In the Press
Over the last three years, Retail Solutions has been one of the most innovative companies in the CPG space. Retail Solutions' solutions have brought new levels of depth to the way CPG companies understand their customers and what all parties, retailers, manufacturers and merchandisers can do in near-real time.
-Kara Romanow, Executive Editor, Consumer Goods Technology Magazine
Sales and Marketing Solutions
Pricing Management
Most Consumer Packaged Goods companies are confronted with end-consumer prices only when they are discussing promotions and new product introductions. However, for your baseline business, how can you make sure that for each of your products, the price point selected by your retail customer is the optimal one? As you schedule a promotion, can you accurately predict the link between the price point and the consumer demand? Finally, is pricing consistently applied at your retail customers?
Leveraging a combination of proprietary science and methodology and its unique access to point-of-sale (POS) data, Retail Solutions gives you the tools to better understand the impact of pricing decisions and automate pricing analysis so that you can get back to your retailer customer and suggesting alternate pricing that will maximize sales and margin for both yourself and your customer - based on actual sales data, not on a theoretical modeling exercise.
Retail Solutions customers leverage downstream data to support their retailer customers in making the best pricing decision for both parties, in real time. Our customers remain informed about pricing at the store level in real time, leverage that information to identify opportunities or issues and have built an automated framework enabling them to take the best pricing decisions, both for everyday business and promotions. Some of Retail Solutions use cases for pricing management include:
- Price optimization and price setting - linked to store cluster analysis
- Price analysis (elasticity, cannibalization...)
- Price compliance
Retail Solutions customers understand the optimal price point to increase sales at the lowest possible level - for each product at each individual store. Armed with that knowledge, Retail Solutions enables each supplier to become a better partner to their retailer customers by identifying the optimal pricing approach that increases sales and margin levels for both parties.
- Identify optimal price point for sales and profit (from both a retailer and a CPG company standpoint) by using price elasticity modeling by type of store, planogram or cluster
- Automatically identify stores that have changed their everyday price and inform the buyer or category manager to help correct mistakes or issues
- Identify stores that do not implement price changes and send alerts to sales representatives or category manager
Retail Solutions provides its customers with an extensive set of templates and algorithms to help them automate most complex pricing management analytics and help them take the right decision faster.
- Provides a logical decision making framework to make complex pricing decisions easier to analyze and more intuitive
- Bases all pricing management decisions on real facts rather than on theoretical modeling
- Refreshes in real-time to ensure decisions are taken on most recent data - not on last month's demand
- Seamlessly incorporates external data sources such as syndicated data, census data, weather data, promotion and coupon information
- Manages unlimited attributes and hierarchies at the store- and item-level, originating both from the retailer and the supplier