Why retail promotions management is so important
Increasing and underperforming trade budgets are draining profitability of retailers across Europe. Application of strategy and analytics can lead to significant profit increase through promo optimization.
During years of experience with retail promo management we have identified a number of common issues related to promo management:
- Need for data-driven promo planning
- Complexity of the promo planning process
- Ineffective promo methodologies and random promo mechanics selection
- Lack or ineffective forecasting tools
- Lack of ROI optimization and difficulty of measuring and management of other performance KPIs
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We have the solution - Retail Growth Toolkit
Retail Growth Toolkit is addressing the key issues and fits into the typical promo management and planning process. By integrating multiple data sources and through an AI forecasting algorithms it supports all key analytical areas. Moreover, a workflow module facilitates cooperation between multiple departments during the promo planning process.
What are the business and operational benefits from RGT implementation
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What are technical and data integation benefits
- Ease of implementation (the box option)
- Integration of several data sources
- One source of analytical data for all departments
- Customizable interface
- Easy data and dictionaries management and maintenance
- Traceability and ease of the audit of data
- Cloud solution thus ease of scalability and performance management
- AI solution in the forecasts thus self-learning based on growing sets of data
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