Revionics announced the immediate availability of its Markdown Optimization module designed for retailers. The system recommends pricing for products at the end of their lifecycle, such as clearing seasonal inventory, eliminating products with outdated packaging, overstock situations, and product closeouts. Markdown prices are optimized to control the pace of inventory reduction over a period of time, while maximizing profit margin contribution and revenues for these items. Retailers with excess holiday inventory, due to tough economic conditions, can now take advantage of markdown optimization technology based on sophisticated demand intelligence and retail pricing science, and be live in as fast as 90 days. Built from the ground up, the Revionics offering provides superior modeling of consumer demand, faster processing of data, and ultimately better results for retailers.
Offered as a subscription-based software service securely accessed over the Internet, the Revionics Markdown Optimization module is available either in a standalone fashion or it can be used in an integrated fashion with the various other components of the Revionics Advanced Pricing System (RAPS) such as Base/Everyday Price Optimization and Promotion Optimization.
“It is a tough time to be a retailer and our new Markdown Optimization module is designed to provide retailers with much needed relief to help with their closeout inventory,” stated Todd Michaud, President and CEO of Revionics. “Our system can deliver significant financial benefits for retailers in a very short period of time.”
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