eBags.com, an online retailer of luggage, handbags and similar accessories, chose Revionics’ analytics-based Price Optimization tool to help improve its pricing strategies. The move “will ensure we are competitively priced for today’s increasingly-informed shopper,” stated Vince Jones, CEO of eBags.com, in a press release. It also will ensure that customers “find competitive prices on everything on our site,” said Jones, “whether they’re shopping for a well-known brand with category-leading products, or more of a specialty brand with niche products.”
The Revionics Price Optimization tool addresses price elasticity, seasonality, trends, cannibalization and affinity. Imbedded business rules incorporate margin targets, competitive posture, private label relationships, price change limits and more. The Revionics pricing strategies are designed to configure to any level of store or product hierarchy, leverage predefined strategies, and customize and drive a price image.
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