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
DevOps tends to focus on the relationship between Dev and Ops, putting an emphasis on the ops and application infrastructure. But that’s changing with microservices architectures. In her session at DevOps Summit, Lori MacVittie, Evangelist for F5 Networks, will focus on how microservices are changing the underlying architectures needed to scale, secure and deliver applications based on highly distributed (micro) services and why that means an expansion into “the network” for DevOps.
“DevOps is really about the business. The business is under pressure today, competitively in the marketplace to respond to the expectations of the customer. The business is driving IT and the problem is that IT isn't responding fast enough," explained Mark Levy, Senior Product Marketing Manager at Serena Software, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The speed of software changes in growing and large scale rapid-paced DevOps environments presents a challenge for continuous testing. Many organizations struggle to get this right. Practices that work for small scale continuous testing may not be sufficient as the requirements grow. In his session at DevOps Summit, Marc Hornbeek, Sr. Solutions Architect of DevOps continuous test solutions at Spirent Communications, explained the best practices of continuous testing at high scale, which is rele...
SYS-CON Events announced today that Catchpoint Systems, Inc., a provider of innovative web and infrastructure monitoring solutions, has been named “Silver Sponsor” of SYS-CON's DevOps Summit at 18th Cloud Expo New York, which will take place June 7-9, 2016, at the Javits Center in New York City, NY. Catchpoint is a leading Digital Performance Analytics company that provides unparalleled insight into customer-critical services to help consistently deliver an amazing customer experience. Designed ...
Internet of @ThingsExpo, taking place June 6-8, 2017 at the Javits Center in New York City, New York, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @ThingsExpo New York Call for Papers is now open.
Providing the needed data for application development and testing is a huge headache for most organizations. The problems are often the same across companies - speed, quality, cost, and control. Provisioning data can take days or weeks, every time a refresh is required. Using dummy data leads to quality problems. Creating physical copies of large data sets and sending them to distributed teams of developers eats up expensive storage and bandwidth resources. And, all of these copies proliferating...
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, discussed the best practices that will ensure a successful smart city journey.
Every successful software product evolves from an idea to an enterprise system. Notably, the same way is passed by the product owner's company. In his session at 20th Cloud Expo, Oleg Lola, CEO of MobiDev, will provide a generalized overview of the evolution of a software product, the product owner, the needs that arise at various stages of this process, and the value brought by a software development partner to the product owner as a response to these needs.
Containers have changed the mind of IT in DevOps. They enable developers to work with dev, test, stage and production environments identically. Containers provide the right abstraction for microservices and many cloud platforms have integrated them into deployment pipelines. DevOps and Containers together help companies to achieve their business goals faster and more effectively. In his session at DevOps Summit, Ruslan Synytsky, CEO and Co-founder of Jelastic, reviewed the current landscape of D...
Hardware virtualization and cloud computing allowed us to increase resource utilization and increase our flexibility to respond to business demand. Docker Containers are the next quantum leap - Are they?! Databases always represented an additional set of challenges unique to running workloads requiring a maximum of I/O, network, CPU resources combined with data locality.
"We provide DevOps solutions. We also partner with some key players in the DevOps space and we use the technology that we partner with to engineer custom solutions for different organizations," stated Himanshu Chhetri, CTO of Addteq, in this SYS-CON.tv interview at DevOps at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
@ThingsExpo has been named the ‘Top WebRTC Influencer' by iTrend. iTrend processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @ThingsExpo ranked as the number one ‘WebRTC Influencer' followed by @DevOpsSummit at 55th.
In 2014, Amazon announced a new form of compute called Lambda. We didn't know it at the time, but this represented a fundamental shift in what we expect from cloud computing. Now, all of the major cloud computing vendors want to take part in this disruptive technology. In his session at 20th Cloud Expo, John Jelinek IV, a web developer at Linux Academy, will discuss why major players like AWS, Microsoft Azure, IBM Bluemix, and Google Cloud Platform are all trying to sidestep VMs and containers...
SYS-CON Events announced today that Enzu will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive ad...
SYS-CON Events announced today that MobiDev, a client-oriented software development company, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex softw...