Love’s Partners With Revionics for Customer-Centric Pricing
OKLAHOMA CITY — Love’s Travel Stops & Country Stores Inc. signed a multi-year agreement with Revionics Inc. to utilize its SaaS-based solutions, Revionics Price Optimization and Revionics Promotion Optimization, across the retailer's network of more than 370 travel centers in 40 states.
Love’s selected the company following an in-depth assessment of four retail solution providers, according to Austin, Texas-based Revionics.
Revionics is a leading provider of end-to-end merchandise optimization solutions, which are designed to be intuitive, transparent, scalable and easy to use. The company's self-learning science provides insight into the "why" behind price and promotion recommendations to help retailers make intelligent, profitable decisions.
Armed with automated workflows and sophisticated analytics, Love's will be able to ensure consistent execution and improved forecasting across all its banners and stores.
“We are excited to partner with Revionics to provide customer-centric pricing to our unique customer base of people traveling across the country, and we are excited to standardize on a solution that provides deep insight into key customer demand signals," said Jay Dempsey, merchandising technology manager for Love's.
"We value Revionics' 'what-if' scenario planning, as well as its ability to evaluate and leverage real-time and historical price and promotions data and provide insight into what products we should carry nationally vs. regionally based on customers' shopping behavior," Dempsey continued. "With more targeted, systematic pricing and promotions, we can be more competitive, increase customer loyalty, scale for growth and protect profitability."
More than 62,000 retail locations worldwide utilize Revionics solutions today. More than 18 million products and 2.6 billion item/store combinations are modeled weekly.
"2015 was a busy year for Love's and there are no signs of slowing down in 2016 for this growth-focused company that plans to double its footprint," said Revionics CEO Marc H. Hafner. "We are honored to have been selected the vendor of choice by Love's. Our proof has always been in the ROI [return on investment] and the value we deliver for our customers day in and day out. Our mission is to become a trusted advisor and partner to Love's to help it effectively and profitably execute against their key business and growth objectives."
Oklahoma City-based Love’s is currently No. 14 on Forbes magazine’s annual listing of America’s Largest Private Companies.