KSS Retail Launches Pricing and Promotions Tools

In the US, dunnhumby-owned price modeling and customer insight firm KSS Retail has introduced two features to help merchandising and category management teams integrate customer science and big data analytics into their pricing and promotions initiatives.

The firm's Retail Shopper Insights platform delivers shopper feedback while measuring and modeling purchasing habits; and its PriceStrat Analyzer solution enables retailers to tap into their data for decisions about pricing and promotions.

The first new tool, 'Promotions Analytics', examines the impact of promotions on product or category metrics, such as volume, revenue and profit; along with their effect on overall market basked purchasing patterns. The feature can also be used to show merchants how to target promotions and create more personalized offers. Secondly, the new 'PriceStrat Rapid Reviewer' offers a set of visual web-based dashboards, to help retailers streamline and simplify the process of making everyday pricing decisions based on customer behaviour.

CEO Yael Cosset (pictured) comments: 'By understanding and anticipating the impact of their decisions on their key customers, retailers will be able to improve gross margins while improving logic at the shelf, increasing relevance, and boosting customer loyalty. Based on a deep understanding of our clients' pricing and promotion strategies, these new solutions bring to market customer insights not available today, enabling our clients to focus on delivering value for their customers.'

Web site: www.kssretail.com .

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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