Key capabilities include:
- Comprehensive survey gathering and processing including data clean-up and price-corrections/imputations
- Demand decomposition incorporates price elasticity, promotional effects, and seasonality by store segment, which can account for competitive intensity and demographic/consumer profiling
- Ability to define and monitor everyday pricing and promotions strategies with precision modeling techniques
- Market basket analytics to understand the impact on store traffic and other categories
- Anchor product driven pricing while ensuring relative price constraints, regulatory constraints, and contractual obligations across brands and markets
- Guided analytics to identify segments/clusters and stores with margin and revenue opportunity
What are the advantages of using Vistaar RPO?
Vistaar assessed the pricing process in many retail categories over several years and realized that a 'one size fits all' approach could not be applied to all store categories. The tobacco category is a significant driver of store traffic, but has price-sensitive customers, complex taxes, and regulatory rules requiring a dedicated solution to drive the following benefits:
- Competitor Reference Price model using price science algorithms at store segment or store level
- Optimized price recommendations at store level with associated impact projections based on margin and volume objectives
- Optimized prices by category of brands and across all SKUs while ensuring the compliance to regulatory and relative pricing constraints
- Improvement in survey data quality with price checks and price science driven data clean-up and imputations
- Proactive system "alerts' to ensure timely price action to address volume or margin erosion
- Ability to do 'what-if' analysis for various price change options and view brand family level projected volume and margin impact by store
- Tracking of planned vs executed SKU level retain prices
- Track actual volume and margin impact against the projected impact at published, as well as recommended, prices by store/across states/store groups/markets
- Track month over month change in competitor prices, price strategies, and price gaps at market and competitor level
Where is Vistaar RPO best put to use?
- Competitive surveying
- Store/store segment level price optimization
- Understanding projected impact under various 'what-if' pricing scenarios
- 'Anchor' driven and 'rule-based' everyday price & promotions planning within the relative price gaps, regulatory, and contractual constraints
- Tracking and understanding price performance
- Category Managers
- Store Operations
- Field Merchandising Coordinators
- Executive suite
Who is using the Vistaar RPO solution?
Our customers are typically retail chains operating 250 or more stores across the convenience, drug, mass, grocery, and dollar store class of trade channels.
How does using Vistaar RPO impact my business?
Typical benefits reported by our customers:
- Revenue impact 1% to 3%
- Margin improvement 5% to 15%
- Improvement in productivity
- Streamlining and standardization of pricing process
- Proactive price changes due to better visibility into price performance
- Improved pricing response to market changes
We believe that utilizing the Vistaar RPO solution is the highest technology ROI that your business will ever make.
Vistaar Technologies, headquartered in New Jersey and with London & Mumbai, is a leading provider of price management to Fortune 1000 companies. Vistaar has for close to two decades worked with some of the world's largest manufacturers, distributors, retailers, and service providers to transform pricing operations into a strategic advantage. Our solutions include price list management, price optimization, price analytics, and deal management.
Parsippany, New Jersey - Tel: +1 (973) 581-6300 London - Tel: +44 (0) 203 356 9773 Mumbai - Tel: +91 22 6693 1444