|By Business Wire||
|August 14, 2014 03:00 AM EDT||
KSS Retail, from dunnhumby, today unveiled a major update to its industry-leading PriceStrat® price and promotion optimisation solution for merchandising and category management teams. PriceStrat version 5.4 boasts new automation capabilities and advancements in efficiency and flexibility, enabling omnichannel retailers to conduct faster “what-if” planning, and more effectively use pricing and promotions as a competitive advantage in the race to win shopper loyalty.
Retailers of fast-moving consumer goods face challenges setting the right prices in a market where key variables are constantly changing. They need to stay price-competitive, particularly in the product categories where shoppers are most price-sensitive, or risk losing customers, according to industry analysts. Inaccurate or outdated data on supplier costs or competitor prices can have a major business impact, so responding quickly to market fluctuations is a strategic imperative.
With the new Automated Pricing module available now in PriceStrat 5.4, merchants can seamlessly bring in updated costs or competitive data from third-party sources, and then according to predefined pricing policies, execute price changes dynamically. Retailers can also set up rules and alerts that identify when price changes require management review and consideration. This straight-through processing capability eliminates much of the manual work that slows down organisational responsiveness. Automated Pricing also signals managers when prices fall out of compliance with predefined targets. This enables organisations to move away from the traditional practice of re-optimising categories based on a calendar system, and instead rely on their own data on shopper behavior to reveal when adjustments should be made to unlock market potential.
In addition, PriceStrat 5.4 continues to deliver on KSS Retail’s emphasis on productivity and ease of use for pricing teams, with enhancements that make day-to-day pricing and promotion optimisation activities faster and more intuitive. By streamlining tasks and improving efficiency, merchants can focus on making strategic decisions based on data insights. With PriceStrat 5.4, retailers can now:
- Simulate the impact of baseline cost and retail changes more easily during “what-if” planning, and better incorporate actual customer expectations
- Gain clearer visibility into the decisions required to maintain profit and gross margin targets while delivering greater shopper value
- Improve Competitive Price Index scores by replacing legacy “one-size-fits-all” rules with precise, dynamic data sets and rules customised to each price zone or sales channel
- Increase sales of slow-moving items through more accurate forecasting capabilities
- Support a broader range of currency denominations to help global businesses extend into new markets
“As we face tough competition, we are looking forward to taking advantage of the new Automated Pricing functionality in PriceStrat 5.4 to help us respond quickly and deliver competitive pricing to our shoppers,” said Kent Butterfield, Director of Pricing with Associated Food Stores, a regional grocery retail and wholesale chain based in the U.S. “PriceStrat 5.4 will help us not only make faster, more informed decisions about price and promotion across the organisation, but will also help streamline the way we work, ultimately saving us significant time and effort,” Butterfield continued.
“In an increasingly transparent consumer marketplace, shoppers have more access to price information than ever. That’s why the new features in PriceStrat 5.4 are focused on helping retailers accelerate the pace at which they are able to adapt their pricing strategy in response to customer and competitor activity,” said Yael Cosset, CEO of KSS Retail. “With industry-leading science that’s already been proven and tested in some of the world’s top retail organisations, PriceStrat 5.4 takes predictive mining of shopper data to the next level – ultimately enabling organisations to quickly roll out prices and promotions that are highly relevant and tailored to each of their markets, whether online or offline, in any part of the world.”
About KSS Retail
KSS Retail, from dunnhumby, is the premier global provider of price optimisation and shopper insight solutions for the grocery, convenience, chain drug, general and online retail industries. Retailers use KSS Retail software and professional services to better understand their shopper’s needs, and to deliver more effective pricing, promotions and merchandising decisions. KSS Retail clients consistently achieve improved market share, sales and profit growth, and enhanced competitive positioning. Current clients include Kroger, Tesco, 7-Eleven, O’Reilly Auto Parts, BI-LO, Spartan Stores, Sonae, Raley’s, United Supermarkets, ABC Fine Wine and Spirits, and many others. For more information, visit www.KSSRetail.com.
The Internet of Things will greatly expand the opportunities for data collection and new business models driven off of that data. In her session at @ThingsExpo, Esmeralda Swartz, CMO of MetraTech, discussed how for this to be effective you not only need to have infrastructure and operational models capable of utilizing this new phenomenon, but increasingly service providers will need to convince a skeptical public to participate. Get ready to show them the money!
