–News Direct–
ToolsGroup, a global leader in retail and supply chain planning and optimization software, today announced the launch of their PromoAI Solution, a new promotions optimization solution in the greater JustEnough retail planning and execution suite. This solution allows retailers to maximize the sales lift created by promotions while minimizing margin sacrificed to do so.
The PromoAI tool is built on ToolsGroups patented and award-winning pricing algorithm, and introduces additional features and planning workflows to build scenarios to optimize every aspect of promotions. With the PromoAI solution, retailers can instantly simulate the impact of multiple promotional strategies at once to choose the best outcome for their business priorities. This new solution empowers retailers to ensure that every promotion delivers on promised returnssomething critical to profitability, especially with working capital invested in inventory at a premium.
Promotions are often frustratingly inconsistent, sometimes delivering the expected sales, but other times eroding margin without sufficient returns. Being able to use PromoAI to optimize the critical elements of promotions, from the timing to the discounts will make a huge difference to our bottom line, said Elisabetta Urbani, Merchandising Manager at Conbipel, an early adopter of the PromoAI solution.
Core Benefits of PromoAI:
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360-degree promotional optimization
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An end to the deadly cycle of ever-increasing promotions
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Streamlined processes and less manual labor
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Growth in brand value
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Delight customers and drive loyalty
With PromoAI, retailers no longer have to worry about their promotions strategy being a net negative on GMROI. With this prescriptive AI solution, its easy to tailor promotions to appeal to the unique customer base of each channel and ultimately maximize profits, said Pierre Custeau, Chief Product and Technology Officer at ToolsGroup.
ToolsGroup PromoAI Solution is an integral part of JustEnough solution that has long delivered unparalleled value and results to retailers around the world. With over 400 customers optimizing inventory with its solutions, ToolsGroup enables intelligent real-time decision-making that transforms retail planning and execution. Current pricing customers report a 6% average growth in revenue and 15% growth in volume.
Were excited to talk to you about our new PromoAI solution. If youre in London this week at the Retail Technology Show, come talk to us about it at ToolsGroups Booth: 6B68.
Interested in how ToolsGroup can help you maximize your GMROI through more profitable promotions? Read more HERE.
About ToolsGroup
ToolsGroups innovative AI-powered solutions enable retailers, distributors, and manufacturers to navigate through supply chain uncertainty. Our retail and supply chain planning suites empower a new level of fast, intelligent decision-making and unlock powerful business improvements in forecast accuracy, service levels, and inventory delighting customers and achieving financial and sustainability KPIs. Stay in touch with ToolsGroup on LinkedIn, Twitter, YouTube, or visit www.toolsgroup.com.
Contact Details
Meir Kahtan
+1 917-864-0800
Company Website
View source version on newsdirect.com: https://newsdirect.com/news/toolsgroup-launches-promoai-revolutionary-new-retail-promotions-optimization-solution-719436700
ToolsGroup
COMTEX_451333282/2655/2024-04-24T07:02:19