Private blog series created for Publix.
Change is a certainty in the grocery world. 2017 proved this out with highlights including Amazon’s acquisition of Whole Foods, European discount grocers Aldi and Lidl planning U.S. expansion, the Northeast-based Wegmans expanding South—and Publix ‘s own expansion plans to extend competitive reach.
Keep that Competitive Edge with Technology
You already know that technology is an important and even imperative component in supporting your financial, operational and expansion goals. Publix is clearly doing a lot of things right, with your customers’ loyalty making headlines as proof positive that you are already living your mission to be the premier quality food retailer with a passionate focus on customer value. Keep that momentum going as you strategically build your next technology initiatives that align with your plans.
Hone in with the Power of Pricing, Promotion and Markdown
How should you protect against competitive pressures? Your most current annual report specifically notes the possibility of financial and operational impacts stemming from competitors’ pricing, purchasing, advertising and/or promotional decisions—as well as from competitor innovation and expansion.
This echoes what we hear from grocery retailers every day: Pricing, promotion and markdown technology can deliver far-reaching results. Not only in their isolated functional areas, but as part of the strategic plan to innovate and expand.
Here is a quick look at some of the ways that technology can help you advance Publix’s strategic objectives and future-proof your pricing, promotion and markdown operations:
- Your continued focus on increasing sales and profits while providing premier customer service: Delivering the right pricing, promotions and markdowns drives customer sales, satisfaction and brand experience while enhancing profitability and your competitive edge. Look for seamless integration and self-learning models that quickly respond to fast-changing demand signals.
- Your ongoing pursuit of operational excellence: Reinforce data-driven decision-making with pricing, promotion and markdown technology fueled by science and analytics. Optimize price and drive additional efficiencies and process improvements with strategic promotions and markdown workflow and automation. Real-time speed to insight delivers recommendations at the point of decision as you streamline operations while reducing margin leakage.
- Your growth strategies, including expansion, format diversification, private label and e- commerce enhancement: Scalability is imperative. Look for solutions with the scale and multichannel capabilities to drive optimized pricing, promotions and markdowns that deliver customer value across any channel, local or online. The right technology will help you optimally manage the complexities, individual market segment nuances and product mixes of your many locations, store sizes and banners, including Greenwise and Sabor. Localize while still retaining holistic visibility.
With so much at stake, the proven value of end-to-end pricing, promotion and markdown technology looks like a great idea for building and retaining competitive edge in 2018. In our next post, we’ll take a closer look at ways strategic promotion and markdown can help you deliver on your customer promise. Stay tuned!
Revionics helps retailers serve and retain happy customers with unique, patented solutions that give retailers a competitive advantage. Our strategy-driven solutions are delivering results at food and pharmacy retailers across the globe in all segments, channels and formats. Some of our customers include Big Y Foods, BJ’s Wholesale Club, Delhaize, Ahold USA, Lowes Foods, Save Mart Supermarkets, Roundy’s Supermarkets, Family Dollar, Dollar General, and many others.