Fairway Market renews, expands optimization software deal with Revionics
Austin, Texas — Revionics, a global provider of end-to-end merchandise optimization solutions, announced that Fairway Group Holdings Corp., parent company of Fairway Market, will renew its Revionics price optimization license for three years and expand the agreement to include the use of the company’s promotion optimization.
Fairway Market, which has doubled in size over the past three years, chose the price optimization over two years ago due to its strong capabilities and its ability to help them manage and optimize rapid growth across all product categories, including key value items (KVIs).
Fairway Market adopted Revionics solution to better serve customers, improve individual store profitability and more effectively price perishable products. With the deployment of the promotion optimization tool, Fairway Markets will be able to better manage promotion performance, forecast the results of various promotional scenarios and deliver the most compelling offers to their shoppers.
“We joined forces with Revionics to support our goals for properly defined category roles, automated price maintenance and price optimization at the individual store level. So far we have been pleased with our progress and the results in those areas,” said Kevin McDonnell, Fairway Market’s co-president and COO. “We look forward to Revionics’ expanded support of our objectives as we fine tune our promotional strategies.”
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