“By leveraging current science and services developed by our team of experts – and what we call Price Optimization 2.0 techniques – a retailer can advance their market leadership and profitability.”
Scottsdale, AZ (PRWEB) June 16, 2015
Clear Demand announces new retail strategy services to augment its industry-leading pricing software. The services accelerate the development of strategy and help monitor prices across the enterprise to ensure pricing strategy is being followed. These services are being used by clients of Clear Demand and are available now.
“Retailers may not have the people, budgets or in-house expertise to continually manage and optimize pricing,” said Jim Sills, Ph.D., CEO of Clear Demand. “By leveraging current science and services developed by our team of experts – and what we call Price Optimization 2.0 techniques – a retailer can advance their market leadership and profitability.”
Retail Strategy Services give retailers a sustainable approach to strategy development by:
- Analyzing the enterprise from a hierarchical view of zones, categories, product lines and line-items;
- Analyzing historical sales data and competitive pricing information; and
- Aligning prices with customer demand and competition.
“Ultimately, the retailer gains competitive advantage by accelerating their category strategy, automating pricing consistency and compliance, reducing price management, and aligning prices with customer demand,” said Sills.
Retail Strategy Services Drive Growth and Revenue
Clear Demand’s pricing veterans, including leading data scientists, use advanced modeling techniques to leverage sales data and competitive prices. The services include:
1. Store Clustering Service
a. Analyzes sales data and demand patterns across the retail chain, and recommends store clusters which help align prices with localized demand patterns.
2. Category Role Assignment Service
a. Analyzes sales data and demand patterns in conjunction with relevant metrics (competitive price, gross margin %, promotional activity, etc.) and recommends how to group products by category strategy (traffic generation, turf protection, profit generation, etc.), consistent with customer demand.
3. Product Line Optimization Service
a. Analyzes item-level data for private label gaps, product line relationships (e.g. good, better, best) and competitive price gaps, and recommends changes necessary to maintain product parity and price relationships.
4. Key Value Item (KVI) Service
a. Analyzes sales data to reveal item-level sensitivity to price changes, and recommends prices which align with a number of metrics including competitive prices, profit and revenue.
5. Market Price Index Service
a. Analyzes sales data to reveal price index for each product inside its respective geographic market area (zone); identifies products which are inconsistent with their market-level price index; and recommends appropriate price corrections.
In December 2014, Clear Demand announced Omnichannel Demand Management (ODM), which consists of software and services to analyze cross-channel consumer demand and competitive data (prices & products). These services align with the firm’s commitment to omnichannel retail and best practices for leveraging current pricing science to support strategy through execution.
About Clear Demand
Clear Demand, omnichannel demand management pioneer, serves global retailers with software and services which improve and advance omnichannel retail operations. Clear Demand, based in Scottsdale, Ariz., is privately held and may be reached at info(at)cleardemand(dot)com. For more information about Clear Demand and ODM, visit http://www.cleardemand.com, send e-mail to tmanning(at)cleardemand(dot)com or call 480.699.5889. For media inquiries, contact Roy G. Miller at 903.422.5117.
EDITOR’S NOTE: Additional resources and links are listed.
White Paper. Exercising Retail Pricing Leadership
Industry Article. How Low Should You Go
Current Video. Price Optimization 2.0
Leadership Team. Leadership Team