Tractor Supply selects price optimization solution from Revionics
Roseville, Calif. Revionics, a provider in retail lifecycle price management software, and Tractor Supply Co., the largest retail farm and ranch store chain in the United States, Tuesday announced Tractor Supply has selected Revionics as their price optimization solution provider. Tractor Supply will implement the Revionics Price Optimization solution across all merchandise categories over the next 12 months.
Tractor Supply selected the solution due to its interest in offering more consumer-demand driven pricing in its stores. With Revionics weekly modeling of consumer demand data, the chain will have the ability to identify sales trends within their stores and take a more proactive approach to pricing by location in a more timely fashion.
“Based on our evaluation of many software providers, Revionics provided the best system for modeling shopping behavior by market at the frequency we feel is necessary to stay ahead of our customers’ demands,” said Tom Roush, VP planning, inventory management, and pricing at Tractor Supply, which operates 967 stores in 44 states. “Our team now has a powerful tool to plan and optimize pricing strategies by merchandise category down to the store level, ultimately enabling us to better attract and retain customers.”