2024 FMCG Retail Readiness Report: Aligning Price and Promotion Optimization Ambition with Operational Reality

FMCG retailers are aware of the need to make smart, accurate price and promotion decisions more rapidly. However, there is a gap between retailers’ opinions of the value of advanced pricing and promotion practices and their self-ratings of their performance. This spells opportunity.

Price optimization is – and will continue to be, disruptive.

According to our research, 98% of retailers agree that price optimization is important to achieving their pricing and promotion initiatives. Yet, only 27% of grocery respondents have a solution in place to achieve long-term growth targets.

In today’s hyper-competitive environment, a majority of retailers are also planning major investments in tools to improve planning and effective execution of promotions.

Retailers acknowledging this reality will be best positioned to lead in the future.

DemandTec partnered with RSR to conduct independent research among 100+ senior FMCG decision-makers through online research during Q3 2024.

Report Highlights

Understand how to overcome barriers and reap the benefits of a strategic digital transformation. In this report, you’ll learn expert insights, such as:

• The need for a strategic transformative approach to optimize price and promotion strategies today.

• The current state of pricing and promotion initiatives, including differences between retail ‘winners’ and ‘non-winners.’

• The most common barriers to price optimization and how a holistic approach helps overcome them.

• Actionable recommendations to move from a tactical to a transformational pricing and promotion strategy.