BLOOMINGTON, Minn. -- Holiday Stationstores has renewed its service agreement with Revionics Inc. and will continue to leverage the firm's Life Cycle Price Optimization solutions. The renewal agreement includes Revionics Price Optimization, Revionics Promotion Optimization and Revionics Markdown Optimization for full price lifecycle planning and management.
Holiday implemented Revionics Price Optimization solutions in October of 2010 to gain a deeper understanding of Key Value Item (KVI) pricing along with leveraging margin enhancements of less-sensitive items, improve zone structure to take better advantage of competitive positioning, make more fact and science-based pricing decisions and better align pricing with category strategy and compare and analyze outcomes of different pricing strategies and allow for "what-if" scenarios, Revionics said.
Holiday will also use enhanced Tiered Pricing capability, which will help it make decisions regarding how to most effectively price items with tiered prices. This will ensure that the best tiered pricing is recommended for optimal sales and profit, said the company.
"With a steep competitive landscape and a still fragile economy, there is no room for pricing errors; therefore, we needed to adopt a proven, science-based solution that allows us to develop pricing that is reflective of our strategy and provides optimal results," said Dean Solyntjes, director of pricing and business support for Holiday Stationstores. "We are extremely pleased with the ROI and increased gross margin we have obtained from Revionics' system, and we are looking forward to fully leveraging all the capabilities their pricing solutions have to offer."
Marc Hafner, Revionics president and CEO, said, "Holiday has been leveraging Revionics to determine optimal prices and as a result they have seen an impact in gross margins. They have established a successful fact-based methodology and we are very excited to continue working with them to help grow their overall business."
Roseville, Calif.-based Revionics delivers lifecycle price-optimization solutions to retailers, including base, promotion and markdown pricing. The company's solution leverages an integrated forecast, enabling a "coherent" view of customer demand across all decision areas. Its proprietary approach applies advanced analytics and science to predict customer behavior, empowering retailers to achieve their financial objectives, improve customer loyalty and make better, faster decisions, it said. The company delivers the solutions on a modern, fully scalable, software-as-a-service platform. More than 20,000 retail locations across grocery, drug, building materials, convenience, general merchandise, discount and sporting goods stores are priced using Revionics solutions, according to the firm.
Holiday Stationstores, a Bloomington, Minn.-based, family-owned company, offers 450 locations throughout 10 states in the northern tier of the United States, including Minnesota, Wisconsin, Michigan, North Dakota, South Dakota, Montana, Wyoming, Idaho and Washington, as well as in Alaska. For more than 80 years, the company has been committed to providing high-quality fuel. Its Blue Planet gasoline, with Smart Power engine cleaning additives, meets or exceeds leading automobile manufacturers' Top Tier Standards in all grades of gasoline. The Holiday Pantry brand of proprietary sandwiches, salads and other food products distinguish this c-store/gas station chain.
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