7-Eleven Selects KSS Retail for Price and Promotion Optimization
FLORHAM PARK, N.J. -- 7-Eleven Inc. selected KSS Retail for its price modeling, forecasting and optimization solution stores in the U.S. and Canada, the company reported.
7-Eleven will use KSS Retail's PriceStrat and Heartbeat systems to conduct extensive market-basket analytics and affinity analysis to drive more effective promotions, and will also deploy PriceStrat's cigarette buy-down capabilities to manage the category at both the store and headquarters level, the vendor reported.
PriceStrat is KSS Retail's integrated software application that manages both regular and promotional pricing, and enables retailers to model "what-if" pricing scenarios.
"7-Eleven does phenomenal work in understanding its customers and how to best serve them," Lance Jacobs, chief executive officer of KSS Retail said in a released statement. "PriceStrat is the industry-leading tool for modeling retail pricing and promotions and will provide 7-Eleven with greater insight into how customers shop their stores. We look forward to a long and productive partnership."