Retail Express have recognised the opportunity to provide a more granular Price Optimisation/Category optimisation and analytics service to Retail Category teams, to help/assist/investigate difficult categories and to provide help where it is most needed on a short term or continuous basis – without the need to commit the whole business or contract for multiple periods.
Areas where we can help:
- Improvement of under-performing categories that would benefit from our science and analytical tools
- Provide more insight into how competitors impact specific categories
- Understand how your promotion plan impacts regular products adversely or helps them
- Insight into what the business rules and differentials should be between product sizes, brands, competitor prices and how alternatives might perform before you adopt them
- More structured price rules and differentials to manage your category successfully as the market changes
- Benefit from seeing accurate predictions of sales, margins and profits for a category including its promotions, before you sign off the category plan for a specific/channel for a week or series of weeks.
- Use of Price Optimisation on specific categories to improve the balance of the category and its performance, to achieve the budgeted goals for the Category and its promotion plan, whilst working within the rules and differentials defined for that category.
It is very hard to manage the pricing of a category effectively without performance rules, and impossible to manage performance rules without smart science tools to reconcile conflicts between price, brand, size, competitor, promo differentials and performance goals. Our Conflict Resolution software, which is part of our Price Optimisation and Price Management suite has these capabilities and makes all this possible. Importantly, we are offering these more granular services without any Capex implications and provided for a fraction of the potential savings, our service offerings do not require any significant IT work.
Retail Express Ltd
Phone: +44 (0)1132 428 867