NEED FOR AI & data Analytics
R-kioski is an entrepreneur-driven convenience store chain, which offers food and beverages, as well as everyday goods and services – quickly and conveniently whenever and wherever the customer wants them. R-kioski is a part of Reitan Convenience and REITAN AS, and has a nationwide coverage with approximately 460 stores.
R-kioski and Houston Analytics, part of Unikie, have been working together to optimize and manage the prices of assortment, maximizing the accuracy of pricing decisions with built-in and automated demand prediction models, price elasticity analysis and optimization. Additionally, we have been working on optimizing locations and performance of the R-kioski store network.
Fast and nice is the pricing
R-kioski was looking for a solution for intelligent pricing control as part of its information-based management development path.
Houston Analytics, part of Unikie, provided R-kioski with a Price Optimization solution for price banded pricing control. The solution included for example automatically updated dashboard views covering price related decision-making, and much more.
The pricing optimization solution significantly increased the company’s understanding of the price elasticity of its product portfolio and how to anticipate the impact of price changes. Price changes suggested by the solution were easy to implement using the tool.
Optimizing the store network
We have also been working to identify the most potential new locations for network expansion and consider changes in the current network of R-kioski. The simulation capability was necessary to forecast and simulate the potential revenue and sales impact of various market changes from both category-specific and overall perspectives.
Houston Analytics, part of Unikie, provided a Store Network Optimization solution built on top of the existing retail data model used for price optimization. This solution collects and synchronizes the required data to predict the potential of current and new locations. Using up-to-date dashboards, R-kioski has been able to review suggestions on potential new locations, and report current store network performance.
