Brookshire Bros. Selects KSS PriceNet
Will roll out intelligent price optimization solution across all fuel sites
Published in CSP Daily News
FLORHAM PARK, N.J. -- Brookshire Brothers, a grocery retailer with more than 70 grocery stores and 71 fuel centers in East Texas, has selected the KSS PriceNet intelligent pricing solution to provide efficient fuel price management and optimization at its corporate fuel centers.
Lufkin, Texas-based Brookshire Brothers is one of the world's leading retail distributors of Conoco branded gasoline and had previously selected KSS PriceStrat for its in-store price modeling and optimization solution. It will use KSS PriceNet to model and forecast the impact [image-nocss] of different fuel pump prices to consistently achieve volume and margin goals. KSS PriceNet will also provide insight into the relationship of fuel pricing on in-store sales.
With the volatility of gasoline prices today, it is extremely crucial for us to analyze our pricing and competition on a daily basis. KSS PriceNet allows us to monitor and adjust pricing strategies in real-time. In an industry where daily rack price changes can result in 40% to 50% swings in street margin, it is imperative that we are competitive and profitable at every single location, for every single price decision. We are able to analyze different pricing scenarios per location and price in a way that will not only generate the highest volume results, but the greatest ROI as well, said Larry Negron, director of petroleum marketing at Brookshire Brothers.
By utilizing the suite of KSS Intelligent Pricing solutions for both their stores and their fuel centers, they will have a better understanding of customer demand across their whole business, combined with the tools and capability to leverage that understanding for better pricing decisions, said Iain Cockburn, CEO of Florham Park, N.J.-based KSS. The KSS Price Modeling suite is installed within their four walls which reduces their costs and allows them access to optimization on demand.
KSS PriceNet is an intelligent fuel price management system with the ability to accurately track volume and competitive price moves in the market and optimize fuel pump pricing, by grade of fuel, by location. KSS PriceStrat is an intelligent store item pricing workbench that enables price and promotion planning and optimization. The KSS Library of consumer demand models provides the basis for understanding and forecasting consumer demand across the store and fuel center, as well as the inter-relationships of these purchases.