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Must be the Weather: Firms Link Retail Behaviour
US firms Planalytics and Revionics have partnered to incorporate the former's weather intelligence into the latter's price optimization solution, to help clients adjust pricing decisions to match localized consumer buying behavior.
Revionics provides price, promotion and markdown optimization technology for retailers and distributors in the FMCG sector. Planalytics offers a source of information to help companies understand and optimize the impact of weather on their business.
The partnership integrates Planalytics' location- and product-specific weather-driven demand indices into the Revionics Advanced Pricing Solution (RAPS). RAPS applies demand intelligence and retail pricing science to retailer data, to help clients pitch the optimal price for products. The partners say the new link will provide retailers with insights into where and how much weather will influence demand.
'There are thousands of food, beverage and other consumable products on the shelves of supermarkets, drug stores and mass merchants which are significantly affected by weather,' said Fred Fox, Planalytics President and CEO. 'In today's need-driven economy, consumer purchasing decisions are heavily influenced based on the weather.'
Todd Michaud, Revionics President and CEO says the benefits to clients are 'immediately measurable and significant'.
The companies are online at: www.revionics.com and www.planalytics.com .
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