Dec. 28, 2014 03:00 AM EST Reads: 2,059
"Matrix is an ambitious open standard and implementation that's set up to break down the fragmentation problems that exist in IP messaging and VoIP communication," explained John Woolf, Technical Evangelist at Matrix, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 27, 2014 07:45 PM EST Reads: 2,045
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at @ThingsExpo, Robin Raymond, Chief Architect...
Dec. 27, 2014 07:00 PM EST Reads: 2,260
What do a firewall and a fortress have in common? They are no longer strong enough to protect the valuables housed inside. Like the walls of an old fortress, the cracks in the firewall are allowing the bad guys to slip in - unannounced and unnoticed. By the time these thieves get in, the damage is already done and the network is already compromised. Intellectual property is easily slipped out the back door leaving no trace of forced entry. If we want to reign in on these cybercriminals, it's hig...
Dec. 27, 2014 04:00 PM EST Reads: 1,907
We are reaching the end of the beginning with WebRTC, and real systems using this technology have begun to appear. One challenge that faces every WebRTC deployment (in some form or another) is identity management. For example, if you have an existing service – possibly built on a variety of different PaaS/SaaS offerings – and you want to add real-time communications you are faced with a challenge relating to user management, authentication, authorization, and validation. Service providers will w...
Dec. 27, 2014 02:00 PM EST Reads: 1,996
"ElasticBox is an enterprise company that makes it very easy for developers and IT ops to collaborate to develop, build and deploy applications on any cloud - private, public or hybrid," stated Monish Sharma, VP of Customer Success at ElasticBox, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 27, 2014 01:30 PM EST Reads: 1,866
The term culture has had a polarizing effect among DevOps supporters. Some propose that culture change is critical for success with DevOps, but are remiss to define culture. Some talk about a DevOps culture but then reference activities that could lead to culture change and there are those that talk about culture change as a set of behaviors that need to be adopted by those in IT. There is no question that businesses successful in adopting a DevOps mindset have seen departmental culture change, ...
Dec. 27, 2014 12:45 PM EST Reads: 1,747
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at Internet of @ThingsExpo, James Kirkland, Chief Ar...
Dec. 27, 2014 12:30 PM EST Reads: 2,484
WebRTC defines no default signaling protocol, causing fragmentation between WebRTC silos. SIP and XMPP provide possibilities, but come with considerable complexity and are not designed for use in a web environment. In his session at @ThingsExpo, Matthew Hodgson, technical co-founder of the Matrix.org, discussed how Matrix is a new non-profit Open Source Project that defines both a new HTTP-based standard for VoIP & IM signaling and provides reference implementations.
Dec. 27, 2014 12:30 PM EST Reads: 1,973
The 4th International DevOps Summit, co-located with16th International Cloud Expo – being held June 9-11, 2015, at the Javits Center in New York City, NY – announces that its Call for Papers is now open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's large...
Dec. 27, 2014 12:00 PM EST Reads: 2,716
DevOps Summit 2015 New York, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete...
Dec. 27, 2014 12:00 PM EST Reads: 1,817
The definition of IoT is not new, in fact it’s been around for over a decade. What has changed is the public's awareness that the technology we use on a daily basis has caught up on the vision of an always on, always connected world. If you look into the details of what comprises the IoT, you’ll see that it includes everything from cloud computing, Big Data analytics, “Things,” Web communication, applications, network, storage, etc. It is essentially including everything connected online from ha...
Dec. 27, 2014 12:00 PM EST Reads: 2,398
The security devil is always in the details of the attack: the ones you've endured, the ones you prepare yourself to fend off, and the ones that, you fear, will catch you completely unaware and defenseless. The Internet of Things (IoT) is nothing if not an endless proliferation of details. It's the vision of a world in which continuous Internet connectivity and addressability is embedded into a growing range of human artifacts, into the natural world, and even into our smartphones, appliances, a...
Dec. 27, 2014 11:30 AM EST Reads: 2,561
"SAP had made a big transition into the cloud as we believe it has significant value for our customers, drives innovation and is easy to consume. When you look at the SAP portfolio, SAP HANA is the underlying platform and it powers all of our platforms and all of our analytics," explained Thorsten Leiduck, VP ISVs & Digital Commerce at SAP, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 27, 2014 11:00 AM EST Reads: 1,975
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
Dec. 27, 2014 11:00 AM EST Reads: 7,194