Prince Retail to deploy Revionics' pricing platform in Philippines

Prince Retail is a one-stop shop, providing customers with a wide variety of grocery, general merchandise and department store items. With a strong commitment to the Filipino market, Prince Retail offers affordable prices for the quality merchandise it sells, with an emphasis on serving underserved shoppers in rural and island regions. As one of the fastest-growing retailers in the Philippines, Prince Retail has opened a significant number of new stores in recent years, expanding its reach throughout the far-flung regions around the country. To accommodate this growth and to ensure it can offer shoppers the best prices in each store it operates, Prince Retail is investing in Revionics technology to bring greater levels of scale, science and automation to its pricing function, the company said in a media statement.

“By leveraging a data-driven approach to pricing, Prince Retail can offer our valued customers the most competitive pricing on the items that matter most to them. The COVID-19 pandemic brought to the forefront many challenges for Filipino people and businesses. For Prince Retail, our response has been to lead through the crisis with resilience and innovation. Our selection of the Revionics base price optimisation solution reflects this spirit of innovation. With Revionics, we can unlock pricing that achieves stronger financial results and maintains our strong focus on the customer. With its advanced AI algorithms, the pricing tool will allow us to optimise prices across every product and in every store, even as consumer behaviours, competitive positions and local conditions continue to shift,” Rina Janine Go, chief merchandising, marketing and distribution officer at the prince retail group said in a statement.

“Prince Retail, with its mission to serve the underserved, is an inspiring retail group that has a positive impact on the lives of its customers. We are immensely proud to work with a retailer of this calibre and to support Prince Retail in its adoption of a unified pricing strategy. As more Philippine retailers adopt digital transformation strategies, our best-in-class pricing, customer experience and merchandising solutions are a direct match to their needs,” Steve Towe, Aptos COO and president said.

Trusted by retailers around the world, Revionics is a recognised leader in the retail price optimisation space. Its cloud-based solutions are used by top retailers across the grocery, discount, drug, convenience, sporting goods, general merchandise, hardware and specialty retail sectors.

Fibre2Fashion News Desk (GK)