Overview
When it comes to price, perception matters, and the customer’s price perception of the retailer is as important as the price itself. Learn how we helped Conad Nord, an Italian retailer, use DemandTec Price Optimization to be more competitive, targeted and agile with their pricing while also improving margins.
Solution
Conad Nord struggled to be competitive on price with other retailers in the market and was also constrained by manual implementation processes. Nearly three dozen people developed manual price recommendations, but they could only re-price 25% of their assortment each week, making them unable to effectively respond to competitors.
They needed automated, AI-powered pricing processes to achieve their business goals and help them be more proactive, not reactive, to competitive challenges.
Results
Conad Nord set out to improve price competitiveness, leveraging AI and data science, to achieve strategic price optimization while also supporting store zones and category management profitability capabilities.
They partnered with DemandTec on a Price Optimization pilot, covering six product categories across a subset of their hypermarkets. DemandTec’s application was implemented across 10,000 SKUs, including grocery, fresh, frozen and general merchandise.
About
A pioneer in retail pricing, promotions and markdown technology for more than 20 years, DemandTec partners with top retailers and their suppliers globally to generate profitable revenue growth.
