LONDON: Quantzig, a global analytics services provider, has recently completed its latest pricing analytics solution for a food retail client. The shift toward online shopping and a rising global population has resulted in considerable growth in the food retail space. Apart from the convenience factor, macroeconomic factors such as increasing consumer spending, flourishing GDP, and changing lifestyles are further contributors to the growth of the food retail space.
“Pricing analytics helps companies to understand the current market prices for the food products offered and estimate the impact of pricing strategies on the sales volume accurately. Furthermore, it also offers real-time insights into the market conditions and helps companies target contribution margins.” says an industry expert from Quantzig.
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The pricing analytics solution helped the food retail client to manage the prices and promotions and use the available data to drive the customer’s buying decisions. The solution also helped the client to optimize their pricing strategies to maximize profit margins.
Additional Benefits of Sentiment Analysis Solution
- Create a comprehensive database based on the initial and final pricing
- Meet the pricing needs and cover relative price points
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