Planning, execution, and measurement tools to optimize your retail promotionsPromotion planning and execution is one of the most important aspects of a successful merchandising strategy. Retailers often struggle with deciding what to promote, knowing how deep to run the promotion, and structuring how long and how often a product should be on sale.
Revionics Promotions will helps retailers promote more effectively, predicting in advance how your promotion will perform, and even recommending the best items and price-points to feature. Robust planning tools provide a cross-department, collaborative workspace for promotion planning, and unlimited version capability gives you the flexibility to try different offers, items, and time-lines prior to execution.
Optimization science supports a wide variety of promotional events
- Supports all types of promotional activity, including regular ad fliers, in-store events, radio or TV promotions, coupons, and complex promotional offers.
- Manages long-term price reductions, or TPRs (Temporary Price Reductions).
- Includes unlimited version capability for each promotional event to compare predicted outcomes.
Recommended items, price point, and offer to promote based on goals
- Retailers can take a hands-off approach to promotion planning and allow the system to recommend the best items, offers, or price points to feature in a promotion. Retailers can "tune" system recommendations, or simply review and accept the recommendations for turn-key promotion planning.
Integrated deal management improves visibility to vendor funds
- Retailers will enjoy the robust deal management environment, allowing you to record or import vendor promotion funds into one central repository. Manage and record funds by deal type, and leverage the system’s integrated reporting environment to assist in reconciling with vendor programs.
Measure results real-time with Revionics integrated reporting solution
- Revionics integrated reporting and analysis tool provides retailers time-sensitive metrics on how their promotions performed.
- Key Performance Indicators, or KPIs, are pre-configured to deliver turn-key executive dashboards and detailed performance reports. Drill down from the enterprise down to the item/store level to view trends, ranking, and performance metrics.
- Compare future and historical promotions by date, type, and version. Export, graph, email, and share reports with your colleagues.
Additional features included:
Top down and bottom up planning capabilities
- Top down planning enables retailers to plan for a global promotion strategy that automatically filters down to the item/store level. Bottom up planning enables you to plan promotions from the item level or store level, up to broader grouping of items or stores.
Model promotions on-demand, including real-time "what if" capabilities
- Retailers can create promotional forecasts and retrieve optimized ad components on-demand. Simply change key inputs such as vendor cost, deal money available, or margin targets, and re-optimized for updated forecasts on-demand. What-if planning capabilities give retailers a new tool for negotiating with vendors and removing the risk from a promotional plan.
Accurately forecast the net impact of your promotion
- Regardless of how the promotion is planned, the system will predict the net impact of the promotion, including a complete forecast of promotion performance. Cannibalization and pantry loading would be a negative net impact, while affinity and vendor funds would be a positive net impact.
Pricing science and business rules are used during the optimization
- Revionics promotional price determination engine leverages a blend of science and heuristics, or rules, to achieve the perfect offer. Revionics proprietary retail demand intelligence leverages current and historical sales and movement information, incorporating practical business rules to drive the best promotion plan possible.
Accurate impact summary predicts how the promotion will impact the entire store
- The system answers key questions such as, "What happens to my entire store if I run this promotion?", "What happens to the items on the promotion?", and "What happens if I don’t run a promotion at all?"
Highly visual science and art
- Graphics and item-level detail allow retailers to understand the "why" behind the promotion recommendations. Product elasticity graphs, analysis weighting charts, color coding, and item sorting allow category managers to understand and embrace optimization.