Softlines retailers now benefit from DemandTec Analytical Solutions
DemandTec Inc, the collaborative optimisation network for retailers and consumer products companies, announced the availability of advanced merchandising and marketing solutions for retailers selling apparel, footwear, and short lifecycle merchandise.
"Like never before, retailers can apply advanced analytics and shopper insights to their short lifecycle merchandise," said Renaud Houri, Vice President and General Manager EMEA at DemandTec. "Lifecycle Pricing for Softlines uses the most advanced science available, allowing for deeper intelligence on volatile merchandise, and providing a multi-dimensional forecast to better support shopper-centricity at store and item levels."
DemandTec now offers three solutions particularly suited for softlines retailers:
DemandTec Lifecycle Price Optimization :
The premier solution in the industry for leveraging consumer demand when making pricing decisions across a product's lifecycle. A new software service, Lifecycle Pricing for Softlines,complements Everyday Price Optimization, Markdown Optimization, and Promotion Optimization, the existing software services used by and built for retailers to price their fast moving consumer goods.
DemandTec End-to-End Promotion Management:
A complete solution which enables softlines retailers to effectively plan and execute highly versioned advertisements across media channels. Merchants and planners can manage the entire promotions process, from collaborative promotion planning to event development, in-store execution and post-event analysis.
DemandTec Shopper Insights:
An advanced solution giving retailers clear visibility into behavior at the shopper and segment levels in order to help merchants make better product decisions that drive increased penetration and buy rate across the entire store.
Three additional DemandTec services now bolster these solutions:
- Rebuy Optimization - Identifies optimal item quantities in each store to rebuy for volatile merchandise by providing recommendations at the SKU level. The software service uses pattern recognition technology to provide recommendations for stores that did not previously own an item, accurately projecting demand for new stores that are patterned after stores with sales history.
- Size Profiling and Pack Optimization - Optimises store-level size distribution based on shopper demand and determines optimal pre-pack configurations to meet size demand by store.
- Store Cluster Analysis - Uses advanced analysis to identify store clusters and the relationships between variables among the clusters.
The service also defines the fewest number of store clusters which reflect true drivers of demand to capture real business value for increasing profitability and reducing markdowns.
DemandTec connects more than 340 retailers and consumer products companies, providing common tools to transact, interact, and collaborate on core merchandising and marketing activities. DemandTec's services enable customers to achieve their sales volume, revenue, shopper loyalty, and profitability objectives.