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Peruvian Pharmacy Giant InkaFarma Taps Revionics to Transform its Pricing Strategy, Sharpen Competitive FocusAUSTIN, Texas, April 12, 2016 /PRNewswire/ -- In recent years, falling commodity prices have tempered growth in the Peruvian market and shoppers are more price- and budget-conscious, leading savvy retailers like InkaFarma to look at a more systematic approach to optimizing prices. Revionics, Inc., a leading provider of End-to-End Merchandise Optimization solutions, today announced it has entered into a multi-year agreement with InkaFarma, Peru's mega-pharmacy which is part of the Intercorp Group, to select Revionics, Inc. Responsive Merchandising Solutions. The fast-growing pharmacy giant, which almost doubled its number of locations in 2015, has licensed Revionics® Price Optimization as well as engaged analytical services including Elasticity Workbench, Key Value Item Analysis, Store Zone Cluster Analysis, Item Cluster Analysis and Competitive Response Analysis. InkaFarma executives sought a business and culture shift to an Everyday Low Price (EDLP) strategy with a disciplined and measurable approach to implementing that evolution. The team assessed two dominant market leaders, including Revionics, and were impressed by Revionics' depth of expertise and its partnering approach. The Revionics team brought highly focused engagement throughout the sales cycle, including CEO-to-CEO discussions to ensure alignent at the most strategic levels. "Pricing to accommodate budget-conscious shoppers while not just blindly lowering prices across the board is key to successfully executing our EDLP strategy," said Carlos Arce, CEO at InkaFarma. "Revionics' track record of strategic partnership with leading retailers to deliver value and their commitment to helping us implement a successful transformation in our strategy while protecting the bottom line is critical. With Revionics analytics to filter out the noise from the true demand signal, we can focus strategically on competitively pricing those items that truly matter to our customers." "It's exciting to welcome a regional powerhouse like InkaFarma to our growing roster of Latin American customers," said Revionics CEO Marc H. Hafner. "Our mission is to help InkaFarma achieve unparalleled competitive advantage in the market with our unmatched solutions and services – to help them anticipate and respond at speed and scale to competitive and market pressures while ultimately delivering value for their customers." To learn more about Revionics, visit www.revionics.com or email us at [email protected]. Tweet This: About Revionics, Inc. About InkaFarma Contact: Alison Raffalovich Logo - http://photos.prnewswire.com/prnh/20160125/325727LOGO
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/peruvian-pharmacy-giant-inkafarma-taps-revionics-to-transform-its-pricing-strategy-sharpen-competitive-focus-300248485.html SOURCE Revionics, Inc. |