FLORHAM PARK, N.J. -- KSS, a major provider of fuel pricing automation and optimization solutions, has announced a partnership with PWM GmbH that will deliver integrated forecourt price and promotion management and display systems.
This partnership provides integration between KSS' price optimization software and Bergneustadt, Germany-based PWM's electronic price signs and profit boards. That ensures that fuel and convenience store retailers can accurately and consistently communicate price and promotional offers to their customers, driving greater customer [image-nocss] interest at a fraction of the cost of more traditional techniques.
KSS' PriceNet fuels pricing automation and optimization software helps retailers more effectively manage fuel prices and meet volume and profit goals, by geographic location and fuel grade, the company said. PWM electronic price signs then allow retailers to rapidly implement recommended prices. This guarantees compliance and enables retailers to respond almost immediately to local market events and competitive price changes.
KSS' PriceStrat merchandise pricing and promotion software helps retailers choose products to promote and how to promote them to drive item and category performance, said the company. PWM profitboards allow retailers to efficiently communicate in-store promotions on the forecourt, raising customer awareness and driving interest.
The combination of the partners' technologies means retailers can respond faster to market opportunities, minimize costs associated with price changes, boost customer loyalty by accurately communicating price and promotion offers and exert appropriate price management controls, critical to satisfying compliance guidelines such as Sarbanes-Oxley.
"KSS and PWM working together can provide fully automated, high-efficiency fuels and store price management systems capable of delivering tremendous value to retailers of all sizes. With a major joint installation already in place with a European customer, we are confident that we can help customers leverage the value proposition of both our solutions," said Mark Hawtin, KSS vice president of business development.
In KSS, we have found a partner whose software tools can help retailers forecast the impact of price on volume and profit prior to implementation, giving them the opportunity to challenge established practices based on quantified understanding, said Dr. Max Krawinkel, PWM managing director.
More than 22,500 PWM electronic price signs are installed at gas station chains in the United States and Europe, the company said. They benefit from sales, customer loyalty and strong location profiles as a result of using PWM electronic price signs as presentation towers for communicating current prices and services to their customers, it added.
KSS is a leading supplier of comprehensive pricing intelligence, optimization and execution solutions to the convenience retail, grocery, chain drug and petroleum industries, helping retailers manage in excess of $50 billion in annual revenue from more than 15,000 outlets.
Its U.S. headquarters is in Florham Park, N.J., and its European headquarters is in Manchester, U.K.
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