Leading retail company in the Dominican Republic to adopt AI-powered price optimization
ALPHARETTA, GA. — June 5, 2024 — Revionics, an Aptos Company and provider of retail pricing, promotion, markdown and advanced analytics solutions, announced today that Grupo Ramos will deploy its intelligent pricing platform to bring greater levels of sophistication and customer-centricity into pricing decisions. The retailer will leverage Revionics’ base price solution to optimize prices at 79 retail locations throughout the Dominican Republic.
Based in Santo Domingo, Grupo Ramos is the leading retail company in the Dominican Republic and one of the largest private employers in the country, with more than 8,500 employees. Grupo Ramos operates three retail business formats: hypermarkets, under the Sirena brand; supermarkets, under the Sirena Market brand; and discount stores, under the Aprezio brand. Across its commercial establishments, Grupo Ramos’ stores receive more than 50 million visits per year.
“Grupo Ramos, which has been providing services to the Dominican Republic market since 1965, has constantly evolved, adapting to the changing needs of our customers,” said Michael Weinerth, Merchandising VP at Grupo Ramos. “We are always looking for innovative ways to improve the customer experience and strengthen our position in the market. This is why we are implementing a cutting-edge technology solution for price optimization, in collaboration with our strategic partner, Revionics.
“In the dynamic retail market, price setting is a crucial element that directly impacts the perception of value of our products and the satisfaction of our customers. With our multiple brands, formats and a variety of products in constant expansion, it became too complex to manage price decisions manually. With the implementation of this price optimization solution, we are taking a step forward in our strategy to offer competitive prices to our customers.
“Revionics has proven to be a leader in the field of price optimization, with a robust platform and advanced analytical capabilities that will allow us to make more informed and accurate decisions in real time. This strategic partnership gives us the opportunity to optimize our pricing strategy in a more efficient and agile way, quickly adapting to market fluctuations and changing consumer demands.”
Following a comprehensive evaluation of price optimization vendors, Grupo Ramos selected Revionics with the belief that its solution can improve price perception and achieve stronger financial results — even as consumer demand, local conditions and other factors continue to shift.
"The modern architecture of Revionics, its superior science and the expertise of its team were important factors in the selection of this technology,” Weinerth said. “We also appreciate the transparency of the AI and the ability to carry out simulations that give visibility to why price recommendations and factors that influence these decisions are made. As a leader in the Dominican Republic, we are always looking for ways to do right for our customers and always keep them at the center of all decisions.”
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, categories, etc. — and robust reporting is provided along with deep insights into the impact and value generated by price changes.
“We are excited to partner with Grupo Ramos, a dynamic retailer that is admired by so many Dominicans for its outstanding selection and high-quality products,” said Scott Zucker, General Manager at Revionics, an Aptos Company. “With Revionics’ AI-driven pricing, Grupo Ramos can deliver customer-focused prices and improved efficiency for all its pricing activities.”
About Revionics, an Aptos Company
Revionics LLC, an Aptos Company, provides enterprise retailers around the world with leading science-based solutions for pricing, promotions and markdowns. 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 and Aptos are registered trademarks of Revionics, LLC and Aptos, LLC, respectively. All other company and product names may be Trademarks, Registered Trademarks or Service Marks of the companies with which they are associated.