Tuesday, May 19, 2015 — 11:00:03 (EDT)
Revionics signs deal with MGM Resorts International
Austin, Texas, May 19, 2015 -- Revionics, Inc., a leading provider of End-to-End Merchandise Optimization solutions, announced today that MGM Resorts International (NYSE: MGM) has signed a multi-year agreement for Revionics® Price Optimization to enhance retail pricing strategies throughout its U.S. properties, including Bellagio, MGM Grand, Mandalay Bay, The Mirage and other properties. Revionics will assist MGM Resorts in driving and measuring profitability across hundreds of its retail locations, scaling pricing processes to accommodate its retail growth and incorporating enhanced reporting, forecasting and analysis.
“Because we cater to so many different types of customers, we need strategic and precision retail pricing that will motivate purchases among our guests,” said Steve Schnur, MGM Resorts’ Director of Merchandise Planning and Analytics. “After an in-depth search, we found that Revionics met all of our criteria – the solution provides full transparency throughout the pricing process, fast time-to-insights, and scalability.”
The solution features science-based pricing recommendations, self-tuning pricing models, real-time “what-if” scenario planning tools and the ability to rank pricing recommendations based on what will make the most impact on the business. Revionics’ Performance Intelligence provides a clear, graphical dashboard of the pricing strategies and state of the overall business, which frees the MGM Resorts’ pricing team to focus on more strategic pricing initiatives and less on manual pricing reviews.
“We welcome MGM Resorts as a customer as we expand Revionics’ presence in the hospitality sector, and we look forward to supporting their efforts to stimulate increased profitability, competitiveness and loyalty,” said Marc Hafner, Revionics’ CEO, “Our solution will streamline management’s process of establishing priorities, making data-driven decisions and taking action – resulting in a greater ability to predict and shape shopper purchasing behavior.”
About Revionics, Inc.
Revionics delivers proven End-to-End Merchandise Optimizations solutions. Over 40,000+ retail locations around the world optimize with Revionics across 18M+ products and 2.2B+ sku/store combinations are modeled weekly. Revionics empowers retailers around the globe to profitably execute a data-driven omnichannel merchandising strategy by utilizing one of the most comprehensive set of shopper demand signals to increase financial performance and improve customer satisfaction. Revionics’ solutions are powered by unmatched demand-based science and advanced predictive analytics to help ensure retailers have the right product, price, promotion, placement and space allocation to drive business performance and seamless shopper experience – online, in-store, social and mobile. Delivered on a scalable, SaaS-based platform, Revionics solutions offer real-time insights and dynamic decisions at speed, scale and frequency, while providing fast ROI. Revionics has been recognized as a Deloitte Technology Fast 500™ and JMP Securities’ Hot 100 Software Company. To learn how you can compete more profitably, please visit www.revionics.com .
About MGM Resorts International
MGM Resorts International (NYSE: MGM) is one of the world's leading global hospitality companies, operating a portfolio of destination resort brands including Bellagio, MGM Grand, Mandalay Bay and The Mirage. The Company also owns 51% of MGM China Holdings Limited, which owns the MGM Macau resort and casino and is in the process of developing a gaming resort in Cotai, and 50% of CityCenter in Las Vegas, which features ARIA Resort & Casino. For more information about MGM Resorts International, visit the Company's website at www.mgmresorts.com .
Source: Company press release.
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