The leading European beauty retailer has selected Revionics' Price Optimization and Promotion Optimization to take its price efforts to the next level.
Douglas, one of the leading beauty retailers in Europe, has selected Revionics' Price Optimization and Promotion Optimization to take its price craftsmanship to the next level. With companies like Sally Beauty, Swanson, and eBags already using the technology, the international pricing tool is leveraging artificial intelligence-based science to provide prices and promotions that ensure enhanced customer engagement.
As one of the key operational elements of #ForwardBeauty, Douglas’ new strategy to strengthen and expand its leading market position, the right pricing policy is the basis for its sustainable business success. In recent years, the company had to face a more complex and competitive landscape with both new and existing online and brick-and-mortar competitors. Therefore, Douglas has recently set up a new pricing department to develop a more dynamic pricing approach with a clear focus on customer segments and a leading category strategy.
“One of our key targets is to position Douglas as the consumer centric beauty destination,” said Tina Müller, CEO of Douglas. “Aiming at this goal, we are heavily investing in state-of-the-art technologies in order to strengthen our competitive power. With Revionics’ analytics and optimization capabilities, we can craft pricing and promotional offers that are most relevant for shoppers, while also delivering consistent price strategies across all our markets as we continue both organic and acquisition-based business growth.”