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ALPHARETTA, Ga. — Revionics, an Aptos Co. and provider of retail pricing, promotion, markdown and advanced analytics solutions, announced Monday that Farmaenlace, one of the leading pharmacy chains in Ecuador, has selected Revionics’ pricing intelligence platform. Once implemented, Revionics’ AI-powered base price solution will allow Farmaenlace to improve price perception with shoppers, increase profits and boost sales.
Based in Quito, Farmaenlace has the mission to offer products that create health, well-being and convenience for its customers. Through both corporate- and franchise-owned stores, Farmaenlace has expanded to more than 1,250 locations operating under the banners of Farmacias Económicas and Farmacias Medicity.
As its business has grown in size and complexity, Farmaenlace recognized the need to bring increased levels of automation, scale and sophistication to the way it manages its pricing function. Following an in-depth evaluation, Farmaenlace selected Revionics, based on the solution’s advanced functionality, proven and transparent AI, and deep expertise in the retail vertical.
“The preferences of Farmaenlace customers vary from store to store, banner to banner and region to region,” said Dennis Criollo, Technology and Business Intelligence Manager at Farmaenlace. “We want to be extremely responsive to our shoppers’ needs, and this requires offering attractive pricing on the items our customers care most about.
“With Revionics technology, we can optimize more prices with less effort and easily scale to manage more products and stores,” Criollo continued. “Expected benefits of our Revionics implementation are elevated customer satisfaction, reduced workload for our pricing teams and overall greater profitability.”
Trusted by retailers around the world, Revionics’ AI models accurately forecast demand changes and recommend optimal prices specific to each client’s unique goals and its customers’ behaviors and buying patterns. Prices can be optimized at every level — product, key value item groups, zones, categories, etc. — and robust reporting is provided with deep insights into impact and value generated by price changes.
“With Revionics’ fast-learning AI, retailers can outpace market changes and outprice competitors with confidence,” said Scott Zucker, General Manager at Revionics, an Aptos Company. “It’s a privilege to partner with a company like Farmaenlace that is agile and innovative. Farmaenlace is committed to anticipating the needs of its customers and aligning its business accordingly. Its investment in Revionics is a prime example of that.”
