Mexican convenience store chain Oxxo has entered a three-year license agreement with US-based software company Revionics for its Price Suite with optional analytical services.
The license for the Price Suite includes key Value Item Analysis, Elasticity Workbench and Store Zone Clustering.
Oxxo marketing and commercial strategy director Pedro Esquivel said: “As we continue to focus on better efficiency and automation company-wide while delivering more customer-centric and competitive pricing, we wanted price optimisation that leverages a science-based approach utilising diverse data sources to drive customer loyalty and deliver bottom-line results.”
To gain a competitive edge and enhance margins, Oxxo has selected Revionics for its price optimisation solution with sustained profits and focused price updates.
Revionics chairman and CEO Marc Hafner said: “Oxxo’s important role in the Mexican convenience store market is a strong testimony to their commitment to customer experience and delivering both value and quality.
“We’re excited about a strategic relationship with a market leader that reflects both our growing Latin American customer base and our rapidly expanding presence in the C-store sector globally.”
Having more than 15,000 stores across Mexico, Oxxo is a part of Femsa Comercio, which operates retail chains of small format in Mexico, Chile and Colombia.
Other retail chains of Femsa Comercio include include pharmacies YZA, Moderna, Farmacon and Cruz Verde; Maicao beauty stores and Doña Tota fast-food restaurants.
Revionics provides retail solutions to manage and optimise pricing, promotions, markdowns and space.