Welcome!

News Feed Item

KSS Retail Introduces New Automation Solution to Enable Real-Time Price Optimization

KSS Retail, from dunnhumby, today unveiled a major update to its industry-leading PriceStrat® price and promotion optimization solution for merchandising and category management teams. PriceStrat version 5.4 boasts new automation capabilities and advancements in efficiency and flexibility, enabling omnichannel retailers to conduct faster “what-if” planning, and more effectively use pricing and promotions as a competitive advantage in the race to win shopper loyalty.

Retailers of fast-moving consumer goods face challenges setting the right prices in a market where key variables are constantly changing. They need to stay price-competitive, particularly in the product categories where shoppers are most price-sensitive, or risk losing customers, according to industry analysts. Inaccurate or outdated data on supplier costs or competitor prices can have a major business impact, so responding quickly to market fluctuations is a strategic imperative.

With the new Automated Pricing module available now in PriceStrat 5.4, merchants can seamlessly bring in updated costs or competitive data from third-party sources, and then according to predefined pricing policies, execute price changes dynamically. Retailers can also set up rules and alerts that identify when price changes require management review and consideration. This straight-through processing capability eliminates much of the manual work that slows down organizational responsiveness. Automated Pricing also signals managers when prices fall out of compliance with predefined targets. This enables organizations to move away from the traditional practice of re-optimizing categories based on a calendar system, and instead rely on their own data on shopper behavior to reveal when adjustments should be made to unlock market potential.

In addition, PriceStrat 5.4 continues to deliver on KSS Retail’s emphasis on productivity and ease of use for pricing teams, with enhancements that make day-to-day pricing and promotion optimization activities faster and more intuitive. By streamlining tasks and improving efficiency, merchants can focus on making strategic decisions based on data insights. With PriceStrat 5.4, retailers can now:

  • Simulate the impact of baseline cost and retail changes more easily during “what-if” planning, and better incorporate actual customer expectations
  • Gain clearer visibility into the decisions required to maintain profit and gross margin targets while delivering greater shopper value
  • Improve Competitive Price Index scores by replacing legacy “one-size-fits-all” rules with precise, dynamic data sets and rules customized to each price zone or sales channel
  • Increase sales of slow-moving items through more accurate forecasting capabilities
  • Support a broader range of currency denominations to help global businesses extend into new markets

“As we face tough competition, we are looking forward to taking advantage of the new Automated Pricing functionality in PriceStrat 5.4 to help us respond quickly and deliver competitive pricing to our shoppers,” said Kent Butterfield, Director of Pricing with Associated Food Stores, a regional grocery retail and wholesale chain based in Salt Lake City. “PriceStrat 5.4 will help us not only make faster, more informed decisions about price and promotion across the organization, but will also help streamline the way we work, ultimately saving us significant time and effort,” Butterfield continued.

“In an increasingly transparent consumer marketplace, shoppers have more access to price information than ever. That’s why the new features in PriceStrat 5.4 are focused on helping retailers accelerate the pace at which they are able to adapt their pricing strategy in response to customer and competitor activity,” said Yael Cosset, CEO of KSS Retail. “With industry-leading science that’s already been proven and tested in some of the world’s top retail organizations, PriceStrat 5.4 takes predictive mining of shopper data to the next level – ultimately enabling organizations to quickly roll out prices and promotions that are highly relevant and tailored to each of their markets, whether online or offline, in any part of the world.”

About KSS Retail

KSS Retail, from dunnhumby, 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 Kroger, Tesco, 7-Eleven, 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
Using new techniques of information modeling, indexing, and processing, new cloud-based systems can support cloud-based workloads previously not possible for high-throughput insurance, banking, and case-based applications. In his session at 18th Cloud Expo, John Newton, CTO, Founder and Chairman of Alfresco, described how to scale cloud-based content management repositories to store, manage, and retrieve billions of documents and related information with fast and linear scalability. He addres...
Is the ongoing quest for agility in the data center forcing you to evaluate how to be a part of infrastructure automation efforts? As organizations evolve toward bimodal IT operations, they are embracing new service delivery models and leveraging virtualization to increase infrastructure agility. Therefore, the network must evolve in parallel to become equally agile. Read this essential piece of Gartner research for recommendations on achieving greater agility.
SYS-CON Events announced today that Hitrons Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Hitrons Solutions Inc. is distributor in the North American market for unique products and services of small and medium-size businesses, including cloud services and solutions, SEO marketing platforms, and mobile applications.
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, will deep dive into best practices that will ensure a successful smart city journey.
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th 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 wait for long dev...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th 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 devices - comp...
Kubernetes, Docker and containers are changing the world, and how companies are deploying their software and running their infrastructure. With the shift in how applications are built and deployed, new challenges must be solved. In his session at @DevOpsSummit at19th Cloud Expo, Sebastian Scheele, co-founder of Loodse, will discuss the implications of containerized applications/infrastructures and their impact on the enterprise. In a real world example based on Kubernetes, he will show how to ...
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
SYS-CON Events announced today that Venafi, the Immune System for the Internet™ and the leading provider of Next Generation Trust Protection, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Venafi is the Immune System for the Internet™ that protects the foundation of all cybersecurity – cryptographic keys and digital certificates – so they can’t be misused by bad guys in attacks...
As the world moves toward more DevOps and Microservices, application deployment to the cloud ought to become a lot simpler. The Microservices architecture, which is the basis of many new age distributed systems such as OpenStack, NetFlix and so on, is at the heart of Cloud Foundry - a complete developer-oriented Platform as a Service (PaaS) that is IaaS agnostic and supports vCloud, OpenStack and AWS. Serverless computing is revolutionizing computing. In his session at 19th Cloud Expo, Raghav...
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
Ixia (Nasdaq: XXIA) has announced that NoviFlow Inc.has deployed IxNetwork® to validate the company’s designs and accelerate the delivery of its proven, reliable products. Based in Montréal, NoviFlow Inc. supports network carriers, hyperscale data center operators, and enterprises seeking greater network control and flexibility, network scalability, and the capacity to handle extremely large numbers of flows, while maintaining maximum network performance. To meet these requirements, NoviFlow in...
Fact: storage performance problems have only gotten more complicated, as applications not only have become largely virtualized, but also have moved to cloud-based infrastructures. Storage performance in virtualized environments isn’t just about IOPS anymore. Instead, you need to guarantee performance for individual VMs, helping applications maintain performance as the number of VMs continues to go up in real time. In his session at Cloud Expo, Dhiraj Sehgal, Product and Marketing at Tintri, wil...
StarNet Communications Corp has announced the addition of three Secure Remote Desktop modules to its flagship X-Win32 PC X server. The new modules enable X-Win32 to safely tunnel the remote desktops from Linux and Unix servers to the user’s PC over encrypted SSH. Traditionally, users of PC X servers deploy the XDMCP protocol to display remote desktop environments such as the Gnome and KDE desktops on Linux servers and the CDE environment on Solaris Unix machines. XDMCP is used primarily on comp...
SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...