Promotions play a pivotal role in the success of a product. When promotion management is done strategically, retailers can expect a positive demand shift. According to retailmenot, promotions trigger in-store and online purchases by 89-91%. What are promotions? A promotion is a specific tactic within the marketing mix used by retailers
The value you convey to your customers is a key input into the success of achieving your promotion objectives. As the Harvard Business Review states, “How customers perceive the price is as important as the price itself.” For merchants, it is important to incorporate customer perception into promotion decisions to achieve plan
In the midst of a pandemic, national lockdowns, shortage of workers, supply issues, and sweeping uncertainty, retailers had to become more creative and flexible than ever before. Across the last two years, we saw massive shifts in the way retailers conducted business in order to stay relevant in a constantly
Meg Galgano Senior Director, Product Management “With inflation at record levels, consumers are rethinking how they spend their money.“ How inflation has dramatically changed in the last two years As far back as July 2021, surveys showed that consumers were adjusting their purchasing behaviors based on rising inflation. At the time,
By Fernando Monteiro, SVP EMEA The two most common technology acronyms you may find yourself reading and talking about are Artificial Intelligence (AI) and Machine Learning (ML). However, despite hearing them so often, many are stumped to explain the definition, what they actually do, and how they differentiate from each other.
Why grocers should care about understanding cannibalization & halo effects when planning promotions When managing promotions, the primary end goal of grocers is to drive an increase in ROI. Though there are many tactics on how to achieve this goal, there are a few important secondary metrics that should not
Why retailers should invest in advanced analytics to effectively manage promotions. Despite technology growing and evolving at a rapid pace, many retailers are still relying on intuition for promotion management. Whether they are guessing the right time to run a promotion, or agreeing on a markdown based on last year’s
“Multi-channel fulfillment strategies aren’t cutting it anymore. Instead, retailers need to invest in an omnichannel fulfillment strategy to stay ahead of their competition.” By Meg Galgano, Senior Director Product Management Over the last few years, consumers have put pressure on retailers to have flexibility and provide more options when it comes
Meet the team Cognira series We live in the age of instant gratification– when we run into a problem, we expect there to be a solution. Yet, in order to keep up with the instant gratification era, it is imperative to be two steps ahead by not only tackling problems
And just like that…we wrap up the NRF 2022 blog series with our day 3 recap! It was a pleasure to attend retail’s big show and meet with retailers, vendors, and industry experts to discuss important conversations surrounding retail and technology. In today’s blog, discover what questions we received from
