LONDON--(BUSINESS WIRE)--Global analytics and advisory firm Quantzig has recently completed a research project for a leading European home appliance manufacturer and retailer to help the client improve promotion and pricing scenarios across multiple product categories based on demand and price elasticity.
The home appliance market is changing in line with technological advancements and consumer demands. Consumers are overwhelmingly preferring more sophisticated appliances, and are increasingly using e-commerce platforms to make purchases rather than using brick-and-mortar stores. Consumer goods manufacturers need to ensure that they are able to compete with both e-commerce and physical manufacturers, and ensure that they are catering to consumer purchasing preferences. This has led to an increase in the need for marketing analytics and customer analytics.
The main purpose of this research project was to help the client optimize price points and benchmark competitors in order to reach specific customer segments through the use of targeted campaigns. The client also wanted Quantzig to analyze the behaviour of online retail users, as well as analyze sales and benchmark product prices. To find the right solution for the client, Quantzig’s web and social media analytics experts combined sentiment analysis, supplier analysis, and sales forecasting. Additionally, Quantzig’s analytics experts analyzed and collected data on historical sales, product reviews, price differentiation, and other factors in order to gain a thorough understanding of the client’s business.
In just eight weeks, this approach resulted in a scalable, effective solution with 99% uptime, data accuracy, and real-time insights on customizable dashboards. Quantzig also helped the client to understand performance trends for top products, design a highly-effective pricing strategy, and improve the approach of their sales representatives.
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Quantzig’s retail and consumer product goods portfolio
The industry is subject to changing customer needs, shopping behaviours, and purchasing preferences. The use of retail and customer analytics solutions in this industry is essential to make informed decisions about pricing strategies, product promotions, merchandising planning, and other business functions. Quantzig’s CPG and retail analytics solutions utilize predictive and prescriptive analytics to assist companies with critical decision making.
Solutions Provided by Quantzig
- Pricing Analytics and Price Change Impact
- Demand and Sales Forecasting
- Profitability Analysis
- Sales Force Optimization
- Sentiment Analysis
- Marketing Mix Modelling
- And many more
Request a free proposal to see how Quantzig’s solutions can help you.
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 12 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on all of Quantzig’s services and the solutions they have provided to Fortune 500 clients across all industries, please contact us.