Strategic services ensure quick and sure deployment
When you select Clear Demand, you have complete confidence that the software installation, configuration and data management tasks will be handled in a timely and professional manner.
Retailers have some existing processes and systems in place, but they still require strategic analysis to leverage those investments and deliver demonstrable value. The path to value begins with a highly-refined analysis of the retailer’s existing data set. Value is realized in terms of price image, customer loyalty and margins.
Retail strategy services leverage advanced data analytics and machine learning:
Analyze sales data and demand patterns across the retail chain and recommend store clusters to align prices with localized demand patterns. Data-driven process reveals which of your stores should share common pricing. Includes a benefit analysis that quantifies the expected increase in profit and revenue.
Benefit: more consistent, rational pricing.
Category Role Assignment
Analyze sales data and demand patterns in conjunction with relevant metrics (competitive price, gross margin %, promotional activity, etc.). Recommend product groupings by category strategy (traffic generation, turf protection, profit generation, etc.), consistent with customer demand.
Benefit: Improved category performance.
Key Value Item (KVI) Identification
Analyze sales data to reveal item-level sensitivity to price changes. Recommend prices to align with relevant metrics, including competitive prices, profit and revenue. Identify Known Value Items within your assortment and create clusters or groupings based on their influence on price image and shopper loyalty. Define rules for each group. Key image items are identified with detail on their margin impact.
Benefit: More consistent, rational pricing.
Product Line Optimization
Analyze item-level data for private label gaps, product line relationships (e.g. good, better, best) and competitive price gaps. Recommend changes necessary to maintain product parity and price relationships.
Benefit: Trusted, well-structured prices.
Market Price Indexing
Analyze sales data to reveal price index for each product inside its respective geographic market area (zone). Flag products which are inconsistent with their market-level price index and recommend appropriate price corrections.
Benefit: Improved price image.
Competitor Sensitivity Matrix
Access your competitors’ regular and promotional price history, cost and store distances to understand their influence on price elasticity, lift and cannibalization data that is analyzed using regression analysis. Clear Demand Competitive Pricing is a standalone solution so retailers can be more surgical and timely in their competitive pricing strategies and yet integrate with existing pricing systems.
Benefit: Maintain overall margins.
Clear Demand Merchandise Analytics is a standalone solution retailers can use to quickly identify SKU-level opportunities for revenue, margin and competitive price advantage and yet integrate with existing pricing systems.
Benefit: Identify opportunities for revenue growth.