LONDON — Quantzig, a global analytics solutions provider, has announced the completion of their latest price point optimization study on the food retail industry. A leading food retail giant in the US wanted to frame better initial pricing, discount pricing, and promotional pricing strategies. The client wanted to understand the influence of price differentiation strategies across customer segments and create a robust pricing plan to augment customer satisfaction.
According to the price point optimization experts at Quantzig, “Price optimization solutions help firms analyze the demand for products at different intervals and scales.”
The food retail sector is considered to be one of the largest industries in the US and the firms in this space are planning to enlarge their consumer base and upsurge their foothold in the market. Food retail companies globally are scheduling on developing practical measures to expand their offerings and meet consumer demands due to the increasing consumer expectations.
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The solution presented by Quantzig helped the client to forecast demand, develop robust pricing and promotion strategies, and subsequently improve customer satisfaction levels. The client was able to describe profitability levels and understand the sensitivity of customers.
This price optimization solution provided benefits that helped the client to:
- Set temporary prices for companies to spur sales
- Attain actionable insights into the customers’ buying patterns
- To read more, request a free proposal
This price optimization solution provided predictive insights on:
- Identifying customer segments with a higher probability of cancellations
- Forecasting future renewal rates for their clients
- To learn more, request a free proposal
View the complete price optimization study here:
https://www.quantzig.com/content/food-retail-price-point-optimization
About Quantzig
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 14 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on all of Quantzig’s services and the solutions they have provided to Fortune 500 clients across all industries, please contact us.
Source: Quantzig