There are major shifts underway in retail markets all over the world, but one of the most volatile landscapes is surely the Brazilian one. Brazilian GDP growth is at an historic low, while inflation and unemployment have soared well above their normal rates. In fact, in March 2017, Reuters notes, “retail sales in Brazil unexpectedly fell at the steepest monthly rate in 14 years” with a record 14 million Brazilians ranking among the unemployed as a result of the country’s worst recession ever. Meanwhile Amazon is aggressively expanding its presence in one high-growth segment of the Brazilian economy, ecommerce.
Yet some innovative Brazilian retailers are distinguishing themselves even in a challenging market by earning customer loyalty while ensuring that their businesses thrive. Revionics customer Drogaria Araujo, for example, recently was recognized for the 8th consecutive time as the most remembered brand among all Minas Gerais brands.
I think success like that demonstrated by Drogaria Araujo reflects a retailer’s culture of innovation. Drogaria Araujo was the first company in Brazil to open a drugstore, the first to operate 24 hours/day, the first to provide drive-through pharmacy options, and the first to provide home delivery. And they are an innovative user of Revionics Price and Promotion Optimization suites to deliver customer-focused pricing that keeps the shoppers wants front and center while also delivering on Drogaria Araujo’s business goals.
I invite Latin American retailers to join Guilherme Castnaheira, Drogaria Araujo’s Price Intelligence Coordinator, along with myself and other Revionics retail pricing experts at our fast-paced, results-oriented workshop in São Paulo August 24. At the complimentary workshop, titled “Advanced Strategies for Profit Optimization,” Guilherme will share insights into how price optimization within the Brazilian market can help to:
- Move from manual to automated pricing and from top-down to decentralized
- Overcome price wars and changing economic dynamics to build and execute a high-impact pricing strategy
- Implement change management company-wide to execute a transformational pricing strategy
- Apply zone pricing, competitive indexing, scenario planning and automated rules and constraints to deliver powerful business results
- Gain analytical insights into its promotions, providing customers with targeted offers while protecting gross margins and profits
We’re also offering sessions that offer deep-dives on other related topics, including:
- Crawl, Walk, Run: A Phased Approach to Price Optimization
- Stop the Margin Leakage: Making Promotions Smarter, Faster and More Profitable
- Effective Change Management
- Reaching Your Goals through Markdown Planning and Execution
In these exceptional times, Brazilian retailers need to take decisive measures to ensure long-term business health while earning–and keeping–their customers’ loyalty in an increasingly competitive market. I hope to see you in São Paulo August 24th!