Retail Optimization
Creating a safe and convenient parking experience for customers.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
| investor investor | €0.0 | round | |
| N/A | €0.0 | round | |
N/A | Acquisition | ||
| Total Funding | 000k | ||
Retail Optimization, Inc. was established in 2006 to provide sophisticated space management and assortment planning software for retailers and their suppliers. The firm specialized in developing cloud-based solutions that enabled clients, primarily in the supermarket and drug channels, to analyze and optimize their product assortment and both micro and macro store layouts. The company's software integrated various data points, including consumer information, supply chain factors, market data, and store layouts, to inform decisions on the optimal size and arrangement of categories, aisles, and departments.
The company's core offering allowed retailers to move beyond traditional category-by-category planning. Instead, it empowered them to assess the revenue and profit impact of proposed space and assortment changes on the entire store. This holistic approach, which leveraged predictive analytics and demand-based science, provided retailers with the necessary insights to make the most effective use of their physical space and product selection, whether at the chain, cluster, or individual store level. The software was designed to help break down organizational silos in merchandising and improve demand forecasting to better meet shopper needs. By optimizing the placement and allocation of products, the platform aimed to enhance financial results and customer satisfaction.
After raising approximately $2.84 million in funding from investors including Connecticut Innovations, Elm Street Ventures, and LRVHealth, Retail Optimization, Inc. was acquired by Revionics on June 12, 2012. The acquisition was a strategic move by Revionics, a provider of retail life cycle price optimization solutions, to create an end-to-end merchandise optimization suite. The integration combined Retail Optimization's expertise in assortment and space with Revionics' capabilities in price and promotion, offering a comprehensive solution for retailers to manage all key merchandising levers.
Keywords: retail space optimization, assortment planning, merchandise optimization, retail analytics, demand forecasting, store layout optimization, space management software, predictive analytics in retail, cloud-based retail solutions, macro space optimization, micro space optimization, retail merchandising, consumer goods manufacturers, supermarket technology, drug store technology, demand-based science, retail software as a service, Revionics, store planning, category management