Stop & Shop to Manage Pump Prices with New Software
Regional grocery chain Stop & Shop Supermarket Co. plans to deploy a fully integrated fuel price management offering to optimize its day-to-day fuel pricing for its 70 retail locations that offer fuel.
The grocer will use Florham Park, N.J.-based KSS Fuels’ PriceNet and PriceNet Mobile solutions for the initiative. “PriceNet will help us react more rapidly to local market events and ensure we can continue to offer our customers great prices,” said Mark McGowan, division president of Stop & Shop New England. “We will also be able to monitor performance at all our stores and act quickly in the event of any issues.”
PriceNet is a pricing solution developed to support the key tasks and stakeholders involved in retail fuels pricing. According to KSS, its high levels of automation and an ‘exception-based’ approach ensure a rapid response to competitors and market conditions and allow pricing analysts to leverage the power of pricing analytics. The PriceNet suite of products also includes PriceNet Mobile, which delivers real-time fuels pricing via handheld mobile devices such as PDAs and Blackberrys.
“Stop & Shop now will be utilizing PriceNet to support the consistent delivery of their pricing strategy and to help them establish a highly efficient and responsive fuels pricing process to strengthen their competitive position," said Bob Stein, president and CEO of KSS Fuels. “Our PriceNet products will allow Stop & Shop to evaluate pricing at the local site level and make informed pricing decisions rapidly.”
Quincy, Mass.-based Stop & Shop, which is owned by Ahold, operates over 390 stores throughout Massachusetts, Connecticut, Rhode Island, New Hampshire, New York, and New Jersey.