Price Right … In ‘Merchant Time’
INSIGHT-DRIVEN PRICING DELIVERS MORE to your bottom line and—at the same time—it enhances your price image with the customers that matter most. A deep and prompt understanding of shoppers’ behavioral response to pricing and promotions is essential for merchandising success. KSS Retail solutions deliver the insights that let you price right.
The challenge is accomplishing this while trying to manage a vast number of items, numerous price zones and ad groups, customer segments, vendor cost changes, competitive pressures, and an ever-changing promotional environment. How do you juggle this complexity under enormous time constraints – in what we like to call “merchant time.”?
These challenges limit your ability to develop effective pricing strategies and tactics for both everyday and promotional pricing. Can you eliminate reactionary, tactical price changes without full knowledge of their overall business impact?
PRICE AND PROMOTION OPTIMIZATION FROM KSS RETAIL delivers the answer. It brings much-needed shopper insights to the mission-critical decisions that merchants face daily. In an easy-to-use, familiar, affordable tool, the KSS Retail solution leverages industry-leading, predictive, scientific algorithms to enable you to:
- Set optimal everyday prices to achieve sales and profit objectives
- Model pricing and promotions across Customer Segments
- Model and optimize regular and promotional pricing—and understand their impact on one another
- Understand and implement competitive price strategies that improve your price image—without sacrificing margins
- Understand the impact of cannibalization and category cross-effects
The most effective way to leverage this technology is to integrate the science of optimization with the insight and expertise of your merchandising and leadership teams.
OUR CLIENTS SUCCEED with price optimization because of our superior and proven science. KSS PriceStrat™ is based upon proprietary scientific models developed and owned by KSS Retail, and built specifically for retail. Our science is predictive, adaptive and self-learning, and its accuracy benefits from not only raw historical data, but from the rules and experienced nuances that you introduce.
