Famous Footwear installs Oracle Retail Price Optimization
19 Jan '07
2 min read
Famous Footwear has installed the latest release of Oracle Retail Price Optimization to more quickly bring consumers the shoes they want throughout its retail stores in North America. Oracle Retail Price Optimization analyzes sales and inventory data and recommends markdowns that help Famous Footwear keep inventory moving through its stores while improving margins.
Famous Footwear expects the Oracle Retail system to play an important role in maintaining its brand image for providing customers with fresh styles and high-quality footwear at a value. The company, which operates more than 980 retail stores in the United States, recently completed the Oracle Retail Price Optimization update across its entire business.
"Oracle Retail Price Optimization will provide insight into consumer demand for styles and trends, which helps us create pricing that shoppers consider a value," said John Dembinski, Vice President-Merchandise Planning and Allocation for Famous Footwear. "Our customers expect fresh, trend-right product in our stores, and the system will help us deliver on that promise."
Oracle Retail Price Optimization enables Famous Footwear to analyze current and historical sales, inventory and pricing. To do this, the system streamlines many data sources to provide merchants and buyers a single source of information about item performance and inventory levels. The system then recommends pricing opportunities and predicts the impact of various promotions and pricing levels on margins and inventory "sell-through," or how quickly a pair of shoes is purchased once it arrives on the shelves.
marketing@alchempro.com
