Welcome!

News Feed Item

KSS Retail Releases Advanced Version of PriceStrat®, Improving Flexibility and Control over Pricing and Promotions Optimization

KSS Retail, a dunnhumby company, today released a major update to its industry-leading PriceStrat® price and promotion optimization solution. With a strong focus on driving improved return on investment (ROI) and operational efficiencies, particularly through exponentially more efficient promotions-planning processes, PriceStrat Version 5.3 marks a significant upgrade to its solution for merchandising, marketing and category management teams at consumer goods retailers.

Much of the functionality in this new PriceStrat release came out of months of strategic development and rigorous testing in close partnership with clients including The Kroger Co., the largest grocery retailer in the U.S. PriceStrat enables Kroger buyers and category managers to conduct what-if scenario planning and make smart, shopper-centric decisions about pricing and promotions.

Key innovations in PriceStrat V5.3 include advanced capabilities to support promotions planning; operational enhancements to streamline workflow, including automation of temporary price reductions (TPRs) and other “pass-through” promotions; greater controls over price zones and cost configurations; and simplified rules-management capabilities that provide retailers with greater flexibility and precision when developing and executing their pricing strategy.

What’s Inside: PriceStrat V5.3 Highlights

Taking a closer look at PriceStrat V5.3, following are some of the key ways the tool empowers retailers:

  • A new promotions optimization panel enables users to define promotions and interact with a product’s costs and price components more efficiently
  • More simplified simulation capabilities enable retailers to quickly see the impact of potential promotions and avoid making choices that might negatively affect overall category performance
  • Enhancements to product attributes and custom groups enable retailers to manage and optimize the pricing of important product sets with even greater precision
  • Updated workflow capabilities enable retailers to prioritize pricing rules and manage rules violations so they can achieve the optimal lift
  • New import and export capabilities enable pricing teams to reduce manual work processes and interact with external data sources more easily
  • Science enhancements enable retailers to more accurately predict outcomes in situations where they have limited data
  • Infrastructure improvements provide even greater reliability and performance for retailers with very large data sets
  • Enhanced reporting capabilities provide even greater visibility into forecasts versus actual results—insights that retailers can turn into action.

“It’s important for Kroger to deliver the right prices and promotions for our shoppers, as part of our ‘customer 1st ’ strategy,” said Rich Stern, Vice President, Retail Insight and Strategy, The Kroger Co. “PriceStrat is just one of the tools Kroger is implementing to replace intuition with actual data, enabling better decisions about price and promotion across the organization. We look forward to continuing our partnership with the PriceStrat product development team.”

“The release of PriceStrat V5.3 demonstrates KSS Retail’s ongoing commitment to product innovation and to remaining an industry leader in science-driven price and promotion optimization solutions,” said Yael Cosset, CEO of KSS Retail. “We’re confident that this new release will drive even higher ROI for retailers, allowing them to execute at speed while maintaining highly precise optimization and flexibility in pricing that hasn’t previously been possible. Furthermore, V5.3 continues our focus on helping retailers ultimately do what’s right for their customers, so they can build loyalty over the long term,” Cosset added.

About KSS Retail

KSS Retail, a dunnhumby company, is the premier global provider of price optimization and shopper insight solutions for the grocery, convenience, chain drug, general and online retail industries. Retailers use KSS Retail software and professional services to better understand their shopper’s needs, and to deliver more effective pricing, promotions and merchandising decisions. KSS Retail clients consistently achieve improved market share, sales and profit growth, and enhanced competitive positioning. Current clients include 7-Eleven, Tesco, O’Reilly Auto Parts, BI-LO, Spartan Stores, Sonae, Raley’s, United Supermarkets, ABC Fine Wine and Spirits, and many others. For more information, visit www.KSSRetail.com.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
"Peak 10 is a hybrid infrastructure provider across the nation. We are in the thick of things when it comes to hybrid IT," explained Michael Fuhrman, Chief Technology Officer at Peak 10, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We were founded in 2003 and the way we were founded was about good backup and good disaster recovery for our clients, and for the last 20 years we've been pretty consistent with that," noted Marc Malafronte, Territory Manager at StorageCraft, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
DevOps at Cloud Expo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to w...
Internet of @ThingsExpo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devic...
"The Striim platform is a full end-to-end streaming integration and analytics platform that is middleware that covers a lot of different use cases," explained Steve Wilkes, Founder and CTO at Striim, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We are focused on SAP running in the clouds, to make this super easy because we believe in the tremendous value of those powerful worlds - SAP and the cloud," explained Frank Stienhans, CTO of Ocean9, Inc., in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We are still a relatively small software house and we are focusing on certain industries like FinTech, med tech, energy and utilities. We help our customers with their digital transformation," noted Piotr Stawinski, Founder and CEO of EARP Integration, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"At the keynote this morning we spoke about the value proposition of Nutanix, of having a DevOps culture and a mindset, and the business outcomes of achieving agility and scale, which everybody here is trying to accomplish," noted Mark Lavi, DevOps Solution Architect at Nutanix, in this SYS-CON.tv interview at @DevOpsSummit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"DivvyCloud as a company set out to help customers automate solutions to the most common cloud problems," noted Jeremy Snyder, VP of Business Development at DivvyCloud, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
DX World EXPO, LLC., a Lighthouse Point, Florida-based startup trade show producer and the creator of "DXWorldEXPO® - Digital Transformation Conference & Expo" has announced its executive management team. The team is headed by Levent Selamoglu, who has been named CEO. "Now is the time for a truly global DX event, to bring together the leading minds from the technology world in a conversation about Digital Transformation," he said in making the announcement.
21st International Cloud Expo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Me...
Kubernetes is an open source system for automating deployment, scaling, and management of containerized applications. Kubernetes was originally built by Google, leveraging years of experience with managing container workloads, and is now a Cloud Native Compute Foundation (CNCF) project. Kubernetes has been widely adopted by the community, supported on all major public and private cloud providers, and is gaining rapid adoption in enterprises. However, Kubernetes may seem intimidating and complex ...
SYS-CON Events announced today that DXWorldExpo has been named “Global Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Digital Transformation is the key issue driving the global enterprise IT business. Digital Transformation is most prominent among Global 2000 enterprises and government institutions.
SYS-CON Events announced today that Datera, that offers a radically new data management architecture, has been named "Exhibitor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Datera is transforming the traditional datacenter model through modern cloud simplicity. The technology industry is at another major inflection point. The rise of mobile, the Internet of Things, data storage and Big...
SYS-CON Events announced today that Calligo, an innovative cloud service provider offering mid-sized companies the highest levels of data privacy and security, has been named "Bronze Sponsor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Calligo offers unparalleled application performance guarantees, commercial flexibility and a personalised support service from its globally located cloud plat...