Shop Direct implements ‘dynamic pricing’ tech
Written by Anthony Strzalek
Shop Direct, the UK’s second largest pureplay online retailer, has selected Revionics Price Suite to drive ‘dynamic pricing’ and respond to market, shopper and competitive trends.
Dynamic pricing is the practice of pricing items at a level determined by a particular customer’s perceived ability to pay.
The retailer has also selected Revionics Promotion Suite and science-based analytics on its promotion performance, allowing it to deliver relevant promotional offers that matter to shoppers, while identifying and phasing out offers that are not compelling.
Shop Direct recently announced its fifth consecutive year of record sales and profits for the 12 months to 30 June 2017 and has announced its commitment to digital transformation.
Sam Perkins, group merchandising director at Shop Direct, said: “We are looking to automation to react more quickly to and anticipate the fast-evolving shopper and competitive landscape. Revionics’ machine-learning capabilities will support highly targeted dynamic pricing. We want to be able to update prices where they matter most at a speed that keeps pace with our business.
“We also value business partners who share our cultural values of trust, pride and collaboration, and we have found that in the Revionics team.”
Marc Hafner, chairman and CEO of Revionics, added: “Shop Direct is rightly regarded as a truly innovative online retail leader and we at Revionics are very proud to help them on their mission to make good things easily accessible to more people. This is an exciting relationship with an exciting company, and we are pleased to welcome Shop Direct to our fast-growing roster of EMEA and global customers.”