7-Eleven selects KSS Retail for price and promotion optimization
Florham Park, N.J. KSS Retail announced that 7-Eleven, the world’s largest convenience store operator, franchisor and licensee, has selected KSS Retail for its price modeling, forecasting and optimization solution for 7-Eleven stores in the United States and Canada.
7-Eleven will use KSS Retail’s PriceStrat and Heartbeat systems to conduct extensive market-basket analytics and affinity analysis to drive more effective promotions. The convenience retailer will also deploy PriceStrat’s cigarette buy-down capabilities to manage this high-volume category at both the store and headquarters level.
PriceStrat is KSS Retail’s integrated software application that manages both regular and promotional pricing. The solution also enables retailers to model “what-if” pricing scenarios, thus facilitating pricing decisions that are more timely and effective in optimizing sales and value for customers.