Fast-growing Philippines-based retail chain to deploy AI-powered price optimization solution
AUSTIN, Texas — October 27, 2021 — Revionics, an Aptos Company and provider of retail pricing, promotion, markdown and advanced analytics solutions, today announced that Prince Retail will deploy Revionics’ intelligent pricing platform. The technology investment will enable Prince Retail to optimize pricing decisions for products sold at its more than 65 locations throughout the Philippines.
Based in Cebu City, Prince Retail is a chain of retail and wholesale stores that was founded in 1990 by Robert Lim Go. Operating under the Prince Hypermart banner, Prince Retail is a one-stop shop, providing customers with a wide variety of grocery, general merchandise and department store items. With a strong commitment to the Filipino market, Prince Retail offers affordable prices for the quality merchandise it sells, with an emphasis on serving underserved shoppers in rural and island regions.
As one of the fastest-growing retailers in the Philippines, Prince Retail has opened a significant number of new stores in recent years, expanding its reach throughout the far-flung regions around the country. To accommodate this growth and to ensure it can offer shoppers the best prices in each store it operates, Prince Retail is investing in Revionics technology to bring greater levels of scale, science and automation to its pricing function.
“By leveraging a data-driven approach to pricing, Prince Retail can offer our valued customers the most competitive pricing on the items that matter most to them,” said Rina Janine Go, Chief Merchandising, Marketing and Distribution Officer at the Prince Retail Group of Companies. “The COVID-19 pandemic brought to the forefront many challenges for Filipino people and businesses. For Prince Retail, our response has been to lead through the crisis with resilience and innovation.
“Our selection of the Revionics Base Price Optimization solution reflects this spirit of innovation,” Go added. “With Revionics, we can unlock pricing that achieves stronger financial results and maintains our strong focus on the customer. With its advanced AI algorithms, the pricing tool will allow us to optimize prices across every product and in every store — even as consumer behaviors, competitive positions and local conditions continue to shift.”
Trusted by retailers around the world, Revionics is a recognized leader in the retail price optimization space. Its cloud-based solutions are used by top retailers across the grocery, discount, drug, convenience, sporting goods, general merchandise, hardware and specialty retail sectors.
Following its acquisition by Aptos in 2020, Revionics continues to expand its customer base globally — including in the strategic Southeast Asian market. The partnership with Prince Retail reflects Revionics’ and Aptos’ commitment to building their local presence throughout the region.
“Prince Retail, with its mission to serve the underserved, is an inspiring retail group that has a positive impact on the lives of its customers,” said Steve Towe, Aptos COO and President. “We are immensely proud to work with a retailer of this caliber and to support Prince Retail in its adoption of a unified pricing strategy. As more Philippine retailers adopt digital transformation strategies, our best-in-class pricing, customer experience and merchandising solutions are a direct match to their needs.”
About Revionics, an Aptos Company
Revionics LLC, an Aptos Company, provides enterprise retailers around the world with leading, science-based solutions for pricing, promotions, markdowns and competitive insights to illuminate their way on the lifecycle pricing optimization journey. As a trusted partner for top retailers across a variety of industries and markets, Revionics delivers unparalleled results in ROI, profit lift, process efficiencies and more.
Powered by robust analytics and advanced AI models, Revionics equips retailers with clarity and confidence to make optimal pricing decisions. With science at the center, Revionics’ machine learning capabilities translate consumer, competitor and market data into actionable insights and transparent pricing recommendations for high-impact results.
Revionics is a registered trademark of Revionics, LLC. All other company and product names may be Trademarks, Registered Trademarks or Service Marks of the companies with which they are associated.