Revionics Acquires Assortment/Space Optimization Vendor
ROSEVILLE, Calif. -- Retail lifecycle price optimization solutions provider Revionics Inc. acquired Retail Optimization Inc., a cloud-based assortment and micro and macro space optimization solutions vendor.
This acquisition extends Revionics' Life Cycle Price Optimization Solutions with the addition of Retail Optimization's cloud-based Assortment and Micro and Macro Space Optimization Solutions. According to Roseville, Calif.-based Revionics, the combination of these two solutions brings all the merchandise planning levers -- price, promotion, assortment and space -- together to deliver an end-to-end merchandise optimization solution.
"This acquisition underscores our commitment to continually innovate with cloud-based solutions focused on addressing retailers' most critical business challenges," said Marc Hafner, Revionics' President and CEO. "Retail Optimization has the same approach we do, which is to incorporate next-generation predictive analytics and demand-based science into our offerings to ensure our customers have best-of-breed solutions that drive a competitive advantage."
Together, these solutions will help retailers break down merchandising organizational silos and improve demand forecasting to better meet shopper needs and ensure retailers have the right product, price, promotion, placement and space allocation for optimal financia
results and improved customer satisfaction and loyalty, according to the announcement. Offered on a highly scalable, high-performance, cloud-based platform, the solutions "future-proof" retailers from Big Data/Fast Data challenges, while providing speed to return on investment, Revionics stated.
The new products that are now immediately available from the acquisition include:
• Revionics Assortment Optimization
• Revionics Macro Space Optimization
• Revionics Micro Space Optimization
"Our advantage is driven by our unique 'Simultaneous Top Down/Bottom Up optimization' capability -- simultaneously optimizing category size, product mix and inventory levels at the individual store level, making true marginal trade-offs by facing, SKU, category [and] department," said Karen Dutch, senior vice president at Revionics.
Additionally, the company said the solutions bring together otherwise separate but critical information in determining an optimal merchandising execution program, such as shopper demand information, loyalty data, market data, market basket data, store layouts, planograms, business rules and strategy, and financial objectives. Real-time "what if" scenario planning capabilities allow retailers to compare and contrast the optimized results of different strategies before selecting one for implementation.
This acquisition is part of Revionics' master product roadmap and vision to be the first and only vendor that can offer retailers a next-generation, fully integrated end-to-end merchandise optimization solution.