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Promotion Optimization Institute Study finds that AI, RGM, and TPx are helping CPG Manufacturers Overcome Price and Promotion Challenges

The 2019 POI Trade Promotion best in class vendors include Accenture, Acumen, Blacksmith, Cornerstone Capabilities, Data Ventures, Exceedra, Kantar, Periscope by McKinsey, SAP, and Visualfabriq.


News provided by

POI

Sep 16, 2019, 07:00 ET

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WYKOFF, N.J., Sept. 16, 2019 /PRNewswire-PRWeb/ -- The Promotion Optimization Institute (POI), the leading resource for trade marketing and merchandising executives, today released its 2019 POI TPx Vendor Panorama, finding that more CPG manufacturers are overcoming price and promotion challenges by implementing technology solutions that incorporate artificial intelligence (AI), revenue growth management (RGM), and trade promotion optimization (TPx). The panorama also found a 20% improvement in the amount of surveyed CPG manufacturers who report struggling to have retailer aligned promotions at the store level, down to 70% in 2019 from 90% in 2018.

"With the shifting CPG landscape, we firmly believe that the strengths, analytical expertise and partnerships between retailers and manufacturers need to be fully optimized to seize opportunities, while stemming the negative impact of the industry change," said Pam Brown, Chief Commercial Officer of the POI. "There will always be winners and losers as paradigms shift. The winners will be the ones who lay new strategy, partner, and think differently. This TPx report will help organizations understand industry trends, TPx vendor capabilities, plus help develop a path forward for RFP vendor selection processes."

“With the shifting CPG landscape, we firmly believe that the strengths, analytical expertise and partnerships between retailers and manufacturers need to be fully optimized to seize opportunities, while stemming the negative impact of the industry change,” said Pam Brown.

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The POI analyzed 11 best-in-class vendors across 15 functional areas (including AI, Data, and Advanced Analytics) that are helping retailers and consumer goods executives manage trade promotions effectively. The 2019 POI Trade Promotion best-in-class vendors include: Accenture, Acumen, Blacksmith, Cornerstone Capabilities, Data Ventures, Exceedra, Kantar, Periscope by McKinsey, SAP, and Visualfabriq. Blackstone and Cornerstone cracked the best in class list for first time in 2019.

The TPx Vendor Panorama builds upon the research of the POI 2019 Retail Execution Vendor Panorama. The two panoramas are companion documents -- the Retail Execution Panorama evaluates the in-store component of the promotion cycle, while the TPx Vendor Panorama focuses on headquarters. Both panoramas are designed to help POI members improve their ability to manage trade promotions, enhance trading partner relationships, and drive profitable growth.

Key Strategic Insights from the POI TPx Vendor Panorama

  • While the consumer needs to be the focus of TPx, many retailers and organizations continue to structure themselves on old paradigms that are internally focused and broken.
  • It is critical that organizations prioritize data management and assign an owner for this critical management component.
  • Companies are struggling to access, cleanse, harmonize, and hub data. The purchase power of Millennials, who are digitally engaged, is surpassing Baby Boomers. In order to offer consumers personalized offers, it is critical that data is clean and accessible.
  • 76% of companies continue to have data challenges with foundational data.
  • Companies that are satisfied with their promotions are able to bring external data into the TPx process.
  • Many TPx offerings still lack data management which is a key differentiator in the quality of promotional outcomes.
  • TPx is becoming a subset of the emerging revenue growth management (RGM) initiatives.
  • CPG companies spend between 11-27% of revenues on trade promotions.
  • AI is no longer bleeding edge and should be built into every retailer, manufacturer, technology vendor, and consulting partner's strategy.
  • 70% of survey respondents agree that their companies are struggling to have retailer aligned promotions at the store level.

POI TPx Recommendations include:

  • Enable all trade promotion related processes with technology.
  • Establish an enterprise data and analytics owner that is responsible for data management, enterprise analytics and reporting, executive dashboards, and generating critical outputs for the common denominators.
  • Prioritize data acquisition and sharing as a top priority in 2020.
  • Evaluate systems and processes that will make the planning cycle more efficient and less burdensome. 67% of survey respondents reported the planning process is burdensome.

A breakdown of all of POI's recommendations are in the 2019 POI TPx Vendor Panorama.

Vendor Evaluation for POI TPx Best-In-Class
In the 2019 POI Panorama, solutions from 25 vendors were evaluated, including additional "localized" solutions that focus on specific geographic areas such as Europe or North America. The following 18 capabilities were analyzed and compared: company viability, geographic strategy, market responsiveness and track record, deployment capabilities, market understanding, vertical/industry strategy, partner leverage, company vision, product aptness and flexibility, delivery flexibility, TPM functionality, TPO completeness, user experience, analytical capabilities, product vision, and configurability.

"For more than 10 years, Promotion Optimization Institute has been delivering insights and value increasing numbers of consumer goods executives around the globe. This year's TPx Vendor Panorama report raises the bar once again, leading by example, and driving advancement for sales, marketing, and merchandising executives at leading brands and banners in constantly changing times," said Michael Kantor, CEO and Founder, POI.

About the Promotion Optimization Institute
POI brings together manufacturers, retailers, solution providers, analysts, academics and other industry leaders. Members of the POI share cross-functional best practices in both structured and informal settings. Additionally, members benefit through our industry alliances, the Certified Collaborative Marketer (CCM) curriculum and certification, industry leadership events, and the Promotional Collaborative Capability Matrix (PCCM). POI aims to instill a financial and metrics-based discipline not typically found with other trade groups.

The goal of our innovative approach is collaborative promotion optimization. The focus is on the customer/shopper through sales, marketing, and merchandising strategies. POI is based in Wyckoff, New Jersey. To learn more about the POI, including how to participate in research, how to register to attend or sponsor events, and how to engage with leaders on the CCM, visit http://www.poinstitute.com/ or email Mkantor (at) poinstitute (dot) com.

SOURCE POI

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