MATTHEWS, N.C. -- Family Dollar Stores Inc. is renewing its software contract with Revionics Inc., a leading provider of end-to-end merchandise optimization solutions. This renewal agreement will extend Family Dollar's services with Revionics Price Optimization. The dollar-store chain will be leveraging Revionics' solutions in each of its more than 7,600 stores in 45 states.
"As one of the fastest-growing discount retailers in the United States, we rely on our partners to deliver innovation to support our growth and success so that we can focus on providing more value to our customers," said Mike Bloom, Family Dollar president and COO. "Over the past three years, Revionics has proven that they are a great partner for Family Dollar through their cutting-edge technology and pricing analytics that protects our strong value perception while assisting us to improve our profitability."
Family Dollar selected Revionics Price Optimization in 2009 for base-price management and optimization as part of their merchandising initiative, Project Accelerate, which focused on a merchandising transformation in pricing, space productivity, assortment planning and workflow capabilities. For this major initiative, Revionics' solution provided Family Dollar with price-optimization software to support its market growth plans, expanded product mix and shopper-centric "everyday day value pricing" (EDVP).
In addition, Revionics is helping Family Dollar balance competitive and value-based pricing with profitability.
"We are extremely excited to renew and expand our partnership with Family Dollar," said Marc Hafner, president and CEO of Revionics. "We are very proud to have helped Family Dollar offer extremely competitive and 'value-based' pricing to their customers and look forward to helping them maximize inventory value, increase value perception, brand awareness and loyalty with our Life Cycle Price Optimization solutions."
Revionics delivers an end-to-end merchandise optimization solution enabling retailers of all sizes to execute a fact-based omni-channel merchandising strategy using a comprehensive set of shopper demand signals to enhance financial performance with improved customer satisfaction. Revionics' solutions leverage advanced predictive analytics and demand-based science to ensure retailers have the right product, price, promotion, placement and space allocation for optimal results across all touchpoints in the omni-channel shopping episode--online, in-store, social and mobile. Offered on a scalable, high performance Cloud-based SaaS platform, these solutions future-proof retailers from "big data/fast data" challenges, while providing speed-to-return on investment (ROI).
More than 31,000 retail locations and $95 billion in annual revenue across grocery, drug, building materials, convenience, general merchandise, discount, sporting goods stores and e-commerce sites use Roseville, Calif.-based Revionics' solutions.
Matthews, N.C.-based Family Dollar operates more than 7,600 discount stores in 45 states.