Did you know that 89% of Grocers don’t have the data needed to analyze promotions? This means that many Grocers don’t know how their promotions performed, nor have an accurate reason for why they chose their promotions.
Though promotions have been around for as long as we can remember (the first coupon was introduced by CocaCola in 1888), analyzing promotions has either been pushed down in priority, deemed too complicated/time-consuming, or inaccurately executed.
As we continue to grow in technology, the number of platforms we utilize to share promotions will not only become increasingly complex to analyze, but will also be impossible to interpret manually.
When running a single promotion a retailer is faced with hundreds if not thousands of different decisions. Just imagine how difficult this gets when you look at a grocery store with over 50,000 items. Take a Grocery store with ~100 locations, they are faced with over 325 million decisions for mass promotions and 1.25 trillion decisions for targeted promotions.
Mass promotions target a wide variety of audiences, with the goal of appealing to as many audiences as possible.
Targeted promotions are aimed at specific groups by tapping in to their interests, occupation, location, age, etc.
Cognira is the leading artificial intelligence solutions provider for retailers. Cognira is passionate about helping retailers unlock valuable, transformative business insights from their data.
We know retail. We love data.
To learn more, check out our website at cognira.com or contact us today to get started.
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Founded by experienced data scientists and retail experts, Cognira is the leading artificial intelligence solutions provider.
