KSS Launch New Retail Analytical Tools

In support of the growing interest in Revenue Management, KSS are responding to needs expressed by retailers for easy-to-apply analytical software by launching a suite of tools at the Professional Pricing Society Show in October and the inaugural European “Revenue Management for Retail” event in London in November.

As a result of needs expressed during client engagements over the past 12 months, KSS are launching a suite of analysis tools that are highly complementary and supportive of the PriceStrat Revenue Management system and capable of delivering short-term value initially as independent, short duration consulting exercises. Subsequently KSS will deliver the tools as on-site applications sitting on the users desktop. The suite comprises Promotions Analyzer, Competitive Set Analysis® and Market-basket Analysis and is applicable to the grocery, chain drug and convenience retail sectors.

Promotions Analyzer is a promotions planning, item selection and post-promotion analysis tool designed to increase the effectiveness of in-store promotions and quantify the impact of supplier or retailer funded activities at item, category and store level.

Competitive Set Analysis analyzes transaction data to identify competition for a chosen item, brand or packing, delivering unique insight into the cannibalization or halo effects that pricing or promotions can have on the performance of that item.

Market-basket Analysis looks at transaction data to help answer key retail questions such as “which products are purchased together, which baskets have the greatest contribution to store sales or profitability and how can I increase the value of a given market basket”.

KSS will be launching these tools at two major retail events as follows: