Optimising Product Selection and Pricing for FMCG Retailers
Highly detailed forecasts of volumes and space usage
At Xtract we understand that, with FMCG retailing, the size and location of stores impacts on the customer needs that are served. Clearly, stores that best serve consumer needs are the most profitable. Which is why we have developed a solution that enables you to accurately estimate the floorspace required for different product groups, with service levels that are matched to customer needs.
Key features
Predicting local demand
With our Advanced Analytics assessment of local population, competition and road networks, we equip you with accurate estimations of demand and market share. Using individual store POS data, we equip you with the basket analysis that enables you to deliver the most relevant product ranges for selected consumer needs.
Product selection optimisation
Driving success across promotions and price perceptions – and ensuring optimised product offerings – we ensure you can more accurately identify and more efficiently manage key products.
Price optimisation
Employing price elasticity models, we enable you to set the prices that will generate optimal profits.
Input data
• POS store data on transaction level (receipts).
• Product and stores basic information and product tree.
• Price information.
• Third party information: geodemographics and competitor store locations.