Fred’s selects KSS Retail for price modeling, optimization
CINCINNATI — Looking to optimize pricing and promotions, Fred's on Wednesday announced that it will implement KSS Retail's PriceStrat solution in its more than 670 stores and 300 pharmacies throughout 15 states.
PriceStrat is an integrative software in which retailers can manage both regular and promotional pricing, and enables them to model what-if pricing scenarios for store products, facilitating pricing decisions that are more timely and effective in optimizing sales and value for customers, KSS Retail said.
“With PriceStrat, we can enhance our overall price image and provide the most competitive prices possible for our customers,” said Bruce Efird, Fred’s CEO. “In addition, the ability to optimize both regular and promotional pricing together gives us a more comprehensive understanding of our customers’ shopping needs and behaviors.”