SAN FRANCISCO – In a move to reflect the integration of the company’s software and tools with its globally established consulting and research practice, the KSS Retail business unit has been relaunched under the new dunnhumby Price and Promotion brand.
Retailers can now turn to a single source for strategy, research and planning, and other distinctive price and promotion services, in addition to enterprise-class optimization and analytics tools, according to officials with consumer science company dunnhumby.
The goal is to empower merchandising and category management teams to better understand their customers and make informed decisions that drive long-term loyalty and profitability.
“At the very core of a successful price and promotion strategy is knowledge of one’s customers," said Howard Langer, managing director for price and promotion at dunnhumby. “The unique combination of our strategic processes, proprietary insights and cutting-edge software suite enables dunnhumby Price and Promotion to help retailers truly take the right steps that result in sustained pricing power.”
For instance, dunnhumby Price and Promotion works with retail chains to:
- Evaluate and model customer price perception, providing insight into what steps influence sustained shopper loyalty and competitive advantage.
- Develop more relevant, personalized promotional plans that attract their most valuable customers and grow category performance with minimal cannibalization.
- Forecast the impact of pricing, promotional and assortment changes on customer demand and key financial metrics, such as revenue and gross margin.
KSS Retail was acquired by dunnhumby in 2010 based on the strength of its PriceStrat software solution, which pioneered the market for price and promotions optimization. Since then, PriceStrat has been implemented at some of the largest retailers in the world, according to dunnhumby.