Leading Baltic Grocer Moves Toward More Strategically Aligned, Performance-Driven Pricing
With more than 12,300 people employed Latvia, Lithuania and Estonia, Rimi Baltic is a dominant grocer in the Baltics. Part of the ICA Gruppen family of companies, Rimi Baltic embarked on a quest to select a more analytics- and data-driven approach to pricing, leading to the selection of Revionics‘ AI-based price optimization solution. Like grocers everywhere, Rimi Baltic faces a challenging and fast-changing retail landscape including the proliferation of discounters, increasingly price-sensitive shoppers and fierce competition from online competitors.
The three-year contract for Revionics Price Optimization, which is also used by Rimi Baltic’s sister company Apotek Hjärtat, will enable Rimi Baltic’s pricing and category management teams to deliver prices that shoppers want on the items that matter most to them, while leveraging sophisticated science to recover margins elsewhere and positively impact the bottom line. Rimi Baltic has extended its focus on private label, fresh and non-food items in its category mix, and the team is well-situated to take their pricing to the next level with cutting-edge optimization capabilities.
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“Based on the needs of our customers and organization, we developed detailed, sophisticated requirements and tasked the Revionics team with demonstrating a strong business case on an aggressive timeline – and they have delivered,” said Judit Campos, Assortment and Buying Director for Rimi Baltic. “We value Revionics’ deep science and strong commitment to productive partnering. Rimi Baltic is excited about leveraging Revionics’ AI pricing capabilities to deliver the win-win: better pricing for our customers while enhancing our overall business performance.”
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“Revionics is pleased to deepen our partnership with the ICA Gruppen family of companies by embarking on price optimization for Rimi Baltic,” said Revionics Chairman and CEO Marc H. Hafner. “We are excited to help Rimi Baltic extend its market leadership, improve customer focus and accelerate its business success in the competitive Baltic landscape with AI-based price optimization.”
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