Available for retailers across verticals, unified offering increases promotional ROI up to 15% and operational efficiencies up to 75%.
XCCommerce – a leading provider of promotion solutions for retailers across segments – today announced a new partnership with RELEX Solutions – a provider of unified supply chain and retail planning solutions – to fully integrate the complex retail promotion process – from end to end. From planning to testing to execution, the XCCommerce platform combined with RELEX AI-driven pricing and promotion planning capabilities, offers retailers the ability to rapidly respond to market dynamics and easily manage complex, cross-channel promotions for optimal customer experiences and more profitable revenue.
With the cost of food and goods reaching historic highs in the U.S., Canada, and internationally, consumers are looking to get more value and save money. According to Insider Intelligence, 59% of U.S. consumers now buy items on sale more often and 44% use more coupons. Promotion planning and management is ever more critical but can be difficult and impact margins using legacy point solutions. The rise in consumers “coupon stacking” – such as using a mix of paper and digital coupons along with store rebates and loyalty club rewards – makes flawless execution of complex promotions essential, or risk consumer backlash and loss of promotional revenue up to 40%.
This strategic partnership brings unification of AI-driven pricing and promotion planning and optimization with complex promotion execution and management, to boost customer loyalty while increasing promotional ROI up to 15% and operational efficiencies up to 75% for retailers.
Key capabilities include:
- Single Source of Data Truth: One-stop management for all lifecycle pricing decisions including pricing and promotions, regardless of brand, channel, country, currency, or language.
- Scalable Delivery for Complex Promotions: Supports multi-level and multi-rule promotions using advanced conflict resolution, with ability to scale up to meet real-time demand during heavy shopping times, such as Black Friday.
- Flexibility for Price and Promotional Strategies: Customize rules to meet specific objectives, such as maintaining margins, price-matching, or markdowns, which can be set at the enterprise level down to a category, specific product group, and even a single product in a single location.
- Optimized Recommendations: Integrates rule-setting with a data-driven approach, leveraging predictive analytics and price elasticity modeling for precise pricing and informed promotion decisions.
- Scenario Testing: Gain insights into the impact of price changes on sales, margins, competitive positioning, and compliance with internal rules.
- Offline Execution: Run accurate promotions at the store level from multiple sources in the event internet access is offline, due to severe weather or a natural disaster.
“The unified offering eliminates the need for retailers to cope with disparate, siloed solutions,” said Danny Rosenoff, CEO, XCCommerce. “AI-powered promotion planning and optimization from RELEX are seamlessly ingested by the XCCommerce platform for execution and management. The result: consistent cross-channel promotions execution for improved promotional ROI.”
RELEX was recently named a Leader in the Forrester Wave: Retail Planning Platforms, Q4 2023. “The partnership is another step in our commitment to offering a best-in-class unified platform as we now partner with the rich XCCommerce execution platform to manage promotions across all channels,” said Andreas Willgert, General Manager of Promotions, RELEX.