News

Midwest retailer Niemann Foods selects Revionics for price optimization

BY Staff Writer

Austin, Texas — Revionics announced that Niemann Foods, a chain of grocery, pet food, hardware, pharmacies and gas stations in the Midwest, has selected Revionics as its price optimization provider.

Revionics will be providing Niemann Foods with their SaaS-based price optimization solution, which includes robust price management, science-based optimization, forecasting, simulation and effectiveness measurement.

“Revionics stood out to us due to their proven SaaS model, strong track record within the retail industry and their partnering approach,” said Chris Niemann, executive VP & CFO of Niemann Foods, which operates over 100 retail stores including supermarkets, pet supplies, hardware, gas/convenience, pharmacies, and fast food outlets in Illinois, Missouri and Iowa. “We are confident that Revionics is the right price optimization partner to help us deliver both shopper and shareholder value by pricing more competitively while meeting gross profit budgets.”

After a comprehensive industry search for the right price optimization solution provider, Niemann Foods chose Revionics to help the retailer:

• Take a more disciplined approach to pricing by incorporating demand-based science, rules, constraints and strategy to make data-driven pricing decisions;

• Stay highly competitive on key value items while meeting gross profit budgets; and

• Increase sales by scientifically identifying and strategically pricing traffic drivers the marketplace.

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News

Benchmark Brands selects Upstream Commerce

BY Marianne Wilson

New York — Omnichannel retailer Benchmark Brands has chosen intelligence provider, Upstream Commerce, to maximize Benchmark’s price and assortment optimization.

"We chose Upstream Commerce for their experience with large high fashion and apparel retail companies in the US," said Christine Mueller, VP, Benchmark, which specializes in footwear and related products for baby boomers and seniors. "Upstream Commerce fits our goals of providing the best omnichannel shopping experience to our customers while driving profitable growth.

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REAL ESTATE

Redevelopment begins at Stratford Square Mall

BY Marianne Wilson

Northbrook, lll. — StreetMac LLC and an affiliate of Five Mile Capital Partners LLC announced redevelopment plans for the 1.3 million-sq.-ft. Stratford Square Mall, located in Bloomingdale, Illinois. The center’s anchor tenants include Macy’s, Carson Pirie Scott, Sears, Kohl’s, Burlington Coat Factory and the 16- screen Century Theatre movie complex.

Beginning this fall, the mall’s redevelopment will include revamped exterior entrances, two or more new junior anchor tenants, multiple sit-down restaurants, outdoor cafes and streetscape retail, and new property signage and upgraded finishes.

“Our goal is to return Stratford Square back to its regional prominence when it was built more than 30 years ago,” said StreetMac’s Maury Fisher, the former president of JMB Urban, which developed the property in 1981.

To support the mall’s revitalized entertainment options, Round One will open a newly built 40,000-sq.-ft. entertainment complex in October featuring bowling, billiards, gaming and karaoke.

In addition, Red Robin will remodel its Gourmet Burgers and Brews restaurant concept at Stratford Square later this fall which features interior and outdoor seating, a key component of the mall’s new entrances.

The redevelopment effort will also include revising the mall’s outdoor areas with fire pits, additional seating and new landscaping.

Bloomingdale Mayor Franco Coladipietro commented: “The Village Board wholeheartedly supports this first major step in the reinvention of our regional mall and looks forward to more improvements in the near future.”

StreetMac’s and Five Mile’s efforts follow investments made by the mall’s previous owners who added such upgrades as the Century Theater.

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