Tesco Rolls Out KSS Retail's PriceStrat in UK

In the UK, Tesco has rolled out PriceStrat software created by US company KSS Retail, across the organisation, offering buyers and category planners analytical tools to help plan consumer offers and assess their likely impact.

Price modelling and customer insight firm KSS Retail is part of dunnhumby - the data specialist behind the Tesco Clubcard loyalty scheme. PriceStrat, which was launched in the US last year, gives retailers insights on shoppers' responses to different promotional offers. Through 'what if' scenario planning, managers can use the tool to test various offer mechanics and variables, as well as display and space options, before promotions are executed. Promotions can then be tailored by store type and geography to maximise relevance.

Tesco has already begun to extend PriceStrat to other regions - initially Eastern Europe - and the retail giant is collaborating with KSS Retail and dunnhumby on PriceStrat enhancements, including its ability to better predict customer response to promotions across the total store.

John Scouler, Commercial Director at Tesco UK, comments: 'With the forecasting and analytics capabilities available in PriceStrat, we can understand - based on what our customers tell us - where it's most important to offer promotions or reduce prices. We will continue to rely on the tool to help us provide shoppers with stable, logical and competitive pricing, as well as the most compelling offers possible.'

Web sites: www.tesco.com , www.kssretail.com and www.dunnhumby .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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