SwiftIQ, a fast-growing retail analytics and vendor collaboration platform enabling faster, smarter store merchandising and marketing decisions announced the beta version of a new promotion measurement solution in its flagship Retail Execution Cloud. SwiftIQ clients are now able to perform advanced promotion analytics to measure take rate, incremental sales, source of volume, number of trips and basket value on temporary price reductions, multi-buys and cross category bundles.
Trade promotions, which are estimated by Cadent Consulting Group to account for approximately $225 billion of spending by suppliers, are complex to measure and often are not tracked well by retailers nor suppliers. Many retailers run dozens or hundreds of promotions of month with promotion spending and rebates accounting for as much as 20% of operating margin. Lack of software and analytical resources to measure not just sales but the incremental value of these events is leaving many in the dark. Accurately understanding the value of trade promotions and how they change shopper behavior such as store trips and baskets is crucial to optimizing them and enhancing profitability.
Legacy syndicated data, often delivered as a weekly aggregate, is unable to separate unique events accurately nor measure changes in customer behavior or basket-level impact. Therefore, the impact and return on investment are hard to impossible to gauge. With SwiftIQ, now brands and retailers can implement smarter promotions.
SwiftIQ hired two industry experts, Dafna Gabel and Anil Taneja to commercialize the new promotion offering and expand the product capabilities. Ms. Gabel joins SwiftIQ as the Senior Vice President of Insights & Strategy. She joins the company from emnos where she was the US head of analytics and headed global efforts on promotion personalization. She also has over 20 years of experience in consumer & shopper insights, strategy and analytic leadership roles at Nestle, Kraft, Catalina and IRI. Mr. Taneja, a VP of Client Development formerly led the largest CPG accounts for InContext Solutions. Prior to that, he was a Manager in PwC's Strategy, Pricing, and Profitability practice and bringing over 12 years of global management consulting, data and analytics, and CPG experience. Jason Lobel, CEO & Co-Founder said, “I am thrilled to have Dafna and Anil join SwiftIQ to help us achieve our aggressive growth objectives. They bring considerable expertise in promotion loyalty, personalization, and pricing analytics.”
SwiftIQ is launching its Promotion Measurement capabilities at the NACS Show October 7th-10th in Las Vegas. You can learn more about best practices for measurement or meet the team at the following events during NACS:
- Education Session: Sunday, October 7th at 1:15pm discussing Promotions that Work!
- Private Event: SwiftIQ is co-sponsoring The Future of Digital Promotions with other leading technology vendors on Sunday October 7th from 4-6pm.
- Demo at our Booth #6315 beginning on Monday, October 8th at 11:30pm through Wednesday October 10
SwiftIQ provides large retailers and brands with a leading, on-demand insights and decisioning platform from the most highly granular, real-time store and customer data to maximize profitability. SwiftIQ analyzes over $100 billion of transaction-log level data serving convenience, grocery, drug and other retailer formats. For more information, please contact us at email@example.com or visit our website to request a demo today!