PriceStrat: Industry-leading retail customer and demand science
Knowing how shoppers will respond to pricing and promotions is essential to improving your bottom line and solidifying your price image with the customers that matter most. Price and Promotion Optimization from KSS Retail from dunnhumby lets you price right by bringing much-needed shopper insights to the mission-critical decisions you face daily.
Our pricing software and solutions help you accomplish this complex task under enormous time constraints as you manage a vast number of items, numerous price zones and ad groups, customer segments, vendor cost changes, competitive pressures and an ever-changing promotional environment.
Predictive scientific modeling produces effective pricing strategies
The KSS Retail PriceStrat™ from dunnhumby solution provides invaluable what-if insight into merchandising scenarios, enabling you to develop effective pricing strategies and tactics for everyday, lifecycle and promotional pricing–eliminating reactionary, tactical price changes without full knowledge of their overall business impact.
This easy-to-use, familiar, affordable technology allows you to integrate the insight and expertise of your merchandising and leadership teams with proprietary scientific models that use industry-leading, predictive, scientific algorithms developed specifically for retail. Our science is predictive, adaptive and self-learning, and its accuracy benefits from raw historical data, as well as rules and experienced nuances that you introduce.
With KSS PriceStrat you can:
- Set optimal everyday prices to achieve sales and profit objectives
- Model pricing and promotions across Customer Segments
- Model and optimize regular and promotional pricing—and understand their impact on one another
- Understand and more effectively use/implement lifecycle pricing
- Tailor pricing and promotions to assist with revenue management
- Understand and implement competitive price strategies that improve your price image—without sacrificing margins
- Use rules pricing to provide pre-defined responses to changing costs or competitive conditions
- Understand the impact of cannibalization and category cross-effects