Every Vertical, Every Channel, Everywhere
Like every shopper, every retailer is unique. Yet no matter your retail vertical, understanding the customer and outmaneuvering your competitors are critical success factors. With our pricing, promotion, markdown and space solutions, we’ve partnered with retailers around the world to improve sales, grow margins, beat competition and create a better value proposition for their customers.
Our cloud-based SaaS solutions deliver significant ROI, are self-funding and enable retailers to take advantage of innovation and change at their own speed.
A Hostile Environment
It’s different this time. Retail has been forever altered by the rise of digital commerce, borderless competition and price-sensitive, non-loyal shoppers who have been scarred by the Great Recession and ongoing economic uncertainty.
Responding to Shoppers
Shoppers expect you to deliver relevant pricing and promotions to them, and if you don’t, they are unforgiving and will go elsewhere. Understanding shopper price sensitivity and other demand influencers is critical to predicting demand and meeting financial targets.
Retailers are establishing new formats, business models and broadening the channels they use to reach shoppers. While many are in transformation mode, continuing to fall back on traditional pricing practices undermines those opportunities. Price matching policies and repeating the same promotions and discount strategy year after year leave retailers ripe for competitors.
Stopping Margin Leakage
All retailers know they are giving away margin, whether that is promoting the wrong items, spending in the wrong vehicles, discounting too heavily or too early, or not pricing for the local market. Yet it is difficult to know where to change or what to stop. Prescriptive analytics and machine learning optimization tools can identify the trouble areas and find other lost opportunities, saving retailers millions.
Becoming Innovative and Agile
Retailers need to be adaptable and quickly adjust to changing business conditions. The underlying technology must adapt and support this dynamic environment. SaaS based solutions keep TCO down and speed innovation without burdening IT to develop and retain new skills. IT can focus on innovation instead of maintenance and do more with less.
Removing Risk of Decisions
Big decisions are risky. If incorrect, they are costly. If implemented too slowly, they are ineffective, and if change occurs too quickly, they upset customers. Simulating different strategies and tactics, supported by machine learning science, allows retailers to predict and compare outcomes so retailers can make the best decision for their business.
Much innovation can come at a hefty cost and be difficult for businesses to adopt. It is critical that innovation is self-funding, implemented at the retailer’s speed, and in a crawl-walk-run manner if necessary. Return on investment must come quickly, be at an attractive TCO, and help fund other, more costly innovation opportunities.