love of people combine forces so that together we can change the history of health in every community in which we operate.
Contact: Alison Raffalovich
Senior Director, Corporate Communications
Phone: +1 (512) 826-0538 (USA)
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SOURCE Revionics, Inc.