Northern Tool: Equipment Boosts Pricing Strategy

Northern Tool + Equipment will unlock pricing strategies that deliver stronger financial results and customer satisfaction through the use of science and data-driven pricing.

Northern Tool + Equipment, a family-owned business, is based in Burnsville, MI. It has been supplying high-quality equipment and tools for over 40 years. Products are sold through direct channels, online, and at 120 retail locations throughout 22 states. Tool + Equipment offers a large selection of hand, power, and air tools. We also have more than 100,000 tools in stock.

Northern Tool + Equipment realized the importance of integrating greater automation, scale, and sophistication in its pricing management across its multichannel retail business. The retailer selected Revionics, an Aptos company’s intelligent pricing platform. Northern Tool + Equipment will use Revionics’ AI-powered pricing optimization, promotions and markdowns solutions. Revionics’ advanced AI algorithms allow retailers to optimize prices for every product and channel, regardless of consumer demand or other factors.

John Bakke, Northern Tool + Equipment’s EVP, stated that customers’ shopping habits change and Northern Tool + Equipment is constantly looking for ways to improve its business to meet their expectations. We are on a price optimization mission with Revionics in line with this commitment. This will allow us to offer more customer-centric pricing, whether the shopper is shopping online or in-store.

Tool + Equipment will use the pricing platform to create a unified pricing strategy. This allows the company to react faster to market changes and provide attractive pricing. These solutions will allow Northern Tool + Equipment, to offer targeted promotions, optimize markdowns throughout the product’s life cycle, as well as monitor pricing trends.

Revionics empowers retailers with the clarity and confidence they need to make the best pricing decisions. Revionics puts science at its core. Its machine learning capabilities transform consumer, competitor, and market data into actionable insights that translate into transparent pricing recommendations and high-impact results.

Pete Sinisgalli, Aptos CEO, stated that retail pricing is both an art form and a science. Retailers cannot afford to leave science out of today’s highly competitive and fast-paced retail environment. Tool + Equipment is proud to be a supporter of this centralized pricing strategy, which can increase shopper loyalty as well as business performance.

True Northern Tool

Northern Tool + Equipment was founded by Don Kotula in 1980. Since then, the company has maintained a consistent vision: building long-lasting relationships and providing the best solution for customers. Tool + Equipment is now a multi-billion dollar company, offering over 70,000 tools through its website, catalogs, and retail stores. We are looking for talented people who want to share their ideas, expertise and initiative. We support and develop our teams so that they can succeed. We get to know our customers, provide value, and act with integrity. True Northern is what we are.

It’s big enough to matter, but small enough that you can make a difference

Is it possible for a family-owned business to be a major player in the market? Together, Northern Tool + Equipment generates over $1 billion annually. Northern Tool + Equipment is a leader in our industry. Tool + Equipment is also a family-owned business. Our headquarters building’s senior management can be found just down the hall or up a few stairs. Don Kotula doesn’t just sit in an oil painting in our lobby, he walks the halls offering advice and wisdom to the team.