Panda Retail selects intelligent pricing platform for data-approach to pricing
Enterprise, Information technology

Panda Retail selects intelligent pricing platform for data-approach to pricing

Revionics, provider of retail pricing, promotion, markdown and advanced analytics solutions, announced that Panda Retail Company has selected its intelligent pricing platform to adopt a more data-driven and customer-centric approach to its pricing decisions. The retailer will leverage Revionics’ base price solution to optimise prices at nearly 200 hypermarkets and supermarkets.

Based in Jeddah, Saudi Arabia, Panda is the region’s grocery store chain, serving more than 100 million customers annually. Panda was acquired by Savola Group in 1998 and since that time has grown its market share in the food retail sector.

One key aspect of its success has been its investment in modern technology systems that enhance customer satisfaction and profitability. In line with this commitment, Panda saw an opportunity to leverage the latest advancements in data science to bring greater levels of automation, market responsiveness and speed to its pricing decisions.

Following a comprehensive evaluation of price optimisation vendors, Panda selected Revionics with the belief that its software can unlock pricing decisions that improve price perception and achieve stronger financial results, even as consumer demand, local conditions and other factors continue to shift.

“Throughout our company’s history, we have listened carefully to our customers’ needs and preferences and adapted accordingly,” said Ahmad Chehade, Chief Marketing Officer at Panda Retail Company.

Trusted by retailers around the world, Revionics’ AI models accurately forecast demand changes and recommend optimal prices specific to each client’s unique goals and its customers’ behaviours and buying patterns. Prices can be optimised at every level, product, key value item groups, zones, categories, and robust reporting is provided along with deep insights into the impact and value generated by price changes.

 

December 15, 2023

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