Shop Direct leverages AI solution
Shop Direct has implemented Revionics, an AI based price and promotion optimisation solution. It was originally tested by the online retailer its business in Ireland prior to roll-out in the UK. Shop Direct has annual sales of £1.96 billion and will, later this year, re-brand to The Very Group as part of its plans to being its name and identity in line with its fastest growing brand.
"The success of this customer-centric pricing initiative is due in no small part to our unique culture at Shop Direct, which embraces a willingness to constructively challenge the traditional ways of doing things, at the same time recognising the critical value of thorough planning and a comprehensive end-to-end approach," said Shop Direct's group retail director Sam Perkins. Adding "Rather than adopting retail price optimisation technology in isolation, we took a holistic end-to-end approach, from a meticulous consensus driven selection process, to setting up the right price strategies, processes and organisation structure, to a disciplined implementation roll out, all of which enable us to maximise the impact of these powerful optimisation capabilities. And we teamed with Revionics at every step of the way to benefit from the best practices they've seen as they've worked with leading retailers worldwide."