Lenta, one of the largest retail chains in Russia, widely regarded for its innovative pricing solutions and track record of using data-driven insights to provide relevant assortment and offers to its customer base, has selected Revionics’ science-based price optimization capabilities. Lenta has delivered remarkable success with many business innovations, including its wildly popular loyalty card program, which accounted for 93% of total customer transactions in fiscal fourth quarter 2016. With some 24,000 SKUs, Lenta sought a pioneering, scalable, and science-based approach to delivering customer-centric pricing. “At Lenta, we remain focused on giving our ten million-strong customers quality products at competitive prices,” said Herman Tinga, Lenta’s commercial director. “By adopting Revionics’ market-leading price optimization technology, we can do extensive analytics and scenario planning to ensure that we give our customers the very best pricing where it matters most.”
Lenta will initially conduct a pilot rollout using Revionics across five product categories: industrial bread, ice cream, cooking oil, yogurt and air fresheners. The rollout will encompass both its traditional hypermarket stores and its newer supermarket formats. Lenta also plans to leverage Revionics Analytical Services including Key Value Item (KVI) analysis to refine its KVI list and category roles, Store Zone Cluster Analysis to identify the best store cluster approach and improve efficiencies in the pricing process, and Elasticity Workbench to analyze how shoppers respond to prices.
“We are impressed with Lenta’s data-driven approach to providing market-leading grocery experiences for their customers, and we are delighted to team up with them to bring top-tier current-generation price optimization to that mix,” said Marc H. Hafner, Revionics’ chairman and CEO. “It’s exciting to welcome another innovative Russian retailer to our growing EMEA and world-wide customer base. We look forward to a long and prosperous relationship.”