Hi there,
There are many success stories related to retailers using
smart-pricing technology and even more number of software solutions
available that claim to replicate those successes. Of these, I've
chosen four companies/solutions based on customer
satisfaction/performance, general reviews, established history, and
customer support.
*SASŪ Regular Price Optimization
http://www.sas.com/industry/retail/merchandise/
SAS offers a comprehensive set of solutions for merchandise planning.
Their price optimization software solution helps the retailer to
maximize revenue by optimally pricing thousands of products in
multiple locations. This solution will provide:
-An intuitive interface that lets merchants, merchant assistants,
category management teams and pricing analysts make timely pricing
decisions that consider operational constraints.
-The ability to predict the impact of proposed price changes on
revenue, unit volume and profitability.
-The ability to estimate the price elasticity of different items or
groups of items based on sales, prices and other causal data.
-Customized reports that show pricing information by product or
location hierarchy with various performance metrics, including sales,
revenue, margin and price changes per market.
For success stories and a list of satisfied customers for this
product, please refer to the link below:
http://www.sas.com/success/industry.html#RetailandDistribution
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*Khimetrics' Retail Pricing Software
http://www.khimetrics.com/retail-pricing-software.html
This software solution was one of the ones featured by Business Week's
article on retail pricing software and well received by several large
companies, including Albertson's. The vice president of the company
stated that in general, Khimetrics' clients see gross profit margin
improvements in the range of 3% to 5% and sales increases of 1% to 3%.
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*DemandTec 4 for Retail
http://www.demandtec.com/products/retail.html
This is another software solution featured Business Week. DemandTec's
clients include Radioshack and Longs Drug Stores. Their pricing
software have the added advantage of allowing collaboration between
retailers and suppliers on issues such as timing of orders. This
allows product pricing to become a larger part of the decision-making
process at the supply chain level.
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*ReTek Pricing Management Software
http://www.retek.com/company/contact.asp
ReTek, mostly known for its demand-forecasting software, has added
capabilities to optimize prices. About 100 retailers use its
demand-forecasting software and approximately 20% of them have adopted
its pricing management software.
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If you would like any clarification regarding the companies listed
above, or have further questions related to the topic, please feel
free to requestion clarification at any time.
Cheers,
Tox-ga |
