Understand the long-term impact of promotions
Baskets containing promoted items can be amazingly informative. If unusually high-profit baskets tend to contain certain promoted items, then the promotion increased short-term profitability. If predominately low-profit, cherry picker baskets contain a promoted item, the promotion failed to have an immediate positive effect on profit.KSS Retail can apply market basket analysis to help you know if a promotion drove traffic, whether the number of baskets attenuated as the promotion grew old or was discontinued, and how basket composition changed over time. This analysis considers promotion type (e.g., flyer, in-store display) as well as depth of price reduction. You can then take action by incorporating learnings into PriceStrat’s demand models and promotional components, or into any other process you employ for these purposes.
Use shopping behavior segmentation & analysis to create tailored offers
This promotion software helps you design sets of offers that are collectively more effective than each individual offer taken alone. This could involve simultaneous offers on sets of similar items for some consumers, and offers that span many purchase categories for other consumers. We have developed a supervised learning-based system which forecasts from past shopping behavior how receptive consumers will likely be to redeem offers for new items.
With Promotion Analytics you can:
- Develop promotions that enhance short-term profitability
- Analyze the longer-term effects of a promotion
- Develop tailored offers, including sets of offers that are collectively more effective than each individual offer taken alone