The Lenta chain has announced that it has selected Revionics’ price optimisation capabilities, to help deliver customer-centric pricing.
The chain said it had been looking for a pioneering, scalable, and science-based approach to offer customers “quality products at competitive prices”. Lenta added: “By adopting Revionics’ market-leading price optimization technology, we can do extensive analytics and scenario planning to ensure that we give our customers the very best pricing where it matters most.”
Lenta will initially conduct a pilot rollout using Revionics across five product categories – industrial bread, ice cream, cooking oil, yogurt, and air fresheners – at both its hypermarkets and supermarkets. Lenta also plans to leverage Revionics Analytical Services including Key Value Item (KVI) analysis to refine its KVI list and category roles, Store Zone Cluster Analysis to identify the best store cluster approach and improve efficiencies in the pricing process, and Elasticity Workbench to analyse how shoppers respond to prices.