Retail - Price & Promotions

Problem

All promotions are targeted towards customers but does the promotion induce the buyer’s behavior all time? No, those promotions are useful only to those who have already fixed their mind to buy the product. Delivering prices and promotions to enable the shopper’s mindset to buy the product is the best objective of promotion. Promotion strategy depends on what is promoted, how and when. A good promotion increases demand for the product.

Challenges

  • Promotions are not always targeted towards prospective buyers
  • Competitive pricing from competitors
  • No proper tools to assess and validate current promotion and strategies
  • Inability of the promotion to induce buyer’s behavior

Tools

  • Google BigQuery

Result

  • Assess current price & promotion capability (strategy, governance, tool and processes) and develop multi-year plan to move up the maturity curve
  • Validate merchandise rules to institute logical shelf pricing that reflects consistent and clear pricing policies for your customers
  • Establish strategic customer-first roles of each category and execute optimised prices that drive growth, profitability and desired customer response
  • Prioritise investment by analysing and documenting the most effective promotional strategy, price point and tactics by category
  • Accurately model, forecast, plan, deliver and measure every promotion, event, and campaign using an integrated promotions management solution.