With the onslaught of the COVID-19 pandemic, how prepared are you to deal with the short-term challenges? Tough times call for tough decision making; have you planned ways to overcome this complex situation yet?
Several accelerating trends within the CPG marketing ecosystem are increasing the importance of category-based thinking. These trends threaten to overwhelm the existing capabilities of Category Management and hamper growth unless they are addressed quickly, intelligently and holistically. Our solutions in Brand Category analytics are Assortment planning, Base price optimization and Consumer promotions.
Need :
An optimal mix of SKUs between fast-moving and high value is required to attract multiple customer segments and increase sales.
Impact :
It helps in tailoring local store assortments to match local demographics and buying patterns and have seen significant sales uplift as a result.
Need :
Right pricing of products is critical to drive sales, especially with the very high levels of competition and crowding of similar ‘me-too’ products. Going beyond simple price-elasticity, and accounting for market factors along with consumer preferences for product attributes can lead to optimal pricing decisions.
Impact :
Increase in product sales with cascading effects on the category and brand.
Need :
Consumer promotions may at times not yield desired lift or on the other hand, companies may overspend for limited gains. Data driven decisions on right type and extent of promotion based on product/market combination can yield the best ROI.
Impact :
High impact consumer promotions leading to improved sales and increase in customer base.
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