Promo optimization
The case:
Promo optimization for Food Retailer
Situation:
Promotion can be a powerful tool to (temporarily) boost sales for a product, which can be beneficial for various reasons: to avoid waste, raise awareness, win market share or increase revenues for instance. A food retailer was doing promotions on a regular basis and looking for ways to increase promo effectiveness.
Improvement
Use modelling to determine promo effectiveness metrics, and leverage these to select products that are more likely to benefit from a promotion, but also to determine which ones are best to put on a more prominent display.
Results
Recommendations are implemented across a large number of retail stores, where we have seen a predicted sales increase for selected products.
Ready to discuss the possibilities?
Do you have a question or are you interested in the possibilities for your organisation? Feel free to contact us.