FLORHAM PARK, N.J. -- Circle K Stores Inc. has expanded its existing agreement for KSS Inc.'s PriceNet fuel price management system to accommodate 71 additional retail locations acquired in the St. Louis and New England markets. This announcement follows the recent addition of 124 Circle K stores also located in the New England market.
PriceNet is a comprehensive pricing solution that supports the key tasks and stakeholders involved in retail fuels pricing, from capturing field-based intelligence at the site level to the generation of price proposals, via comprehensive pricing rules or [image-nocss] price optimization, to consistent and timely implementation. High levels of automation and an "exception-based" approach ensure a rapid response to competitors and market conditions and allow pricing analysts to leverage the power of pricing analytics, the technology company said.
Bob Stein, KSS CEO and president, said, "With current demand for gasoline low and price volatility high, it's important to have reliable analysis tools that quickly help retailers like Circle K identify and evaluate competition, make informed pricing decisions and quickly enact changes to pricing strategies."
KSS is a leading global provider of pricing analytics, price management, rules-based pricing and optimization technology and services to fuel retailers and wholesalers in the oil and gas, convenience store, grocery and big-box retail industries. Clients include global, national and regional companies managing more than $175 billion in revenue through 24.000-plus fuel sites and rack terminals throughout the world. KSS US headquarters are located in Florham Park, N.J. and European headquarters are based in Manchester, U.K.
Circle K is a subsidiary of Laval, Quebec-based Alimentation Couche-Tard Inc. Currently, there are more than 2,100 Circle K stores across the United States and more than 4,000 international locations.
In other company news, KSS has released KSS Mapping, its latest business intelligence tool. KSS Mapping is designed to present up-to-the-minute pricing and performance data on a map-based display, incorporating both traditional map views and satellite photographs. A valuable addition to KSS business intelligence tools for those involved in pricing, KSS Mapping will allow users to quickly visualize competitive landscapes by pinpointing price and other critical performance data on the precise physical location of own and competitor sites. Users will be able to quickly search for sites and see the physical proximity of competitors, the main traffic routes and other key geographic features, giving them a deeper understanding of local market dynamics.
Available immediately, KSS Mapping is compatible with the PriceNet (retail) and RackPrice (wholesale/commercial) fuels pricing systems.
“KSS Mapping is the result of consultation with a number of our customers who told us that utilizing maps to present and analyze key pricing and performance data is a highly desirable feature, for pricing analysts and senior management alike. We believe this tool will greatly enhance understanding of market dynamics and thus enhance pricing effectiveness,” said Stein
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