Home Depot Mexico Deploys Next-Gen Pricing Capabilities
Building on its promise “to provide the highest level of service, the broadest selection of products and the most competitive prices,” The Home Depot Mexico has begun rolling out a new pricing optimization solution to deliver consistent, competitive pricing across the chain.
Revionics Price Suite is helping Home Depot Mexico deliver more consistent, competitive and customer-centric pricing across its 118 stores throughout the country. Its pricing team will leverage Revionics to gain better insights into customer price preferences, better compete with both online and brick-and-mortar companies and conduct scenario planning and analytics as the company continues to scale for growth across Mexico.
“Since entering the Mexican market in 2001, The Home Depot Mexico has enjoyed a warm welcome and continued robust growth as we reach our planned 119 stores nationwide at the end of 2016,” said Jose Del Angel, director of merchandising support, The Home Depot Mexico. “Our goal is to give our customers the best service, and Revionics is a way to do it, because it allows us to price more competitively where it matters while delivering measurable business results.”
In addition to Revionics Price Management and Price Optimization, the Home Depot Mexico is also leveraging analytical services from Revionics including key value item analysis, elasticity analysis and product affinity analysis. The company seeks to develop a more consistent price perception that aligns with customer expectations and to price competitively on the items that matter most to its shoppers. At the same time, the more modern, automated pricing infrastructure will enable The Home Depot Mexico to scale seamlessly as its business continues to grow.
To learn more about how leading retailers are leveraging next-gen analytics to redefine pricing both online and in-store be sure to attend the “Exhibitor Insights: Facing the Future: Trends in Pricing and Promotions for 2017” session at NRF 2017. EKN Research’s Sahir Anand will present the firm’s latest research on omnichannel pricing, personalization, localization and retail readiness for dynamic pricing. The session will be held on Monday, January 16, 10:15–11:00 am in the Jacob Javits Center’s EXPO Hall, Room 2, Level 1.
For more information on the 2017 Big Show check out RIS News’ preview guide here.