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SCOTTSDALE, Ariz. - KhiMetrics, Inc. announced today that Albertsons will implement KhiMetrics' retail revenue management (RRM) solution to help develop and execute strategy relative to promotions and pricing for its 2,300 supermarkets and drug stores nationwide.
Albertsons said the use of RRM tools will be part of its strategic goal of growing sales and maximizing return on capital investment to enhance shareholder value. In the past year Albertsons conducted an extensive analysis of its RRM options, and, following a successful test, the companywide contract was awarded to KhiMetrics.
"Management of our retail revenues is a critical element as we proceed in a highly competitive marketplace," said Bob Dunst, e.v.p. and chief technology officer of Albertsons. "We take advantage of the best available technologies as we consistently evaluate and refine the backstage tools that support our growth strategies. RRM gives us increased capability to manage our pricing and improve our business performance across multiple categories while we simultaneously focus on dedication to providing the ultimate shopping atmosphere and making life easier for our customers."
"Albertsons, through their rigorous analysis of retail revenue management and the corresponding validation it represents for this industry, has elevated the standards for retail revenue management solutions," said Brent Lippman, president and c.e.o. of KhiMetrics. "Our solution has benefited through this extensive customer evaluation, and our team is eager to deliver on our commitment to merchandising effectiveness and sustainable value creation for Albertsons."
KhiMetrics' patented Retail Revenue Management Suite helps retailers improve profitability without sacrificing sales or competitive price image. The suite supports retail business processes for pricing, promotions, and demand forecasting through modeling customer demand, measuring price image relative to competition, and optimizing prices and promotions to meet the retailers' concurrent goals for market share, sales, profit, and price image. KhiMetrics was the first to launch a promotions application for the retail industry and has been consistently proved to increase retailer profitability, often generating a positive return on investment in less than six months. Other KhiMetrics clients include PETsMART; Safeway PLC, one of the United Kingdom's largest retailers; ShopKo; Pamida; and Big Y Foods.