Product and Price Analytics
Our products can help you more effectively made product selection, positioning, pricing and sale item decisions, leading to more robust and reliable sales forcasting and planning.
Solutions to make product and sale item decisions at multiple levels including store, region, state, and others.
- Forecast item and category movement based on the behavior of previous sales/events.
- Recommend the optimal mix of products to stock at store level.
- Decide product mix for sales events – by managing drivers such as over or under stock of inventory or margin expectations. Our models can help the companies understand the impact of the selected product mix on operations, inventory management and profit.
These solutions include a group of powerful of tools to support pricing decisions and help managers balance profit and unit volume.
- Analytical tools to guide decision making when balancing the need to move the most units possible with the need to also make as much profit as possible.
- Price optimization tools designed to calculate the perfect price to balance unit sales and profit.
- Discounting optimization – It’s often the case that for some products, the discounts are unnecessarily deep, or alternatively not deep enough, to obtain the desired product movement and revenue. Our solution will help managers determine the best discount that strikes a balance between product movement and margin retention.
Solutions designed to assess and manage co-movement behavior.
- Analytical reports that tell you which products will co-move during the normal business and sales event. These tools support store-level decision for instance, a store can display items that co-move close together in the store or put items that co-move on a slight discount to drive more volume.
- With this information, companies can work with vendors whose products co-move to help sponsor events.
When the products go on sale, it’s possible that customers buy those products and substitute the sale product for another product they may have purchased. When this happens, companies can drive volume but end up with lower profits.
- Tools to forecast the results of putting items on sale on the volume of like non-sale items and the impact to overall profit.
- Improved decision-making on which products to put on sale.
- Tools to analyze the cost of cannibalization.