So much of what is being said and written about retail right now focuses on the unprecedented challenges – a rapidly evolving landscape, unpredictable shopper and competitive behaviors, the need for agility beyond what’s ever been imaginable in pre-pandemic times, and the importance of a channel-aware DNA as shoppers rapidly embrace online channels. But I’m a big believer that change represents opportunity, and I’ve had the privilege of seeing firsthand how innovative retailers who embrace proven AI technologies, including lifecycle pricing, separate themselves from competitors and engage their shoppers. Most importantly, they leverage automated data-driven capabilities to thread the needle and deliver the elusive win-win: prices that resonate with shoppers on items that are most important to them, while surgically – and safely – recovering margins elsewhere in the assortment to sustain healthy business results.
One month into my new role as DemandTec CEO and I couldn’t be more excited about the future, both for the retail industry we serve and for our team here at the company. In our mission to help leading retailers generate optimal prices, promotions, and markdowns to balance shoppers needs the retailer’s financial and competitive objectives, we have crafted a strong roadmap that cements our longstanding reputation as the industry innovation leader. With an amazing team of retail technology experts, many two decades of experience, we serve as trusted long-time advisors to our retailers and their CPG partners worldwide as they continually drive additional value for their business from @DemandTec by Acoustic.
Longtime DemandTec observers know that we helped pioneer the AI-based data science approach to full lifecycle pricing, including price, promotion, and markdown optimization. Newer observers have noticed our leadership recognition from the RIS Software Leaderboard, Constellation Research, and many others. The path to our next-generation autonomous pricing and promotions, is just a few months away, as well as major new features in our trading collaboration platform.
Retailers’ wants are very clear: they are seeking unified insights across the full product pricing lifecycle to give them greater agility and competitiveness in keeping pace with fast-changing shopper, competitor, and market conditions. Through our daily, in-depth discussions with retailers in every sector worldwide, regular engagement with our Customer Advisory Board, and lively conversations with industry analysts and gurus, we know what’s important to retail innovators:
- Channel-Specific Intelligence
- Advanced Competitive Insights
- Localized Shopper Demand Analytics
- Dynamic and Real-time Execution
- Customer-Centric Pricing
- Visual and Understandable Science
- Hands-off-the-wheel Automation and Decision making
We’ve made aggressive investments to sharpen our game in customer support, development, and data science. We’ve crafted a clear strategic roadmap that we are communicating proactively to customers. We’ve delivered rapid, measurable ROI to retailers of all sizes. We’ve enabled our customers to seamlessly adapt to shopper shifts to online channels with channel-aware price, promotion, and markdown data science.
We operate our platform in a leading scalable, secure cloud infrastructure. And our team is energized and ready to delight our customers with in-depth strategic relationships that span years and, in many cases, more than a decade.
As a newcomer to this role, but as a longtime retail industry executive with deep experience in the retail pricing domain, I’ve seen tremendous enthusiasm from colleagues, customers, and analysts excited by DemandTec’s focus on solving the next generation needs of retailers. With each passing day, my admiration for the caliber of the team grows, as does my appreciation for just how deeply the DemandTec brand affinity extends in the retail community.
It’s immensely gratifying to lead a team that is making a proven difference for retailers who step forward in asserting themselves in their chosen markets with a trusted technology partner. I invite you to personally reach out to discuss how we can productively partner to address your business goals. I look forward to pursuing the exciting journey ahead!