Grocery
As a grocery retailer, effective pricing of 30,000 to 50,000 items is an immense challenge. Ensuring that your pricing tactics align with your market pricing strategy is often difficult, if not impossible.
The complexities of managing thousands of items, numerous price zones and ad groups, vendor cost changes, competitor price checks and an ever-changing promotional environment lead to a process that typically focuses on tactical price changes without any insight into their overall business impact. What’s more, you must juggle this complexity under enormous time constraints. This is what we call merchant time.
The sheer number of items and price changes lead most retailers to manage pricing by a set of pricing rules that lean heavily toward average gross margins and rounding rules. What’s more, pricing decisions often become reactionary and ineffective. Without enough time or information, you may make tactical price changes without full knowledge of their overall business impact.
Real-time, Any-time, Merchant-time
The KSS Retail price optimization solution offers you a faster, easier—and far more effective method. It’s one that offers you a unified model for both everyday and promotional pricing and provides price modeling real-time, any-time, merchant time.
Our solution allows you to develop pricing that aligns with consumer demand. PriceStrat offers a complete, feature-rich solution that enables you to optimize demand-driven pricing and promotions.
- Increasing profitability by optimizing pricing on all items in a category to meet performance targets across all stores
- Maximizing the impact of promotions by providing insight into sku-level customer demand and price dynamics within and across other categories
- Sharpening pricing tactics through modeling the impacts of competitive behavior
- Enhancing strategic and tactical planning by providing predictive insight into pricing and promotion activities
- Producing up-to-the-minute, in-depth reports that measure and evaluate implemented decisions
- Improving productivity by reducing the time it takes to turn discussion points into effective decisions—and data into actionable information
- Putting superior science, analytics, and mathematical capabilities in the hands of day-to-day decision makers
- Providing a unified, calendar-based forecast inclusive of everyday and promotional pricing activities