CINCINNATI--(BUSINESS WIRE)--KSS Retail, a dunnhumby company, today released a major update to its industry-leading PriceStrat® Optimization Solution. PriceStrat V5 takes pricing, promotions, performance and planning to an advanced level by enabling pricing definition by targeted shopper segments.
PriceStrat V5 is the outcome of intense development and rigorous field testing, delivering enhanced performance with a host of tools and controls that enable practitioners to develop, model and execute pricing and promotions plans that deliver superior results. New targeting features enable a unique and innovative focus on the shopper, providing the platform to make shopper data more actionable than ever before.
“PriceStrat V5 has been upgraded with a rich new feature set that promises a far more precise, flexible and comprehensive tool set for retail planning,” said Yael Cosset, CEO of KSS Retail.
By allowing customers to optimize pricing by shopper segment derived from loyalty card data, users will be able to specifically target their most valuable customer segment while simultaneously not alienating other segments. This will allow improved shopper image and increased store visits by the shoppers retailers care most about.
In addition to the strong functional and scientific capabilities which allow users to optimize everyday pricing and improve promotional planning in one integrated platform, PriceStrat V5 innovations include the ability to:
- Automatically respond to cost changes, including Temporary Price Reductions and vendor incentives, dramatically improving time to market for in-store price changes
- Leverage product attributes and custom groups to efficiently scale optimization capabilities across the enterprise and support implementation of pricing strategies
- More accurately model holiday and promotion effects, resulting in improvements to forecast accuracy around key predictive analytics
- Enable robust measurement of category performance and enterprise-wide assessment of related simulations, en route to understanding impacts across categories
- Improve workflow related to managing rules and violations, to further simplify real-time optimization capabilities
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, O’Reilly Auto Parts, BI-LO, Sonae, Raley’s, United Supermarkets, dabs.com, ABC Fine Wine and Spirits, and many others. For more information, visit www.KSSRetail.com.