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19.04.2023

Revionics UK Ltd

Press Release: Revionics named a Leader in the IDC MarketScape for Retail Price Optimization Solutions

“Customers express a very high degree of satisfaction, both with Revionics’ solution and with the customer service processes,” according to report 
 
ALPHARETTA, Ga. — April 19, 2023 — Revionics, an Aptos Company and provider of retail pricing, promotion, markdown and advanced analytics solutions, announced today that it has been recognized as a Leader in the IDC MarketScape: Worldwide Retail Price Optimization Solutions 2023 Vendor Assessment.1 Revionics’ demonstrated strengths in customer satisfaction, retail industry know-how and scalability were noted throughout the report, as was its depth of data science expertise and responsiveness to customers.
 
The IDC MarketScape vendor assessment is designed to provide an overview of the competitive fitness of suppliers in a given market. IDC defines the market segmentation for retail price optimization as applications and software that leverage data to make algorithmic decisions on best price, appropriate markdowns and promotion optimization to meet margin and revenue goals across enterprise-level retail.
 
“Price optimization has become even more important as the economy emerges from the pandemic and inflation puts added pressure on retailers,” said Ananda Chakravarty, vice president of research, IDC Retail Insights. “Modern and AI-powered price optimization tools, such as those offered by Revionics, can offer retailers a distinct advantage to reduce costs, maintain profitability, and adopt effective price points that consumers will be willing to purchase at.” 
 
The IDC MarketScape highlighted several of Revionics’ strengths:
Industry and pricing expertise: Revionics boasts a singular focus on the retail industry despite its large global footprint. The company builds substantial credibility for its industry expertise from its customers with its retail expertise as a unique advantage among vendors. Customers support Revionics’ claims that the company has expert pricing engineers and engineering capabilities including data science. 
Customer satisfaction: Customers express a very high degree of satisfaction, both with Revionics’ solution and with the customer service processes. Customers have also suggested that data engineers from the Revionics team are irreplaceable over time. 
Explainability: Customers enjoy Revionics’ focus on automation as well as an orientation toward helping retailers serve the end consumer better. Customers considered the explainability, elasticity and confidence of the elasticity key differentiators for Revionics’ solutions. 
Large payload built for scale: Revionics’ solution is designed to handle substantial levels of data points and manage this with high-speed correlation. Revionics is well prepared to meet the challenges of scale across retail, regardless of customer size, geography, channel mix or business model.
In addition to the strengths listed above, the report also noted Revionics’ investments and commitment to enduring customer relationships: 

“Revionics has focused in recent years on responsiveness to customers. Customers appreciate the long-lasting teams, with contact tenures lasting over a decade or more in certain cases. The team incorporates customer feedback well and, more importantly, acts on this feedback through investments that adapt to the needs of customers.” 

Responding to the IDC MarketScape analysis, Scott Zucker, General Manager at Revionics, an Aptos Company, said: “Retailers are faced with unprecedented marketplace disruption, unpredictable consumer behavior and a deluge of data — it’s tough out there. 

“At Revionics, our goal is to help our clients achieve simplicity, confidence and profitability by delivering an end-to-end solution fully focused on retail pricing and powered by industry-leading AI.” Zucker added, “We appreciate the IDC MarketScape’s acknowledgment of Revionics as a Leader in the retail price optimization space, and we are grateful to our customers who shared their experiences as part of this evaluation.”  

To download a complimentary excerpt copy of the IDC MarketScape: Worldwide Retail Price Optimization Solutions 2023 Vendor Assessment, click here.

1 Source: IDC MarketScape: Worldwide Retail Price Optimization Solutions 2023 Vendor Assessment, (Doc #US49458922), March 2023. 

About IDC MarketScape
IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.

About Revionics, an Aptos Company
Revionics LLC, an Aptos Company, provides enterprise retailers around the world with leading science-based solutions for pricing, promotions and markdowns. As a trusted partner for top retailers across a variety of industries and markets, Revionics delivers unparalleled results in ROI, profit lift, process efficiencies and more.

Powered by robust analytics and advanced AI models, Revionics equips retailers with clarity and confidence to make optimal pricing decisions. With science at the center, Revionics’ machine learning capabilities translate consumer, competitor and market data into actionable insights and transparent pricing recommendations for high-impact results.

Revionics is a registered trademark of Revionics, LLC. All other company and product names may be Trademarks, Registered Trademarks or Service Marks of the companies with which they are associated.

Contact:
Kristen Miller
Aptos, LLC
+1 678 695 6566
kmiller@aptos.com

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