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DALLAS -- Software firm Retalix here is joining forces with KSS Retail and Willard Bishop, LLC to offer grocers a "holistic" price management offering, which includes the creation of an overall pricing strategy, the execution and analysis of price management, and a science-based price optimization system.
Retalix said yesterday that the companies will combine a range of strategic consulting offerings and advanced technology solutions to help grocers execute effective price management programs that include:
-- Price Strategy Development conducted by Willard Bishop, a solution tailored to a retailer's unique competitive environment and designed to enhance price image, while driving sales and sustainable profits.
-- Price Strategy Execution and Analysis via Retalix HQ/Store software, Retalix's central and store-level rules-based item pricing and inventory management solution, which controls, automates, and analyzes store pricing strategies.
-- Price Optimization using KSS Retail's PriceStrat product that leverages scientific algorithms to generate optimized regular and promotional prices.
"We forged this partnership to better respond to the industry's requirement to establish and manage prices on an end-to-end basis," said Ray Carlin, e.v.p. for Retalix USA, in a statement.
As a second phase, StoreNext Retail Technologies, a Retalix subsidiary, will offer the integrated approach via its hosted Connected Services program.
"Pricing strategy continues to have a huge impact on grocers, and retailers now have to rethink their strategy around supplier price increases, stiff competition, and other industry pressures," noted Jon Hauptman, partner at Barrington, Ill.-based Willard Bishop, LLC. "This alliance will give grocers a unique chance to incorporate the development of pricing strategies into their technology purchases, so that they can fully realize the benefits of technology and be even more competitive in the marketplace."
KSS Retail is a supplier of science-based pricing intelligence, optimization, and modeling solutions to the grocery, convenience retail, chain drug, and mass retail industries. Willard Bishop is a consulting firm working with retail and foodservice companies. Retalix is an independent provider of software solutions to retailers and distributors worldwide.