Revionics, an Aptos Company and provider of retail pricing, promotion, markdown and advanced analytics solutions, today announced that it has been recognized as a 2021 technology leader in Quadrant Knowledge Solutions’ SPARK Matrix analysis of the global Intelligent Retail Pricing and Promotion Optimization market.
The study provides competitive analysis and ranking of the leading intelligent retail pricing and promotion optimization vendors in the form of its SPARK Matrix, affording strategic information for users to evaluate different vendor capabilities, competitive differentiation and market position.
Notably, Revionics was the highest-scoring vendor for “technology excellence,” outperforming 25 other vendors that were evaluated in this report. Criteria utilized to measure technology excellence were the sophistication of technology, competitive differentiation strategy, application diversity, scalability, integration and interoperability, and vision and roadmap.
Revionics was also one of the top-ranked vendors for “customer impact.” This category evaluated vendors based on customer service excellence, unique value proposition, ease of deployment and use, proven record, market presence, and product strategy and performance.
“With its strong customer value proposition, industrywide expertise, sophisticated range of retail solutions, transparency in price recommendations, what-if simulations and a transition from rules-based pricing to optimization, Revionics has been positioned as the technology leader in the SPARK Matrix: Intelligent Retail Pricing and Promotion Optimization, 2021,” said Akshaysingh Chandel, Analyst, Quadrant Knowledge Solutions.
“The Revionics platform’s key technological differentiators include SaaS; providing science-based pricing, promotion and competitive insights; machine learning solutions for translating shopper insights and competitive response; and AI to enhance customer engagement, etc.,” Chandel added. “Revionics will continue to hold a strong position in the intelligent retail price and promotion optimization market.”
As noted in the report, COVID-19 has triggered tough competition amongst retailers, and consumers have become more price-conscious. These factors, among others, have driven increased demand for advanced pricing solutions that give retailers the ability to present the right price at the right time to the right customer.
“The pandemic and rapid changes in consumer behavior have created a new sense of urgency to infuse AI into retail pricing practices,” said Scott Zucker, General Manager at Revionics, an Aptos Company. “In this period of extreme volatility, AI-powered pricing strategies are essential to support robust, profitable demand and create a much stronger price perception in the market.”
“As more retailers look to adopt intelligent retail pricing and promotion optimization solutions, we appreciate Quadrant Knowledge Solutions’ recognition of Revionics’ leadership in this area and our established track record of helping our customers achieve stronger financial results, increase customer satisfaction and improve their competitive position,” concluded Zucker.