LONDON: Quantzig, a global analytics services provider, has recently completed its latest price point optimization solutions for a leading food retail firm. The growth of the food retail firm is subjected to certain factors such as government regulations and digitization. These factors are compelling food retail firms to leverage the use of price optimization strategies.
“Implementing price point optimization helped food retail client to set temporary prices for companies to spur sales for items with longer life cycles. The solution helped them devise strategic ways to retain their most profitable customers and define profitability levels by understanding the sensitivity of the customers” says an industry expert from Quantzig.
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The price point optimization solution helped the client gain actionable insights into the customer buying patterns in real-time. Also, it helped them identify customer segments with a higher probability of cancellation.
Additional Benefits of the Price Point Optimization Solution
- Forecast future renewal rates for the clients.
- Create a competitive management analysis
- Understand the impact of price differentiation across customer segments
- To know more, request a free proposal