7-Eleven Inc. has selected KSS Retail for its price modeling, forecasting and optimization solution for 7-Eleven stores in the U.S. and Canada.
7-Eleven plans to use KSS Retail’s PriceStrat and Heartbeat systems to conduct extensive market-basket analytics and affinity analysis to drive more effective promotions. It also plans to deploy PriceStrat’s cigarette buy-down capabilities to manage this high-volume category at both the store and headquarters level.
PriceStrat is KSS Retail’s integrated software application that manages both regular and promotional pricing. The solution also enables retailers to model “what-if” pricing scenarios, thus facilitating pricing decisions that are more timely and effective in optimizing sales and value for customers.
“7-Eleven does phenomenal work in understanding its customers and how to best serve them,” said Lance Jacobs, CEO of KSS Retail. “PriceStrat is (a tool) for modeling retail pricing and promotions and will provide 7-Eleven with greater insight into how customers shop their stores. We look forward to a long and productive partnership.”
KSS Retail, a dunnhumby Ltd. company, provides regular and promotional price optimization to leading retailers including Kroger, O’Reilly Auto Parts, Raley’s, Sonae Portugal, McKesson, United Supermarkets, BI-LO and many others.