Thanks to digitization of retail and the explosion of me-too products on store shelves, aggressive discounts & offers have now become a prevalent phenomenon in retail. Merchandisers must run science-based pricing and promotions to drive long-term growth and profitability.
Promo$mart synthesizes predictive promotion response models with a thoughtfully designed intuitive workflow engine enabling all stakeholders to collaborate in designing impactful, profitable promos. The key features of the solution are :
- Promo design and approval mechanism
- Response prediction and simulation to choose best price point and marketing support
- Marketing resource allocation engine
- Post promo reporting
- Promo suggestions generation engine
- Embedded intelligent chatbot to help navigate application and crunch numbers on demand
Promo$mart is an easy to deploy plug-and-play solution that starts generating value immediately. It has brought in gains of more than $4.5 M in the bottom line margin for specialty retailers in the US through promo optimization and adding millions more to the bottom line continuously in the ongoing engagements.