SCOTTSDALE, Ariz. (PRWEB) January 08, 2018
Clear Demand, a leading innovator in pricing and promotion solutions to the global retail industry, announced the successful implementation of a pricing initiative for Indiana-based Ricker's Convenience Stores. With a strategic objective to increase gross profits at targeted revenue objectives in its 56 convenience retail locations, Ricker's tapped Clear Demand's Merchandise Pricing and Promotion solution to identify opportunities for increased profitability.
Over the course of the implementation, Clear Demand used Rickers' own data to build historical consumer demand models for its stores. Clear Demand then developed an opportunity assessment for each merchandise category, zeroing in on individual products and subcategories where price adjustments could drive gross profits by either increasing gross margins or sales. The findings were immediately actionable and resulted in a significant increase in gross profit dollars. “Clear Demand has helped us transform our mountain of merchandise and promotional big data into retail price changes that have yielded measurable gross profit increases,” said Quinn Ricker, CEO of Ricker's.
“We are thrilled that Ricker's has selected our new Merchandise Pricing and Promotion solution to increase profitability of inside store sales. This has been a rewarding collaboration in which Ricker's has achieved increased profits and Clear Demand has defined the solution to meet the specific needs of convenience store operators,” said Jim Sills, CEO of Clear Demand. 'We are now ready to roll out the new Merchandise Pricing and Promotion solution to our global client base and the convenience store industry at large. The addition of this new solution to our product portfolio allows convenience store retailers to manage and optimize revenue and gross profit for the total site, fuel and convenience store.”
Headquartered in Anderson, Ricker's mission is to be the upscale convenience store of choice in Indiana. Ricker's was founded in 1970 by Jay and Nancy Ricker in Middletown, Indiana. Ten years later, they purchased the company's first convenience store. Since its inception, Ricker's has grown to include more than 56 high-end convenience stores, which employ more than 800 Hoosiers. Ricker's prides itself on clean stores, a friendly environment and staff, and its famous 'RickerPop' fountain drinks. For more information, visit http://www.rickersrewards.com.
About Clear Demand
Clear Demand is the first company to deliver an omni-channel lifecycle pricing solution for retailers that synchronizes prices, promotions and markdowns online and in-store to produce a consistent brand and shopping experience. Clear Demand uses its patented science that analyzes historical sales to understand shoppers’ sensitivity to price and generate price and promotion strategies that account for pricing rules, cost changes and competitor prices to achieve profit and revenue goals. Architected on big data and delivered as a software-as-a-service (SaaS), Clear Demand’s Intelligent Price Maintenance and Optimization (IPMO) solution can be administered from a public or private cloud. Clear Demand’s innovations in retail science simplify adoption and use, while allowing retailers to see value in just weeks with more transparency and minimal disruption to existing business. For more information, visit http://www.cleardemand.com.