TECHNOLOGY

Retailers honored for innovation at industry summit

BY Marianne Wilson

A Brazilian drugstore chain, a Norway convenience store chain and one of North America’s largest marketers of automotive replacement tires were honored with awards at Revionics’ 9th annual global summit, Insight 2018.

The three chains were the  winners of the Revionics Elevate Retail Awards, which celebrates innovative retailers that are changing the face of retail with their advanced use of Revionics’ solutions and have delivered significant ROI and performance improvements through the company’s pricing, promotion and/or markdown optimization.

Here is a look at the winning retailers:
Drogaria Araujo, a Brazilian drugstore chain with more than 200 stores, leverages Revionics Price Optimization, Key Value Item Analysis, Store Zone Clustering and Market Basket Analysis to provide more targeted, relevant pricing for customers while delivering a significant gross margin increase and providing cash flow to fuel store growth.

Reitan Convenience, with nearly 500 locations in Norway and revenue of nearly $4 billion in 2017, utilizes Revionics Price Optimization and Store Zone Clustering to implement more localized and competitive pricing, simplify the number of store zones, reduce operating costs and drive increased market share and profitability across all its banners.

TBC Corp., one of North America’s largest marketers of automotive replacement tires through worldwide operations spanning wholesale, retail, and franchise, deployed Revionics Price Optimization at its company-owned retail locations to deliver more customer-focused pricing to better service consumers and positively impact the bottom line.

Revionics debuted a new feature at Insight this year, Pay It Forward. The project benefits the People’s Resource Center, which works to respond to hunger and poverty in the Chicago area’s DuPage County. The company organized donations of cash and items including deodorant, hand warmers, hats, gloves, face wash, and more from Revionics retail customers, the Swissotel, and employees.  Attendees and Revionics employees assembled the items into bags for distribution, with more than 450 bags donated.

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