DemandTec launches new merchandising platform
DemandTec, a retail pricing technology company, has unveiled its latest platform that private label companies can use to better improve sales. Unify is an autonomous unified merchandising platform for retailers using a cloud-native platform to unify disparate data and fragmented merchandising systems to understand shopper behaviors.
DemandTec has over 700 partners around the world, including current and past retail partners like 7-Eleven, Acosta, Carrefour, Cencosud, Coop, Exito, Farmacias Cruz Azul, Lowe’s, The Very Group, Tops Friendly Markets and W.H. Smith.
"Unify by DemandTec delivers a clear and complete understanding of the shopper giving retailers confidence in expanding store brands across the entire store with pricing strategies that maximize profitable growth," Kevin Sterneckert, chief strategy officer at DemandTec told Store Brands.
Unify by DemandTec includes four initial applications, available together as a platform or separately: DemandTec Autonomous Pricing, DemandTec Autonomous Promotions, DemandTec Autonomous Markdowns and DemandTec Autonomous Collaboration. With Unify, retailers gain a complete view of shopper demand across all channels to elevate AI-powered pricing, promotions and markdowns, and potentially maximize profitable revenue growth. Retailers can also take advantage of direct integration with DemandTec’s Autonomous Collaboration trade network, featuring more than 700 brands, suppliers and brokers already on the platform.
“It’s a critical time for retailers, all around the world,” said Todd P. Michaud, president and CEO of DemandTec. “Inflation is creating more price and promotion sensitivity with shoppers, and this is on top of the already sporadic purchasing behaviors and supply chain issues brought on by the pandemic. We are launching Unify by DemandTec because we believe that using legacy tools to address the challenges of today and tomorrow won’t work. Successful retailers today require a complete view of the shopper across channels, powered by advanced AI and ML to win in the market.”
DemandTec launched its autonomous merchandising platform with hopes of assisting retailers in accelerating their digital transformations and to support the expanding shopper-centric initiatives of retailers. The company says one of the biggest challenges facing retailers today is the lack of unification across retail pricing, promotions, and markdowns, which fails to accurately recognize the behaviors of the shopper, which can impact profitability.
“With AI-powered data science, machine learning and autonomous technologies, DemandTec is tearing down data and merchandising siloes, providing retailers with a complete view of consumer demand across channels, categories, and the merchandising lifecycle,” the company said. “Retailers using Unify by DemandTec can now manage end-to-end merchandising in a smarter, faster, simpler way, with a heightened understanding of consumer behavior driving improved predictive accuracy, averaging above 95%.”