East of England Co-operative Society selects Retail Express Price Optimization and Forecasting software.
The solution will improve the East of England Coop’s ability to respond to changes in market conditions and shopper behaviour, strengthening their position to combat the competitive pressures placed on them by the larger Supermarkets and Discounters
Leeds UK – September 17th, 2015 – Retail Express
LEEDS, UK–(BUSINESS WIRE) — Retail Express Ltd., a leading provider of End-to-End Merchandise solutions, announced today that they have entered into a multi-year agreement for Retail Express Price Optimization and promotion forecasting tools with the East of England Co-operative Society, a leading UK regional Co-operative. The solutions will be leveraged in all product categories across all of their food retail stores.
After a detailed selection process, East of England Co-op chose Retail Express life cycle pricing solution due to the solutions’ proven track record in UK convenience and grocery sector and the advanced science and analytics which will enable East of England Coop to more effectively balance its pricing strategies while bringing, speed, accuracy and efficiency to pricing and improving category performance and the bottom line. The Retail Express solution will also provide daily store level forecasts to drive their Store Replenishment system with regular promotional forecasts, item by store. Also key to the decision were new reporting facilities from Retail Express which will help East of England Coop management predict, track and monitor the P&L from a pricing perspective.
We are excited by the opportunities the Retail Express solution can bring to the East of England Coop. This will enable the delivery of pricing strategies that better fit our market and store profiles, Retail Express will provide the flexible tools to automate and control our pricing and promotions process, proactively allowing us to analyse the impact our pricing decisions have on sales and margin” said John Dixey, Head of IT Development at East of England Co-operative Society
“Retail Express welcome East of England Coop as a client and is looking forward to partnering with them to bring benefits to their customers and members by helping East of England provide the optimum pricing strategies for their stores and markets, drive their profitability and help improve availability at the shelf with more accurate sales forecasts. East of England Coop has also chosen Retail Express’s new generation sales/margin and analytical reporting tools which will provide greater insight into the performance of their business” Said Barry Grange, CEO of Retail Express Ltd
About Retail Express – RE 2.0
Retail Express End-to-End Merchandising solution deliver one version of the truth across the organisation and departments while continually forecasting and optimizing your merchandising plans to more effectively respond to changes in market conditions and drive consumer demand.
Price more effectively with Lifecycle price optimization, including regular price optimization and promotional forecasting.. Reduce safety stock and more effectively manage demand with demand forecasting and intervene should conditions change through margin management, analytics and reporting tools.
About The East of England Co-operative Society
The East of England Co-op is the largest independent retailer in East Anglia. It has over 200 branches across Norfolk, Suffolk and Essex. It runs a wide range of businesses, including food retail, funeral, travel, pharmacy, post offices, opticians and investment property.
The East of England Co-op has been serving communities since 1846, and is completely independent of the Co-operative Group. It is owned by over 200,000 members who shared a dividend of over £3 million in 2014.
Each year, the East of England Co-op invests at least £250,000 from its profits to support communities across Norfolk, Suffolk and Essex. In past years it has provided over £250,000 to support healthcare projects. It also makes £80,000 a year available to smaller community projects – its members can vote on which projects to support when they shop.
The East of England Co-op is also a leader in the retail of locally sourced food. In 2014 sales from its ‘Sourced Locally’ range reached £14.6 million. Its work with over 140 local producers has helped to generate over £34million for the regional economy since 2007.
Further details: Philip Grange
Phone: +44 (0)1132 428 867