ANDERSON, Ind. -- Ricker's convenience stores aims to improve the profitability of the chain’s retail pricing strategy with the implementation of Kalibrate’s new Merchandise Pricing and Promotion solution.
The technology provider used Anderson, Ind.-based Ricker's existing data to model the c-store’s consumer demand history, then assessed the opportunity for each merchandising category by focusing on areas where price adjustments could improve gross profits. “Kalibrate has helped us transform our mountain of merchandise and promotional big data into retail price changes that have yielded measurable gross profit increases,” Ricker’s CEO Quinn Ricker said in Kalibrate’s press release announcing the collaboration.
Bob Stein, Kalibrate’s CEO, said, “We are now ready to roll out the new Merchandise Pricing and Promotion solution to our global client base and the convenience store industry at large. The addition of this new solution to our product portfolio now allows fuel and convenience retailers to manage and optimize revenue and gross profit for the total site, fuel and convenience store.”
Cleveland, Ohio-based Kalibrate advises fuel, convenience and supermarket retailers in more than 70 countries on fuel pricing, location planning, merchandise promotions and global market intelligence.