Symphony RetailAI Named as a Representative Vendor in Gartner’s 2021 Market Guide for Retail Unified Price, Promotion and Markdown Optimization Applications
Symphony RetailAI, the leading global provider of integrated AI-enabled marketing, merchandising and supply chain solutions for FMCG retailers and manufacturers, today announced that it was recognized as a Representative Vendor in Gartner’s 2021 Market Guide for Retail Unified Price, Promotion and Markdown Optimization Applications (Gartner subscription required).
According to Gartner, major factors driving differentiation among vendors and/or data providers include:
- Use of AI throughout the UPPMO process to enhance speed and accuracy.
- High-quality visualizations that help business users understand recommended prices and align strategic goals with results.
- Tight integration of processes and pricing execution systems to ensure timeliness and consistency of prices across sales touchpoints.
- Provision of promotion planning/calendars/layout capabilities to facilitate performance.
- Advanced segmentation capabilities that will support contextualized real-time pricing:
- Structured customer data for personalization, such as loyalty data.
- Unstructured data for personalization, such as social data.
- Integration with campaign management for better marketing alignment.
The Symphony RetailAI Promotions Optimization Suite enables retailers to generate efficient and effective promotions that maximize ROI. The Promotion Evaluation application makes it easier than ever for retailers to evaluate every promotion at the most granular and actionable levels, down to the UPC and store, across three critical levers – sales, profit, and customer impact. Symphony RetailAI’s Promotion Planning and Forecasting application uses AI to recommend customer-centric promotion plans and circulars that are designed to maximize incremental sales and margin, rather than just repeat or tweak last year’s plan.
“Retailers and CPGs invest billions in promotions each year, but many fail to break even,” said Sy Fahimi, SVP Product, Symphony RetailAI. “However, AI and machine learning, combined with the expertise and experience of promotion managers, enable an agile approach to creating optimized promotions. We believe that our offering stands out in the market for these reasons, as evidenced by the fact that Symphony RetailAI has helped retailers to reduce ineffective promotions by 15-20%, in addition to realizing sales and margin growth of 5-10%. Through the AI and machine learning powering our solution, retailers move from analysis to action without sacrificing accuracy or loyalty.”