7-Eleven Convenience Stores Franchise Selects KSS Retail for Price and Promotion Optimization
World's Largest Convenience Store Chain to Leverage Predictive Customer Insight
FLORHAM PARK, N.J. -(BUSINESS WIRE)- KSS Retail announced today that 7-Eleven Inc., the world's largest convenience store operator, franchisor and licensee, has selected KSS Retail for its price modeling, forecasting and optimization solution for 7-Eleven® stores in the U.S. and Canada.
7-Eleven will use KSS Retail's PriceStrat and Heartbeat systems to conduct extensive market-basket analytics and affinity analysis to drive more effective promotions. The convenience retailer will also 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, chief executive officer of KSS Retail. "PriceStrat is the industry-leading 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.
About 7 Eleven, Inc.
7 Eleven, Inc. is the premier name and largest chain in the convenience retailing industry. Based in Dallas, Texas, 7-Eleven operates franchises or licenses close to 8,200 7-Eleven® stores in North America. Globally, 7-Eleven operates, franchises or licenses more than 38,000 stores in 16 countries. During 2009, 7-Eleven stores worldwide generated total sales of more than $58.9 billion. 7-Eleven has been honored by a number of companies and organizations recently. Accolades include: #3 spot on Entrepreneur magazine's Franchise 500 list for 2009, #3 in Forbes magazine's Top 20 Franchises to Start, #3 among Top 100 Global Franchises by Franchise Direct, #3 in Store Growth by Convenience Store News, #2 in Franchise Times Top 200 Franchise Companies and #29 among Top 100 Chains in Food Service. In addition, Hispanic Magazine named 7-Eleven in its Hispanic Corporate Top 100 Companies that provide the most opportunities to Hispanics. 7-Eleven recently was selected by three diversity publications as a company offering the best career and franchisee opportunities. 7-Eleven is franchising its stores in the U.S., and is expanding through organic growth, acquisitions and its Business Conversion Program. In addition, the company received the 2009 Shopper-Centric Marketing Innovation from Symphony IRI and the 2010 Retailer of the Year award from PL Buyer because of the company's private-label brand program.
About KSS Retail
KSS Retail is the premier global provider of price optimization and customer insight solutions for the grocery, convenience, chain drug, general and online retail industries. Retailers use KSS Retail software and professional services to better understand their customer's needs, and to deliver more effective pricing, promotions and merchandising decisions. KSS Retail clients consistently achieve improved market share, sales and profit growth, and enhanced competitive positioning. Current clients include Kroger, Brookshire Brothers, BI-LO, Sonae, Raley's, United Supermarkets, Continente, dabs.com, ABC Fine Wine and Spirits, and many others. KSS Retail is a dunnhumby Ltd. company.