Saudi Arabia’s leading grocery store chain invests in pricing solution to enhance value for shoppers.
Revionics, an Aptos Company and provider of retail pricing, promotion, markdown and advanced analytics solutions, has 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 optimize prices at nearly 200 hypermarkets and supermarkets.
Based in Jeddah, Saudi Arabia, Panda is the region’s leading 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 optimization 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. “In regards to our investments in Revionics’ technology, at Panda, we’re all about putting the customer first. As the leaders in our industry, it’s our job to keep looking ahead. We know that customer preferences change as the world economy shifts, and that’s why we’re committed to tailoring our offerings to each individual and, above all, making sure we provide real value.”
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’ behaviors and buying patterns. Prices can be optimized at every level — product, key value item groups, zones, categories, etc. — and robust reporting is provided along with deep insights into the impact and value generated by price changes.
“Panda’s selection of Revionics reflects our ability to deliver a powerful solution, unmatched pricing expertise and industry-leading science to help our clients get maximum value and competitive advantage from their pricing function,” said Scott Zucker, General Manager at Revionics, an Aptos Company.
“With new pricing innovations, Panda takes another step forward in its mission to grow share and deliver even more value to the communities it operates in,” Zucker added. “We are proud to partner with this remarkable and visionary retail group.”
