In today’s competitive market space, major retailers in the personal care products space are investing heavily in product differentiation to derive tangible benefits in terms of increased sales, improved profits, and market share. Therefore, it becomes pivotal for any organization to optimize their current promotions plans with the aid of an advanced trade promotion optimization solution. Also, in today’s competitive retail market landscape, the basic paradigm of any trade promotion for personal care products will be to focus on the efforts to improve trade promotion strategies and results. In the personal care products space, with the help of trade promotion optimization, firms can optimize trade spend, increase sales performance, and enhance their return on investment. Moreover, renowned retailers in the personal care products space can effectively collaborate with other retailers and further drive sustainable improvements on baseline volume.
To decrease the spending on promotions and improve the overall business efficiency, renowned retailers in the personal care products space are approaching companies like Quantzig. With years of expertise in offering a plethora of services, Quantzig’s trade promotion optimization helps retailers in the personal care products space generate the desired sales volume without exceeding the trade budget. Moreover, Quantzig’s trade promotion service can further help companies in the healthcare products space spur sales strengthen channel partnerships and build brand equity.
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The Business Challenge
A renowned personal care products manufacturer with a considerable number of manufacturing units spread across the globe was facing predicaments generating revenues from trade promotions. The personal care products company wanted to seek ways to improve forecast accuracy and enhance the process efficiency and productivity. With the help of a trade promotion optimization model, the client wanted to gain timely, accurate, and relevant insights into the customer profitability and enhance their business operations. Moreover, the client further wanted to focus on trade promotions to optimize promotional spend.
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Benefits of Trade Promotion Optimization
The trade promotion optimization solution offered by Quantzig helped the personal care products company effectively optimize the trade spending across its product portfolio. Also, by leveraging predictive analytics, the personal care products manufacturer was able to gain insights into the historical data to effectively forecast sales. Also, the engagement helped the client create a trade calendar based on business rules, constraints, and goals. Moreover, the engagement helped the client diagnose trade spending effectiveness and opportunities to improve their bottom-line.
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Trade Promotion Optimization Predictive Insights
- Allocated 14% of its total revenue to trade promotion activities
- Increased forecasting accuracy and optimized promotional spend
- Comparatively analyzed the base and incremental volume growth
- Measured and enhanced process efficiency and productivity
- Estimated the effectiveness of forecasting and trade tactics