Revionics, which is an Aptos Company that offers retail pricing, promotion, markdown and advanced analytics solutions, said Academy Sports + Outdoors will extend the use of Revionics’ pricing intelligence software.
Under a new multiyear agreement, the company said Academy would leverage its base price and markdown solutions “to continue to offer competitive pricing and optimally manage inventory levels throughout the product life cycle,” the company said in a statement.
Academy deploys a localized merchandising strategy, which is built on offering shoppers “attractive prices in each community it serves — an advantage brought to life with the help of Revionics’ Base Price solution,” the company said, adding that with the markdown app, “Academy can clear its seasonal inventory quickly and profitably, keeping its on-shelf selection fresh.”
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Revionics software allows the retailer to take “a customer-centric and data-driven approach to pricing. Revionics’ advanced AI platform can crunch massive amounts of data to help us understand how shoppers will react to different combinations of price increases and decreases, allowing us to price competitively on the items shoppers care most about and be less aggressive on items where demand stays relatively stable even when prices go up,” said Govind Madhu, senior vice president of merchandise planning and allocation at Academy.
Madhu went on to say that having the capabilities “to optimize prices across every product and in every store has been extremely important to us. Despite all the disruption the retail industry has faced in recent years, with our Revionics partnership, we can offer value-driven prices to shoppers and maintain a tight control on the inventory — even as consumer behaviors, competitive positions and local conditions shift.”
Academy was founded in 1938 and has grown to 270 stores across 18 states. Academy’s product assortment “focuses on key categories of outdoor, apparel, footwear and sports and recreation through both leading national brands and a portfolio of private label brands,” the company said. Scott Zucker, general manager for Revionics, said the Academy and Revionics partnership started in 2016 and has progressed since then.
“Academy’s commitment to innovation, robust merchandising, and a deep-seated care for its customers is apparent in everything it does,” Zucker said. “We appreciate the opportunity to be a long-term partner to Academy, helping its business unlock greater value in base price and end-of-life cycle markdown processes.”