News

Fred's Inc. chooses KSS Retail for price modeling and optimization

January 4, 2011

Discount retailer Fred's Inc. of Memphis, Tenn., has selected KSS Retail as its provider of price modeling, forecasting and price optimization. Fred's, with more than 670 stores and 300 pharmacies in 15 states, will utilize KSS Retail's PriceStrat solution to optimize pricing and promotions to enhance its competitive position and deliver customer value.

"KSS Retail and its PriceStrat solution are a great fit for our merchandising operations. With PriceStrat, we can enhance our overall price image, and provide the most competitive prices possible for our customers," said Bruce A. Efird,CEO of Fred's. "In addition, the ability to optimize both regular and promotional pricing together gives us a more comprehensive understanding of our customers' shopping needs and behaviors."

PriceStrat is KSS Retail's integrated software application that manages both regular and promotional pricing and enables retailers to model what-if pricing scenarios for store products, facilitating pricing decisions that are more timely and effective in optimizing sales and value for customers.

"PriceStrat helps retailers like Fred's enhance their pricing operations and explore which pricing and promotions strategies work best — both at the headquarters and store levels," said Lance Jacobs, chief executive officer of KSS Retail. "Fred's is one of the most respected discount merchants in the retail industry, and we're happy to partner with them in this endeavor."