Maverik, an innovative US convenience store chain with over 250 locations across 10 Western states, has signed an agreement to license software from Applied Predictive Technologies (APT) to improve its data-driven decision-making across merchandising, pricing, marketing, operations, and capital investments.
Maverik will use APT’s Test & Learn and Market Basket Analyzer software modules and joins other leading convenience store chains – including Shell, Sunoco, The Pantry, Thorntons, and Wawa – that have chosen APT’s cloud-based software to improve customer experience and shareholder value.
During an initial pilot project with APT, Maverik used APT’s software to optimise its beverage strategy, refine pricing, and measure the incremental impact of new offerings on fuel and merchandise sales.
Aaron Simpson, VP of customer fanatics at Maverik, said: “Though we have a great analytics team at Maverik, APT’s software has improved the speed, accuracy, and granularity of our data-driven decisions. Unlike other software tools, APT generates actionable recommendations for how to improve performance across a wide range of business programmes. APT’s Test & Learn software allows us to reduce the risk associated with rolling out a new strategy across our network. It rapidly tells us the incremental impact of each new idea, while providing store-by-store recommendations about which ideas to deploy.
“APT’s Market Basket Analyzer software has substantially improved our ability to use detailed transaction-level data. Using the software, our decision-makers can easily access all of our transactional data in one place – we don’t have to write queries to aggregate the data or develop code to answer each business question. The software allows us to easily explore the data to understand which items to promote, how to improve bundles, which items are found in larger baskets, and which items are good candidates for rationalisation.”
“As retailers collect more data about the details of each transaction, the question becomes: how do we use this data to improve decisions?” said Marek Polonski, senior vice president at APT. “The first way is through rapid and in-depth analysis of their transaction-level data. Such analysis helps retailers design more effective promotions, improve their bundling strategies to grow basket size, and understand which SKUs to rationalise.
“Another way in which convenience stores are effectively using their data is through Test & Learn. By first trying a new idea in a subset of the network, retailers can confidently determine which ideas work, which components work best, and how they can be targeted for maximum profitability. These in-market tests often include such innovations as tailoring menu offerings, customer loyalty programmes, and digital promotions.
“We are absolutely thrilled that Maverik has chosen APT’s software to power their innovative concept. We look forward to having a long partnership with Maverik.”