Lenta installs price optimisation tech
Written by Anthony Strzalek
One of Russia’s largest retail chains, Lenta, has selected price optimisation technology from US software firm Revionics.
Lenta will initially conduct a pilot rollout using Revionics across five product categories: industrial bread, ice cream, cooking oil, yogurt and air fresheners. The rollout will encompass both its traditional hypermarket stores and its newer supermarket formats.
Lenta also plans to leverage Revionics Analytical Services including Key Value Item (KVI) analysis to refine its KVI list and category roles, and identify the best store cluster approach, while improving efficiencies in the pricing process.
Herman Tinga, commercial director at Lenta, said: “At Lenta, we remain focused on giving our 10 million-strong customers quality products at competitive prices. By adopting Revionics’ market-leading price optimisation technology, we can do extensive analytics and scenario planning to ensure that we give our customers the very best pricing where it matters most.”
Marc Hafner, chairman and CEO of Revionics, added: “We are impressed with Lenta’s data-driven approach to providing market-leading grocery experiences for their customers, and we are delighted to team up with them to bring top-tier current-generation price optimisation to that mix. It’s exciting to welcome another innovative Russian retailer to our growing EMEA and world-wide customer base.”