Tractor Supply Co. unearths pricing insights
Rural lifestyle retailer Tractor Supply Co. has been strengthening its IT infrastructure to support growth, and now is turning its attention to pricing.
Tractor Supply Co. plans to grow from 1,500 to 2,500 stores, and has been shifting to a Web-scale architecture and new ERP platform. Now the company is extending an existing partnership with merchandise optimization solutions provider Revionics Inc. through 2019.
Using the Revionics price suite, the retailer has implemented diverse price strategies throughout the country. Tractor Supply has also continued its focus on pricing intelligently based on the needs of its customers, and believes strategic pricing results in customer loyalty while meeting key business goals. The chain seeks to drive additional business impact and ROI through more sophisticated use of Revionics’ price and markdown optimization suites.
Having an efficient IT architecture and ERP platform is vital for any retailer seeking to support increased sales and store growth. However, all that supporting infrastructure and analytical capacity by itself will not drive increased revenue if a retailer does not know how to optimally set or alter prices at a localized level. By deepening its use of price and markdown optimization technology, Tractor Supply is helping ensure its infrastructure investments provide a maximum return.
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