LONDON--(BUSINESS WIRE)--Quantzig, a global data analytics and advisory firm, that delivers actionable analytics solutions to resolve complex business problems has announced the completion of their latest pricing analytics engagement for a leading sports apparel chain based out of Belgium. This success story investigates the factors that hindered the client’s ability to defend their market share against big-box retailers and also demonstrates the significant revenue lift that retail chains can realize through markdown optimization and advanced pricing analytics.
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In today’s fast-paced retail environment developing and implementing a robust pricing analytics framework is imperative to drive profitable growth. Leveraging advanced pricing analytics solutions can help businesses to make analytics-driven pricing decisions to support their strategic goals. Our solutions leverage advanced analytics techniques, cognitive technologies, and robust data analytics models to query data sets and find new ways to proactively tackle the challenges faced by them.
The Business Challenge
The client- a leading sports apparel retailer was looking at optimizing prices to drive sales. They chose to collaborate with Quantzig and develop a robust pricing analytics framework to better understand the impact of price changes and promotional cadence on the overall sales. The client’s challenges spanned three core areas including:
- Lack of price tiers
- Inability to analyze the cause of lost sales
- Lack of analytics skills and technological expertise
“What differentiates our services is the fact that we take pricing analytics beyond data storage and retrieval through the use of advanced statistical modeling techniques to analyze price change impacts and gauge profitability,” says a pricing analytics expert from Quantzig.
Talk to our analytics experts to gain in-depth insights on how an analytics-driven price optimization approach can help you improve sales and gain market leadership.
The Solution Offered & Value Delivered
To help the client tackle their challenges we adopted a comprehensive approach that leveraged pricing analytics and focused on integrating the five core pricing competencies such as- strategy, execution, governance, analytics, and technology.
The pricing analytics solutions empowered the client to:
- Increase sales by 20%
- Improve pricing and promotion investments
- Deploy pricing analytics models to improve promotional cadence and pricing sensitivity
Gain limited-time complimentary access to our analytics platform and discover the true potential of analytics and cognitive technologies in improving pricing-decisions.
Quantzig's pricing analytics solutions offered predictive insights on:
- Analyzing pricing trends
- Devising suitable pricing strategies to thwart competitive threats
Our advanced pricing analytics solutions help businesses to analyze the pricing decisions from the perspective of their product or service offerings to make the best decision on pricing. Get in touch and learn more about how we can help you identify price gaps to arrive at accurate conclusions on new pricing strategies.
Recent Success Stories:
- Improving Logistics and Supply Chain Visibility Using Supply Chain Analytics Solutions | A Success Story by Quantzig
- Location Analytics in Retail Helped an Organic Food Retailer to Boost Quarterly Sales by 43% - Quantzig's Success Story
- Retail Analytics Helped a Belgium Based Retail Company to Analyze Customer Behavior and Drive CX
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About Quantzig
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 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 our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal
